MASHABLE – According to a survey by Hinge, memes have become a popular love language among daters. The survey, which involved 2K users, revealed that sending memes is the top preferred way to flirt before and after a first date. ~73% of respondents use memes to determine if they share a sense of humor with their match, while 60% prioritize understanding their match's "meme humor" before going on a date. Additionally, 93% believe that memes reveal a potential partner's sense of humor, which is considered an important factor in relationships by 92% of daters.
Category: Hinge
Match Group Shares Rise 6.6% as Meta Exec Named Product Chief of Hinge
MARKETWATCH – Match Group shares rose 6.6% to $33.93, making it the biggest gainer in the S&P 500 as measured by percentage change. Match Group named Stéphane Taine as CPO of Hinge. He previously served as head of product management for Messenger at Meta Platforms. His experience at the Facebook parent company included product launches for group video chat and augmented reality effects. Direct revenue from Hinge rose 27% YOY in the latest quarter due to double-digit payers and revenue per payer growth.
Match Group Reports Q1 2023 Results
MATCH GROUP – The Q1 '23 results showed a 1% YOY decrease in total revenue at $787M due to a 3% decline in payers, partially offset by a 2% increase in revenue per payer (RPP). On a foreign exchange neutral (FXN) basis, the total revenue was up 3% YOY at $822M. Tinder's direct revenue was flat YOY at $441M, while Hinge's direct revenue grew 27% YOY. Match Group Asia's direct revenue declined 13% YOY. Evergreen & Emerging (Match.com, Meetic, OurTime & Pairs, BLK, and Chispa) direct revenue was down 8% YOY. Q1 operating income was $198M, down 5% YOY, while Q1 adjusted operating income was $263M, down 4% YOY. Tinder's new weekly subscription packages and pricing optimizations are expected to increase revenue as 2023 progresses. Tinder is also focusing on improving women's user experience by providing relevancy, realness, and respect. They are testing Just for You, curated profiles, and adding interactive profile elements to provide a richer and more engaging user experience. Hinge is seeing exceptional momentum in Europe, with plans to launch more targeted marketing efforts in Italy, Spain, and the Netherlands in Q2.
Why Are Most Dating Apps So Similar to Each Other?
MAKE USE OF – Dating apps often seem similar due to several factors. Firstly, many mainstream apps like Tinder, Match, OKCupid, and Hinge are owned by the Match Group, which dictates the overall approach and design of these platforms. Secondly, the freemium model, where basic services are free but premium features are locked behind a paywall, is common across the industry, leading to similar user experiences. Mobile optimization for smaller screens and a need for a mass appeal also contribute to a uniform design language. Additionally, many users are on multiple platforms, which might make the experience feel repetitive. Lastly, the lack of a foolproof algorithm for successful matching and the apps' desire to keep users engaged leads to the use of similar gamified elements across platforms. Despite these similarities, subtle differences might make one app more suited to a user than others.
Bumble Survey: Gen Z Prefers Active First Dates Over Bar Scenes
Malgosia Green Will Lead Match Group’s Asian Expansion
FAST COMPANY – Malgosia Green is three months away from uprooting her life in Vancouver and fully immersing herself in Singapore as CEO of Match Group Asia. She was appointed to the newly created role earlier this year by Match Group CEO Bernard Kim. Prior to taking over as CEO of Match Group Asia, Green led Plenty of Fish for five years. Malgosia Green will be focusing on expanding the company's presence in Asia, particularly in Japan, where there is significant potential for growth. ~50% of women and 70% of men in their 20s in Japan are single, according to a 2022 white paper from the Japanese Gender Equality Bureau. Green also aims to bring the Hinge app to new Asian markets in the coming quarters. It currently operates in India. Much of Green's mission is focused on Hyperconnect, the Seoul-based social media and video tech company Match acquired in 2021 for $1.73B. Part of that development will be in AI, Green says.
Hinge Is Rolling out Its $50 per Month Subscription Today
Love You on Tinder. On Hinge, Not So Much.
NEW YORK TIMES – With many dating apps available to suit virtually any preference, each with its own unofficial norms and expectations, it's no surprise that users modulate their personalities from one dating app to the next. Whereas an app like Hinge incentivizes leading with details that suggest users are serious about finding a relationship, an app like Feeld welcomes those who put their kinkiest foot forward. Users adjust accordingly. David Coursi, a 29-year-old copy editor at an advertising agency, said that he almost had a missed connection with one woman he first matched with on Tinder – until she found him to be more appealing on Hinge.
by Gina Cherelus
See full article at New York Times
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Match Group Q4 2022 Results
MATCH GROUP – Total Revenue declined 2% YOY to $786M. Operating income was $107M, a 54% decrease YOY. Payers declined 1% to 16.1M. Tinder direct revenue was flat over the prior year quarter with 3% payers growth to 10.8M. All other brands collectively had a direct revenue decline of 5% YOY driven by an 8% payers decline. Hinge revenue grew 30%YOY.
Match Group Forecasts Q1 Revenue Below Expectations
REUTERS – While a tough economy and a stronger dollar had also crimped its business, poor product execution at Tinder was the "significant" culprit, Match said. Dating app Hinge's business was also hit by product delays, among other headwinds. Shares of Match Group fell ~11% in trading after the bell. Match reaffirmed its 2023 revenue growth forecast of 5% to 10%. It expects revenue growth to reach double digits by the fourth quarter on increasing momentum in the second half. The company forecasts Q1 revenue between $790M and $800M, lower than analysts' estimates of $817.3M. Revenue fell 2% to $786M in Q4, also missing expectations of $787.3M. Total payers fell 1% to 16.1M.
by Vansh Agarwal & Shreyaa Narayanan
See full article at Reuters