by Alex Webb
See full article at Bloomberg
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Category: Match Group
Match Group Q1 Results: Revenue up 9%, Tinder Payers Down 9%, Hinge Revenue up 50%
MATCH GROUP – In the Q1, Match Group revenue grew 9% YOY to $860M. Tinder direct revenue increased 9% YOY to $481M. However Tinder payers declined 9% YOY to just under 10M, due to the continuing effects of last year's price optimizations and MAU declines. Tinder payers were down ~255K on a sequential basis. Subscription revenue grew 17% YOY while à la carte revenue, which comprises ~20% of Tinder's direct Revenue, fell 13% YOY primarily due to MAU declines and lower purchase volumes per user. Hinge direct revenue grew 50% YOY to $124M, driven by a 31% increase in payers to 1.4M. Hinge continued to resonate with users in English-speaking and Western European markets, with total downloads across all markets growing 20% YOY in Q1. Match Group Asia businesses' revenue declined 6% YOY to $71M. Direct revenue growth at Azar was more than offset by continued declines at Pairs and Hakuna. Q1 Operating Income was $185M, down 7% YOY.
Match-Owned Archer Hits Over Half a Million Installs
TECH CRUNCH – Despite a general slump in the dating app industry, Match Group's Archer app has achieved ~685K downloads since its launch last year. Aimed at gay, bi, and queer men, Archer offers a fresh take on the gay dating scene by incorporating safety features like AI-monitored chats and selfie verification to combat negative behaviors like body shaming and racism. The app distinguishes between casual and serious daters with different user interfaces. With 74% of its users looking for friendships, Archer is focusing on community-building features and plans to introduce a Stories feature and more AI integrations in the future. Match Group is investing significantly in AI, planning to spend $20-30M in 2024 and collaborating with OpenAI.
Match Group Key Safety Features
AXIOS – Match Group invests heavily in online dating safety, spending $125M annually on trust and safety initiatives. The company utilizes AI and manual moderation tools to scan profiles for red flags, review suspicious activity, and detect fraudulent accounts. Notable safety features include:
- Photo Verification
- Anti-Harassment Prompts: The "Are You Sure?" feature uses AI to prompt users to reconsider sending potentially offensive messages.
- Safety Center: Provides resources, tips, and information on safe dating practices.
- Share My Date and Long Press Reporting: These features enable users to share date details for safety and easily report offensive messages directly from the chat.
The League’s “Be a GoalDigger” Campaign Earned an Obie Award Nomination
As Scammers Turn Dating Apps Into “Hunting Grounds,” Critics Look to Match Group to Do More
CBS NEWS – In 2019, the Federal Trade Commission (FTC) filed a lawsuit against Match Group, highlighting a significant issue: from 2013 to mid-2018, up to 30% of daily new members on Match.com were potentially using the site for scams, unbeknownst to potential subscribers. This case underscores ongoing challenges with romance scams in the online dating industry, which continue to pose a threat despite technological advances. The legal battle also focuses on Match Group's claim to immunity under Section 230 of the Communications Decency Act, influencing future regulatory frameworks for online platforms. In response to these challenges, Match Group has reported investing $125M annually in safety measures, including both automated and manual screening processes, to enhance user protection and mitigate fraudulent activities. The outcome of this lawsuit and the continued prevalence of online dating scams emphasize the need for ongoing improvements in industry safety practices and consumer awareness.
by Jim Axelrod, Sheena Samu, Andy Bast & Matthew Mosk
See full article at CBS News
Bernard Kim Advocates for Community and Connection at ‘Lunch With a Leader’ Event
CARROLL SCHOOL OF MANAGEMENT – Bernard Kim, the CEO of Match Group, shared his experiences and emphasized the importance of human connections at the "Lunch with a Leader" event hosted by Boston College's Winston Center for Leadership and Ethics. Reflecting on his college days and career in the video game and online dating industries, Kim highlighted how vital community and relationships have been in his personal and professional life. From innovative college presentations to leading major companies like Tinder and Hinge, Kim stressed that finding community and fostering connections should be a priority over chasing titles and money.
by Mason Braasch
See full article at Carroll School of Management
Match Group CEO: “Dating Apps Are the Best Place to Find Love, no Matter What You See on TikTok”
HyperConnect Recruits Former CEO of Twitch Korea as New Director of Hakuna
MK.CO.KR – Hyperconnect appointed Lee Ha-kyung, ex-CEO of Twitch Korea, as the new director for its live streaming service Hakuna Live. This move aims to grow the platform by focusing on creator content and partnerships. Lee brings expertise from his previous roles in gaming and live streaming. Hakuna Live offers high-definition, interactive broadcasts in various categories across 50 countries, leveraging Hyperconnect's technology.
by Go Min-seo
See full article at Mk.co.kr
Match Group Adds Two Board Members, Skirmishes With EU, Disputes Dark Nudging
TECH TIMES – Match Group has appointed two new board members: Instacart's CMO, Laura Jones, and Zillow Group former co-founder/CEO, Spencer Rascoff, will join the board immediately. Jones has expertise from Uber and Google, while Rascoff was Zillow's CEO for a decade.
Meanwhile, the European Union's executive arm considers tailored pricing unjust and prevents customers from making informed choices. Tinder will end age-based pricing by mid-April and will notify customers that its premium service discounts are based on automated algorithms and explain why, such as when users refuse to pay the usual cost. The European Commission stressed the significance of clearly communicating individual discounts.
Also, a class-action lawsuit alleges Match Group apps addict users, trap them in a "perpetual pay-to-play loop," manipulate dopamine by gamifying romance and use dark patterns in site design to trick customers into completing unintentional payments. Match Group called the lawsuit "ridiculous."
by Quincy Jon
See full article at Tech Times
Mark Brooks: In the real world not all singles are created equal. Online dating apps have to deal with this reality to try and level the playing field through pricing mechanisms. Also, I think it is our prerogative and entirely within the bounds of fairness to use behavioral observations, and AB testing to optimize for user conversions. It's not cheap finding millions of singles and maintaining critical mass! Ultimately the value we deliver is worth way more than the cost of a date. We help users get the tough questions out of the way, find reasonably good matches, communicate easily in private, and do better than they might otherwise.