GOV.UK – The "Stop! Think Fraud" national campaign, launched on Feb 12, 2024 by the Home Office and supported by counter-fraud experts, aims to combat fraud, which accounts for 40% of crime in England and Wales. The campaign introduces an online hub offering clear anti-fraud advice and support for victims. Key supporters include Match Group, alongside other major stakeholders, underlining the collaborative effort to address the UK's most prevalent crime.
Category: Match Group
Podcast With Michael Kaye, Director of Brand and Communications at Archer and OKCupid
Match Group Tells Users to Verify Their Profiles in Order to Go on More Dates
PR NEWSWIRE – Match Group's platforms will send users coordinated reminders to Photo Verify their profiles utilizing Photo Verification with a selfie video or the platform's verification tools. Verified profiles often receive better engagement, according to Match Group. At Hinge, users with profiles that are Selfie Verified go on ~200% more dates globally than those with unverified profiles. On Tinder – in the 18-25 age group – being Photo Verified bumps up their chance to match by 10% as users feel more confident that their potential match is genuine and looks like their photos.
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Match Group Hasn’t Yet Decided if It Will Opt Into Apple’s New DMA Rules
TECH CRUNCH – Match Group is undecided about adopting Apple's new Digital Markets Act (DMA) rules in the EU, which allow for alternative app stores and third-party payments. During their Q4 2023 earnings call, CEO Gary Swidler expressed uncertainty about how the new regulations would affect their business, similar to concerns raised by Spotify and Microsoft. Apple's compliance with the DMA involves a new commission structure, including a "Core Technology Fee" for those opting in. Critics argue that these rules may not offer the expected benefits in an open app market. However, the European Commission has yet to accept Apple's proposal, leaving room for changes.
Match Group Reports Q4 2023 Results
MATCH GROUP – Total revenue grew 10% YOY to $866M. Tinder revenue was up 11%, while collectively other brands' revenue was up 9% YOY. Hinge revenue was up 50% YOY. Payers declined 5% to 15.2M. Operating income was $260M, up 144% YOY. Full year 2023 revenue grew 6% YOY to $3.4B. Operating income increased 78% YOY to $917M. Tinder expects to further drive revenue in 2024 with the introduction of weekly subscription packages in markets that were not included in 2023's initial releases. Hinge's international expansion will continue to target Europe.
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Dating Apps Make Push to Court ‘Generation Z’
by Denny Jacob
See full article at Wall Street Journal
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Match Group Board Approves New Buyback Program of $1B
MARKETWATCH – Match Group received approval for a new buyback program of $1B that replaces its current authorization. The latest authorization comes as Match is dealing with a set of distinct challenges. The company has seen paying users decline for five consecutive quarters, partly in response to changes to the price of its subscriptions. This has fueled concerns about saturation in the online dating space and weighed on its stock price, which has fallen 30% over the last 12 months.
Match Group’s BLK Encourages Black Women to Be Themselves
CAMPAIGN US – BLK, a Match Group dating app, has launched the #RealNotPerfect campaign to empower Black women to embrace authenticity in every aspect of life. The campaign, featuring a series of videos, encourages members to be unapologetically Black and showcases individual stories of Black women overcoming challenges. Users are invited to pledge authenticity, receiving a badge on their profile. Over 8,000 people have joined the campaign so far.
Ads for Match Group Ran Alongside Disturbing Content on Meta’s Platforms
CNN NEWSSOURCE – Meta advertisers, including Match Group and Walmart, have raised concerns to the tech giant about their ads appearing alongside disturbing sexual content, New Mexico Attorney General Raúl Torrez alleged in an updated complaint in his lawsuit against Meta. The updated complaint comes after Torrez sued Meta and CEO Mark Zuckerberg last month, accusing the company of creating a "breeding ground" for child predators. The lawsuit alleges that Meta exposes young users to sexual content and makes it possible for adult users they don’t know to contact them, putting children at risk of abuse or exploitation. Match Group's CEO allegedly reached out directly to Zuckerberg to note that "Meta is placing ads adjacent to offensive, obscene – and potentially illegal – content, including sexualization of minors and gender-based violence," and said that Match had cut its advertising spending on Meta's platforms.
Match Group Promotes Faye Iosotaluno to Tinder CEO
TECH CRUNCH – Match Group has named Faye Iosotaluno as the new Tinder CEO, two years after the previous CEO Renate Nyborg left the company in August 2022. During that time, Match Group CEO Bernard Kim held the position. Iosotaluno has been working at the Match Group since 2017. She was promoted from the company’s chief strategy officer position to Tinder’s chief operating officer in 2022 when Nyborg departed. Nyborg is now building an AI companion startup backed by Sequoia and Andrew Ng’s AI Fund.