SEEKING ALPHA – Match Group is focusing on reviving Tinder through new marketing efforts and feature additions. The company aims to improve user experience, increase monetization, and change negative perceptions associated with the app. Match Group is also seeing strong growth in European markets with its Hinge app and has introduced new subscription tiers to enhance monetization. The performance of Match Group's stock largely depends on the success of Tinder's growth. While the stock doesn't appear overpriced, it also doesn't present a bargain, leading to a neutral stance on the stock.
Category: Match Group
Match Group Debuts Archer, a New Face-first Gay Dating App for Men
TECH CRUNCH – Match Group is introducing Archer, a new gay dating app specifically designed for gay, bi, and queer men. Unlike other hookup apps, Archer combines dating app features with social media elements to encourage deeper self-expression. It will launch in New York in June, followed by LA, Washington DC, and a nationwide rollout within a year. The app emphasizes safety by requiring users to display profile photos with faces and employing AI to auto-blur potential nudity in chats.
Match Group Shares Rise 9% After CEO Buys Shares
MARKETWATCH – Match Group shares were up 9%, to $37.47, after CEO Bernard Jin Kim bought 31,400 company shares at $34.44 a share. Kim now owns 48,500 Match Group shares.
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 Scheduled to Participate in TD Cowen’s Technology, Media & Telecom Conference
BOLLYINSIDE – Match Group's President & CFO, Gary Swidler, will present at the TD Cowen 51st Annual Technology, Media & Telecom Conference on June 1 at 10:50 AM EST. A live webcast and replay of the presentation will be available at https://ir.mtch.com/news-and-events/events. The TD Cowen 51st Annual Technology, Media & Telecom Conference is a gathering of industry leaders and investors to discuss trends and opportunities in the technology, media, and telecom sectors.
by Delia Reynolds
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Dating App Even for Single Parents Tackles ‘Ghosting’ Issue
DAILYSTAR.CO.UK – Match Group has launched Even, a UK dating app launched especially for single parents. It comes after people in the UK admit to getting "ghosted" when fellow singles find out they have children. The decision to create the app came after a study found that 57% of single parents experienced ghosting solely because they had children. Some single parents reported a decline in confidence and self-esteem due to this discriminatory behavior, with 29% expressing a desire to give up on dating altogether. Even will therefore eliminate any potentially challenging discussions about these things to give people the opportunity to match with like-minded individuals.
Match Says It’s ‘Very Possible’ Apple-Epic Ruling Could Result in App Store Fee Relief
TECH CRUNCH – Match Group believes that the recent Apple-Epic Games antitrust appeals ruling may result in fee relief for developers on the App Store. Match Group's President and CFO, Gary Swidler, pointed to various battles Apple has been facing, including the recent antitrust investigation in the U.K. and the E.U.'s Digital Markets Act, which will impact App Store fees. Swidler suggested that Apple would have to decide whether it wanted to rethink its policies on a global basis or continue to set specific rules for each region. Match expects to see some sort of decision related to these questions over the next 12 months.
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.
Tinder to Pull out of Russia, Citing Human Rights Concerns
EURONEWS – Match says it will withdraw from the Russian market altogether by 30 June in an effort to uphold its stated commitment to respecting human rights. Match has previously come under pressure to store Russian users' data and messages in Russia in compliance with intelligence service requirements, raising concerns that LGBTQ users in particular could see their data shared with a notoriously hostile government. Like several other western social media giants, the company has refused. Last summer, it was fined 2M roubles (€22,868) by a Moscow district court in a case brought against several platforms including WhatsApp, Snapchat, Spotify and Hotels.com. Match's withdrawal from Russia has been relatively slow compared to some other players in the online dating marketplace. Bumble announced it was blocking app downloads in both Russia and Belarus in March 2022.
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Match’s FTC Investigation Over OkCupid Photo Sharing for Facial Recognition Tech Continues
COURTHOUSE NEWS – A federal court in Washington denied Match Group's request to seal the case brought against it by the FTC regarding its deal to provide OkCupid's images to a start-up developing facial recognition technology. The New York Times published an article in July 2019 about the use of images of people's faces to build facial recognition technology, citing Clarifai's access to OkCupid's photos as an example. This prompted the FTC to initiate a non-public investigation into whether Match engaged in unfair competition by sharing consumer information, including photos, of OkCupid users.