AXIOS – Match Group has been leading an advocacy campaign calling for the passage of the Respect for Marriage Act, a bill to codify protections for same-sex and interracial marriage which cleared a major procedural hurdle in the U.S. Senate last week after garnering enough support from Senate Republicans. The Senate still has to pass the bill. Biden said he'd sign it into law.
Category: Match Group
A Dating App Subscription Isn’t a Bad Idea at a Time of High Inflation
by Ananya Bhattacharya
See full article at Quartz
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Match Could Gain From Hinge’s Sustained Growth and Tinder Recovery
BENZINGA – Match Group said Q3 revenue increased 1% YOY to $810M, which beat average analyst estimates of $795M. Paying users increased 2% YOY to 16.5M. Match Group plans to focus on Tinder growth as it heads into 2023. Match Group expects Q4 revenue to be between $780M and $790M. Keybanc analyst Justin Patterson views Match as an improving execution story that should benefit from sustained growth at Hinge and a recovery in Tinder. He views 2023 guidance for 5-10% revenue growth and at least flat margins as reasonable.
by Anusuya Lahiri
See full article at Benzinga
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Match Group Shuts Down Dating App Ship
OPW – "As of September 30, 2022, Ship is no longer available. For questions or concerns, please contact us", says a message on the getship.co website. It is unclear why Match Group quietly pulled the plug on Ship, a dating app that lets singles involve friends in the matchmaking process, but it seems the app did not get enough traction. In the latest earnings call, Bernard Kim, Match Group CEO, said: "We must focus our investment on brands that are growing and pull back in areas that are not driving growth." This is the strategy Match Group is taking in 2023.
Match Group Q3 Financial Results
MATCH GROUP – Q3 revenue grew 1% YOY to $810M. Operating income was $211M, down 5% YOY. Payers increased 2% to 16.5M, up from 16.3M in Q3 2021. Tinder direct revenue grew 6% YOY, driven by 7% payers growth to 11.1M. All other brands collectively had a direct revenue decline of 5% YOY driven by an 8% payers decline. Hinge revenue grew ~40% YOY.
Two Former Match Group CEOs Join Global Private Equity Firm
Match Group: Strong Growth and Resilient Business Model
SEEKING ALPHA – Match Group's stock should warrant the attention of growth-oriented investors. The company's financial performance continues to be robust, and we believe that APAC will fuel the company's growth for the foreseeable future. Year-to-date, the company's stock has significantly underperformed the S&P 500 with a YTD return of -63.49% in contrast to the index's decline of -23.62%. Currently, the company's market capitalization stands at $13.6B. For paid users, APAC (and Other) segment had only 3.6M paid users, compared to 8.2M users in Americas and 4.6M users in Europe.
Inner Circle Adds a Suite of Anti-ghosting Features
Tinder Launches Advocacy Campaign Urging Senate to Pass Respect for Marriage Act
THE HILL – Tinder, its parent company Match Group and the Human Rights Campaign are urging the Senate to pass the Respect for Marriage Act, a piece of federal legislation that would safeguard same-sex and interracial marriage rights. A new ad campaign on Tinder will spotlight LGBTQ+ couples who met on the platform and direct current users to a landing page with an email template they can send to their senators that encourages them to support the bill.
Match Can’t Avoid Google’s Breach Claims in Play Store
LAW360 – A California federal judge has declined to dismiss Google's contract breach counterclaims against Match Group for using an alternative billing system in violation of Google's payment policy.