Category: Match Group

Could Hinge Be Match Group’s Next Tinder?

Posted on November 11, 2020

Hinge logo 2020THE MOTLEY FOOL – Nov 10 – Tinder dominates Match's revenue. It has grown from around zero revenue in 2014 to ~$1.4B this year. Match.com and other legacy websites like PlentyofFish make up around a third of sales. The smallest part of Match's current portfolio is the "emerging opportunities." It includes brands like Ablo, Pairs, and Hawaya, but is led by Hinge. Hinge is "designed to be deleted," meaning it targets people in the slightly older millennial cohort looking for long-term relationships. Match doesn't disclose Hinge's nominal revenue numbers. However, the app downloads year-to-date were up 82%. In fact, the company disclosed in its Q2 report that Hinge users have grown more than tenfold since 2017. With ~10M downloads globally, Hinge may be on the verge of what Tinder achieved a few years ago: hitting escape velocity in its target market.

by Brett Schafer
See full article at The Motley Fool

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Match Group Q3 Earning Call Highlights

Posted on November 6, 2020

Match group logo jan 2017OPW – Nov 6 – Yesterday, the Match Group announced Q3 financial results. Revenue was up 18% YOY ($640M). Operating income was $200M, up 14% YOY.

  • Average Match Group subscribers reached 10.8M, up 12% YOY. North American average subscribers grew 9% YOY, and international subscribers grew 16%.
  • Tinder's average subscribers increased a little over 900K YOY, 16% growth.
  • Tinder's developed markets are performing well, but in India and parts of Latin America and Southeast Asia, the virus is still impacting Tinder users.
  • 23% YOY direct revenue growth at the non-Tinder brands in Q3. These brands added ~275K average subscribers YOY.
  • Solid live streaming revenue growth at Plenty of Fish.
  • Newer brands like Chispa and BLK are contributing significant revenue growth. Hinge has been the standout this year, with 82% year-to-date growth in downloads and outstanding progress on monetization. Collectively, these new and emerging brands, including Pairs, grew 88% in the Q3.
  • For Q4, Match Group expects total revenue of $640M to $650M, which would represent 17% to 19% YOY growth.
  • Hinge monetization efforts made this year have worked (launch of Standouts and Roses – similar to Super Like on Tinder)
  • Tinder Platinum is being tested in 10 markets, plans to roll it globally by the end of the year.
  • Match Group launched a new brand Upward which is targeted to the Christian community in the U.S.

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Match Group Q3 Results – Revenue up 18%

Posted on November 5, 2020

Match group logo blue 2019MATCH GROUP – Nov 6 – Q3 revenue grew 18% YOY to $640M. Operating income was $200M, up 14% YOY. Adjusted EBITDA was up 21% ($249M). Average Subscribers increased 12% to 10.8M. Tinder Direct Revenue grew 15% YOY, driven by 16% average subscriber growth to 6.6M. Non-Tinder brands collectively grew direct revenue 23% YOY.

See full article at Match Group website

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Hawaya Dating App for Muslims Arrive in Malaysia

Posted on November 2, 2020

Hawaya logoPOKDE.NET – Nov 2 – Hawaya (owned by Match Group) is a Cairo-based dating app, founded in April 2017 by four Egyptian entrepreneurs. Hawaya is inspired by the word "Hawa" which translates to "love" in Arabic. According to the company, Hawaya carefully curates a culturally-acceptable solution to matchmaking. Users have to answer a series of questionnaires and authenticate their profile through a selfie verification process.

by Raja Idris
See full article at Pokde.net

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Hinge Turns Profitable

Posted on October 28, 2020

Hinge iconSEEKING ALPHA – Oct 28 – Amid the pandemic, Match Group announced that Hinge is now profitable and on track to triple revenue this year. In February of this year, Match Group acquired the remaining 49% of Hinge that it didn't already own. Match had previously purchased a majority stake in the app back in June 2018. Tinder's somewhat sleazy reputation as a "hookup app" allowed other entrants such as Hinge to build brands around the idea of a more relationship-focused service. Rather than retool Tinder to be all things to all people, Match bought Hinge and embraced the idea of market segmentation. Although Match doesn't offer any specific numbers, Morgan Stanley analyst Lauren Cassel estimates that the app has 6M active users and ~400K paying subscribers. Those numbers are dwarfed by Tinder's estimated user base of ~50M active accounts and ~6M paying users, but Hinge's customer base is older, and thus, willingness to pay is higher. Assuming that the 400K paying user figure is accurate, simple arithmetic shows that Hinge could be generating ~$64M annually in sales from subscriptions alone.

by Mike Berner
See full article at Seeking Alpha

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Coalition of App Developers Taking Aim at Apple Is Growing Rapidly

Posted on October 27, 2020

Coalition for App Fairness logoCULT OF MAC – Oct 27 – The Coalition for App Fairness, a group of developers targeting what they claim is Apple's unfair control of the App Store, has more than doubled in size since its formation last month. According to a new report, the original group of 13 companies – which included the likes of Epic Games, Spotify and Match Group – has now increased to 40, with another 400 requests to join. The coalition has what it refers to as the 10 App Store Principles. The App Store has been investigated by politicians in both the U.S. and Europe.

by Luke Dormehl
See full article at Cult of Mac

Ethnicity Filters on Dating Apps Raise Questions About Romantic Discrimination

Posted on October 22, 2020

Dating app racismMANCUNIAN MATTERS – Oct 21 – After Black Lives Matter protests shook cities across the world, Grindr opted to remove its 'ethnicity filter', sparking a major debate about romantic discrimination in the digital age. However, many have also expressed opposition to the update, stating that apps should respect the 'preferences' of individual users. Other dating sites were dragged into the mix. Hinge and OkCupid have said that they have opted to continue giving users the option to filter by ethnicity. Match Group argued in a statement by spokesperson Justine Sacco, "In many cases we've been asked to create filters for minorities that would otherwise not find each other."

by Jacklin Kwan
See full article at Mancunian Matters

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Match Not Seeing ‘Much of an Impact’ From Facebook as Company Invests in Video

Posted on October 22, 2020

Match group logo blue 2019DALLAS BUSINESS JOURNAL – Oct 21 – "While we're watching to see what Facebook does do, it doesn't actually change much of our strategy," says CEO Shar Dubey. The company is investing in video. "I have personally been a huge believer in the power of video in sort of bridging the gap between online messaging and then the first time you actually go on a date with someone," Dubey said.

by Brian Womack
See full article at Dallas Business Journal

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Match Group Changes Tinder’s Safety Policies

Posted on October 19, 2020

Tinder logo higher resolutionABC – Oct 19 – Match Group will change a number of its safety policies following the release of a Four Corners and triple j Hack investigation last week. Match Group said it has updated reporting functions within their apps so that users receive a response and are directed to support services. The company did not say if they have overhauled Tinder's problematic unmatch function, despite the investigation revealing that predators are using the tool to erase evidence and avoid accountability. Match Group assured users that the company is able to retrieve messages if an abusive user unmatches their victim. Just before the triple j Hack and Four Corners investigation was due to be aired, Match Group appointed a former police investigator who focused on sexual assault – Tracey Breeden – as the company's Head of Safety to review the company's policies.

by Avani Dias, Ange McCormack & Ali Russell
See full article at ABC

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Tinder Accused of Ignoring Reports of Rape

Posted on October 13, 2020

Tinder on mobileNEWS.COM.AU – Oct 13 – Australian women have claimed sexual predators and abusers are exploiting Tinder to find their victims, then using the app’s design features to disappear without a trace. Match Group has also been accused of largely ignoring victims when they come for help, according to an ABC investigation. On Tinder, unmatching is supposed to give people a way to ghost on someone who is being annoying or making them uncomfortable, but US dating app industry consultant Steve Dean says unmatching meant “someone can simply escape their bad behaviour by blocking the person they just abused”.

See full article at News.com.au

Watch the Four Corners Video:

Mark Brooks: There’s some opportunities for the industry to improve.  One thing I’d like to see is that we standardize on fast-track police contact info.  i.e. everyone should set up police@meetme.com etc.

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