Category: Outlets – Wall Street Journal
Grindr to Delve Into Dating as More Users Seek Long-Term Relationships
WALL STREET JOURNAL – Grindr, a dating app best known for facilitating hookups between gay men, wants to get more into dating. The app is planning to add several new features aimed at helping its users, who are primarily gay and bisexual men, match up with others with the same intentions, from short-term sexual encounters to long-term relationships. The additions include using AI to identify users with shared interests. Grindr shares are up 17% this year, while Match is down 17% and Bumble has lost nearly a third of its value. This week, Grindr raised its revenue outlook for the year to ~25% growth from ~23% growth. It also forecasts between 20% and 25% annual revenue growth through 2027, equating to ~$600M in 2027 from ~$260 million in 2023.
Dating Apps Once Ran on Novelty. For Some Users, the Fun Is Over
by Sara Ashley O'Brian & Katie Deighton
See full article at Wall Street Journal
See the top news on The League
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Dating Apps’ Hidden Money-Making Strategies, Explained
WALL STREET JOURNAL – The $5B dating app industry is largely dominated by Match Group. But downloads across the industry are falling. Here’s how some apps are shifting to stay competitive, with features that go beyond just dating. Video featuring Mark Brooks, CEO of Courtland Brooks; Shahzad Younas, CEO of Muzz; George Arison, CEO of Grindr; and Whitney Wolfe Herd, Founder of Bumble.
See the top news on Bumble
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Dating Apps Make Push to Court ‘Generation Z’
by Denny Jacob
See full article at Wall Street Journal
See the top news on Match Group
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Online Dating Apps Encounter a Rise in Ethical Non-Monogamy Profiles, Sparking Mixed Reactions
WALL STREET JOURNAL – Dating app users seeking monogamous relationships are increasingly encountering profiles of people in open or ethically non-monogamous (ENM) relationships, causing confusion and frustration. Mainstream apps like Hinge and Bumble, traditionally used for finding monogamous partners, now host a growing number of ENM users. While some advocate for specific filters to separate these different relationship preferences, others argue for inclusivity of all relationship styles. This trend reflects a broader shift in relationship dynamics and the diversity of modern dating preferences.
The Surge of Senior Dating Apps and Events
WALL STREET JOURNAL – Dating in one's 70s is gaining popularity, thanks in part to specialized mixers and dating apps for those aged 65 and older. The demand for senior dating services is rising in the U.S., where the over-65 population is expected to outnumber those under 18 by 2030. Currently, 30% of Americans over 50 are single, a figure that increases to 36% for those over 65. Workshops and dating coaches, like Lisa Copeland of findaqualityman.com, offer tailored support for older adults re-entering the dating scene, addressing their unique challenges and shifting perspectives on dating later in life.
Match and Bumble Suspend Ads on Instagram Amid Concerns Over Algorithm Serving Inappropriate Content
WALL STREET JOURNAL – The Wall Street Journal's testing revealed Instagram's algorithm served inappropriate content, including sexualized videos of children and adults, to users following young influencers. Ads from major brands, including dating apps Bumble and Match Group, appeared alongside this content. Bumble and Match responded by suspending their ads across Meta's platforms, with Match cancelling its Meta advertising due to dissatisfaction with Meta's response to the issue. The tests raised concerns about child safety and the misuse of algorithms, prompting Meta to state it was investigating and would pay for brand-safety audits. The situation highlighted the need for stricter content regulation on social media platforms.
by Jeff Horwitz & Katherine Blunt
See full article at Wall Street Journal
Yelp, Strava and Duolingo Are…Dating Apps?
WALL STREET JOURNAL – On the internet, every app can be a dating app. Striking up a conversation on a service where you know someone shares your interests can feel more natural than sifting through dating apps, former dating-service users say. Online dating also has become more expensive, with subscriptions that can cost more than a monthly Netflix plan. Fewer people are willing to pay up, as the companies' financial reports have shown.
by Ann-Marie Alcántara
See full article at Wall Street Journal
Mark Brooks: Dating apps help people get the tough questions out of the way right up front. Using other apps for dating is possible but can be kinda creepy and undermine the culture of those non-dating apps. Case in point, remember when Meetup banned singles events and groups in 2016!? Dating apps need to help people find commonality and harmony, get onto quick video dates, and then prep them for real dates. We can do more to help people with pre-date preparation and other services/values. There is much more value that we can unlock.
Dating Apps Need to Rekindle Romance With Wall Street
WALL STREET JOURNAL – Bumble's share price slid ~5% on Monday morning after the company said that founder Whitney Wolfe Herd is stepping down from the CEO role. She will remain as executive chair, while Lidiane Jones will take over as CEO on Jan 2. She currently heads up Slack Technologies, where she became CEO almost a year ago under the ownership of Salesforce. Shweta Khajuria of Evercore ISI wrote: "We view Whitney's departure as a near to midterm headwind for business operations and a negative for overall company morale." Investors weren't exactly hot for Bumble anyway, or Tinder owner Match for that matter. Bumble's share price was already down 35% for the year ahead of Monday's news, while Match was down 31%. The latter's stock slid more than 15% after it reported third-quarter results last week that showed a continued decline in the number of "payers" on the Tinder app.