EUREKA – Eureka, operator of Japan's popular dating and matchmaking app "Pairs," has appointed Ryoma Yamamoto as the new CEO. Yamamoto brings extensive experience in technology, business growth, and transformation from global companies, having worked at McKinsey & Company for over a decade and contributing to the rapid spread of mobile payments in Japan through Apple Pay. His new role will involve making efficient management decisions and leveraging the knowledge of the US Match Group. Former CEO Junya Ishibashi will resign from his position but will continue contributing to the growth of Eureka and Pairs as a director.
Category: Pairs
Survey Shows 80% of Young Adults in Japan Did Not Date During the Pandemic
PRESS RELEASE – Eureka, a subsidiary of Match Group and the operator of Japan’s Pairs dating app, conducted a survey to study changes in young adults’ attitudes toward love this spring. The survey of 1,000 respondents found that 50% are eager to go on a date that would lead to a romantic relationship this spring. Additionally, 88.5% of respondents are using a dating app. Of those who were still single, 80% claimed that they did not go on a date during the pandemic.
The Dating App Revolution Has Hit Japan
JAPAN TIMES – In a recent survey of 20- to 40-year-olds in Japan, 80% of unmarried men and women said they wanted a relationship. But a majority of that number, 55%, said they were moderately or very passive in their approach to dating. In addition to internationally known apps such as Tinder and Bumble, popular Japanese dating apps include Omiai, Pairs, Tapple and YYC (in order from least to most casual). Despite their popularity, users still report complaints about the dating app method in Japan. Men lament getting regularly stood up, and women describe a frequent expectation of sex on the first date that can sometimes turn aggressive. Both men and women have also complained about ghosting. "72% of Tinder members say they want to meet someone who understands exactly what they're looking for," says Kyo Cho, the country manager at Tinder Japan. To address that, Tinder recently introduced a "Relationship Goals" tab for user profiles that lets them display what they're looking for, with the options of "long-term partner," "long-term, open to short," "short-term, open to long," etc.
More Singles Turn to Dating Apps, But Inflation Puts Dent in Plans
by Charles Epstein
See full article at Newsweek
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Post-COVID Dating in Japan
by Yuya Takahashi
See full article at Nikkei Asia
Investor Wariness of Subscription Tech Services Extended to Dating Apps
by Laura Forman
See full article at Wall Street Journal
See the top news on Match Group
See the top news on Bumble
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Match Group Q1 Results – Revenue up 20%, New CEO
MATCH GROUP – Total Revenue grew 20% YOY to $799M. Operating income was $208M, an increase of 10% YOY. Payers increased 13% to 16.3M, up from 14.4M in the prior year quarter. Tinder Direct Revenue grew 18% YOY, driven by 17% payers growth to 10.7M. All Other Brands collectively grew revenue by 22% YOY driven by 14% RPP growth and 7% payers growth to 5.6M.
Key points from Match Group's letter to shareholders:
- Match Group CEO Shar Dubey is stepping down. She will remain as a director and advisor to the company, and Bernard Kim will resume his role as CEO.
- Match Group has published its 2nd annual Impact Report to share its progress on social, environmental, and governance initiatives.
- In Japan, Tinder launched a co-marketing campaign with Netflix for the dating reality TV show Love is Blind: Japan.
- Tinder Coins, its in-app virtual currency, is on track to launch globally this summer.
- Hinge is on track to launch in its first non-English speaking market, Germany, in Q2.
- Hinge is on pace to more than 10x revenue from 2019 to 2022.
- Match, Meetic, Pairs, and POF all successfully leverage tech features from Hyperconnect into their products.
Match Group Financial Results – 2021 Revenue Just Under $3B
MATCH GROUP – Total Q4 Revenue grew 24% YOY to $806M. Operating income was $232M, up 9% YOY. Payers increased 15% to 16.2M, up from 14.2M in the prior year quarter. Tinder Direct Revenue grew 23% YOY driven by 18% Payers growth to 10.6M and RPP growth of 4%. All Other Brands collectively grew Direct Revenue 26% YOY, driven by 16% RPP growth and 9% Payers growth to 5.7M. In 2021, Match Group's Total Revenue was just under $3B with operating income of $850M. Tinder generated ~$1.7B in Direct Revenue in 2021, up 22% over 2020. Hinge produced $525M of Direct Revenue in 2021, achieving a 91% YOY growth rate. Hyperconnect saw better performance in December compared to the preceding months. Several Match Group brands have begun to leverage Hyperconnect's technology. Meetic opened online video cafes, and Match is offering 1:1 video chat on its app. Pairs and POF intend to leverage Hyperconnect's tech into their apps in early 2022.
Japanese Dating App, Pairs, Gives Women Control and Makes Men Pay
WALL STREET JOURNAL – Apr 25 – Match Group says Japan is its second-biggest market after the U.S., thanks to the popularity of its Pairs app. The company says its revenue in the country is seven times what it was five years ago. Pairs is Japan's top-ranked dating app, with 3.1M downloads in 2020, according to App Annie. It is aimed at singles serious about matrimony and tries to make women comfortable about signing up. Men have to pay and show their full real names if they want to start chatting. Women get in free and can use initials (46% of Pairs users are women). "Internet dating in Japan wasn't just stigmatized – it was beyond a stigma. It was viewed as dirty," said Mark Brooks, a consultant who advises internet dating businesses. "Japan has always been enticing to internet dating companies, but they knew they had a job to do to clean up the reputation of the industry overall." About half of Match Group's $2.4B in revenue last year came from outside the U.S. Match Group's success in Japan started with an acquisition of Eureka, the developer Pairs, in 2015.
by Suryatapa Bhattacharya
See full article at Wall Street Journal