Category: Tinder

Match Group Q3 Financial Results

Posted on November 7, 2024

Match Group logo MATCH GROUP – In Q3 2024, Match Group's revenue grew by 2% YOY, reaching $895M. The period saw a 3% decline in total payers to 15.2M, while revenue per payer increased by 5% to $19.26. Operating income fell 14% to $211M due to impairment costs associated with phasing out certain live streaming services, although adjusted operating income rose 3% to $343M. Share repurchases continued, totaling $241M for the quarter.

Tinder's performance showed improvement, with a 4% decline in payers, less than Q2's 8% drop. Hinge achieved significant growth, with direct revenue up 36% YOY and reaching record downloads in the U.S. and Europe. Match Group Asia saw steady growth for Azar, especially in Europe, while Evergreen and Emerging brands continued expanding into specific demographic markets.

Match Group expects Q4 revenue between $865-$875M, with slight growth excluding revenue from discontinued services. An Investor Day scheduled for December 11, 2024, will outline further strategic insights.

See full article at Match Group website

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Texas Law Shields Tinder and OKCupid from Biometric Privacy Suit

Posted on November 4, 2024

Lawsuit dismissed
ID TECH – A federal judge in Dallas dismissed a biometric privacy lawsuit against Match Group, owner of Tinder and OKCupid, which alleged violations of the Illinois Biometric Information Privacy Act (BIPA) due to collecting user biometric data without proper consent. The case involved Tinder's 2020 photo verification feature using video selfies. Judge David C. Godbey ruled that Texas law was applied based on the apps' terms of service, which does not allow individuals to sue over biometric privacy like Illinois' BIPA.

See full article at ID Tech

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Tinder’s ‘RomCom’ Campaign Launches in Australia

Posted on November 4, 2024

Tinder's 'RomCom' CampaignCAMPAIGN BRIEF – Tinder's 'RomCom' campaign, part of the global 'It Starts With a Swipe' series by Akcelo and Amplify, has launched in Australia. Using TikTok content with local influencers, it humorously contrasts real-life romantic challenges with the ease of finding love on Tinder. Set in everyday locations, it shows Tinder simplifies making connections. The campaign runs until mid-November.

by Ricki Green
See full article at Campaign Brief

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Dating App Ad Spending in 2024 Set to Surpass 2023, With Bumble Leading the Charge

Posted on October 23, 2024

Tinder advertisingMEDIA POST – Dating app ad spending in 2024 is set to surpass 2023's total, with the top six apps (Bumble, eHarmony, Grindr, Hinge, Match.com, and Tinder) spending $147M by July, compared to $220M for all of 2023. Bumble has overtaken Tinder as the top advertiser, spending $44M, driven by a major rebranding effort. Despite a rise in consumer burnout with dating apps, including 78% reporting occasional fatigue, platforms are increasing their marketing to regain interest. Match Group plans to boost marketing for Hinge and Tinder in Q3, while Bumble will also increase its Q4 spending to attract users.

by Danielle Oster
See full article at Media Post

Dating Apps Introduce Political Features Ahead of Upcoming Election

Posted on October 17, 2024

The Right Stuff logoCNN – Dating apps increasingly incorporate political features ahead of the upcoming election, recognizing that politics plays a crucial role in modern dating. Tinder introduced a "Take Action Center," offering voting-related stickers and resources in partnership with Vote.org. OkCupid added new questions focused on voter behavior to help users find compatible matches. Users prioritize political compatibility, with many viewing political differences as deal breakers. Meanwhile, The Right Stuff, a conservative dating app, focuses on aligning users with shared values without explicitly being overtly political.

by Kaanita Iyer
See full article at CNN

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Younger Daters Are Tired of Swiping

Posted on October 14, 2024

FROMLOS ANGELES TIMES – Younger users are growing tired of traditional dating apps like Tinder, Bumble, and Hinge, leading to a shift in the online dating market. Startups in Los Angeles are offering alternatives that focus more on in-person connections and less on swiping. Apps like "First Round's on Me" encourage real-life meetups, while others, like Lox Club and Feeld, host social events to foster deeper connections. Gen Z is moving away from swipe-based models, preferring more intentional dating experiences. Although the major apps remain dominant, they face slowing growth, with Tinder and Bumble seeing declines in user engagement and revenue. Smaller, niche apps are emerging but often struggle to scale, with the likelihood of being bought out by larger companies. The industry remains profitable but stagnant, with innovation needed to reignite growth.

by Caroline Petrow-Cohen
See full article at Los Angeles Times

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Dating Apps Revive In-Person Connections With Real-World Events

Posted on October 14, 2024

Dating app eventsSLATE – Dating apps are reviving in-person connections with events like Tinder's Chaotic Singles Parties and Ice Cream Socials in cities such as Miami, Los Angeles, and New York, offering real-world mingling opportunities. Bumble hosts Bumble IRL, providing offline meetups, while Feeld organizes Feeld Socials for face-to-face interaction. Match Group's Yuzu app also runs speed-dating events, aiming to move beyond digital swiping and foster more personal connections. These initiatives respond to growing dissatisfaction with purely online dating, helping singles reconnect in real life.

by Magdalene Taylor
See full article at Slate

Mark Brooks: Singles events on dating apps are window dressing and a means of generating buzz if they're done exceedingly well. They are a pain to manage and execute well but should be in every dating app's arsenal to show to the world that they can, indeed, draw a crowd.

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The Rise of Analog Dating: From Fliers to Pitch Events as Alternatives to Dating Apps

Posted on October 10, 2024

Dating pitch decksNEW YORK TIMES – Analog dating methods are making a comeback, with people using fliers, billboards, and dating events to find connections. Dating app Fourplay launched a flyer campaign in New York City, leading to a rise in analog approaches like "dating business cards" and "pitch me" events. In Philadelphia, a man used a billboard to advertise his single status, garnering hundreds of responses. Events like Tinder Disrupt, where friends give PowerPoint presentations to pitch singles, are gaining popularity. These alternatives reflect frustration with dating apps and a desire for more organic, personal connections.

by Sara Radin
See full article at New York Times

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Activists Push for Change at Match Group Following Post-Pandemic Slowdown and Valuation Drop

Posted on September 23, 2024

Match Group logoFINANCIAL TIMES – Starboard Value revealed in July that it had built a 6.6% position in Match Group. Elliott Investment Management, according to S&P Global Market Intelligence, amassed a stake of 4.5% earlier this year and got Match to add two new board members and sign an information-sharing pact. Anson Funds Management, a smaller fund, also has a stake. Activists have good reasons to push for change. Dating apps enjoyed a surge in popularity during Covid-19 but have struggled with a post-pandemic slowdown in growth. At its 2021 peak, Match was worth ~$50B. Its value now stands at just $9.3B. Bumble, which went public in 2021, is down 90 % since its IPO. Match still remains highly cash-generative, with $829M in free cash flow last year. Starboard thinks there is an upside if Match can turn around Tinder, cut costs and ramp up buybacks. The activist sees potential in Hinge. However, it also urged Match to consider selling itself if it cannot revitalize the business.

See full article at Financial Times

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Tinder Launches ‘Take Action Center’ to Mobilize Young Voters for 2024 Elections

Posted on September 23, 2024

Tinder Take Action Center Initiative
TINDER PRESS ROOM – Tinder has launched a 'Take Action Center' powered by Vote.org to help single voters, particularly those under 36 using dating apps, engage in the November 2024 elections. A survey shows that 70% of these "Tinder Singles" plan to vote, making them a significant voting bloc. The 'Take Action Center' provides registration info, polling locations, and voting resources directly through the app. Tinder has also teamed up with Vote.org to host a voter outreach event at the Eras Tour in Indianapolis. This initiative continues Tinder's efforts to boost voter turnout and support reproductive rights.

See full article at Tinder Press Room

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