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Tinder added more than 1 million subscribers this year

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Tinder is still unstoppable. Match Group, Tinder’s parent company, announced its fourth quarter earnings today, in which it disclosed that Tinder added 1.2 million subscribers last year alone. That surge led the brand to close the year out with $805 million in revenue.

That’s nearly as much as what the rest of Match’s dating brands, which include Match.com and OkCupid, pull in combined at $872 million. Match says most of Tinder’s revenue growth is thanks to Tinder Gold, which gives members certain limited features like more Super Likes per day, the ability to swipe around the world, and insight into who’s already liked them. Tinder has also made it a goal to focus on a younger demographic of 18 to 22-year-olds through Tinder U, the university-oriented portion of the app. The company is expanding outside the US with a focus on Japan, India, and South Korea, as well.

Still, Match doesn’t seem content to accept Tinder as its golden goose. The company introduced a new app this year, called Ship, that’s designed to appeal to women and encourage group chats about dates. Match also fully acquired Hinge after it partially did so in 2018. It says downloads on Hinge were up four times year over year by the fourth quarter. While Match’s revenue is continuing to grow year over year, it needs another hit. The company notes in its earnings report that an internal survey suggested people use an average of four dating apps. Match needs to ensure all four of those are its own offerings, and then make the subscriber-only version of an app enticing enough that people want to pay to use it.



from The Verge - Teches http://bit.ly/2UKzwmN
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