More pay for dating app despite cost-of-living crisis

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More pay for dating app despite cost-of-living crisis

Messagepar geemong » Ven 4 Nov 2022 06:34

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More pay for dating app despite cost-of-living crisis


Consumers are spending less on everything from video streaming to food shopping as the cost of living rises, but it appears many are not ready to cut back on dating just yet.

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The owner of Tinder says the number of paid subscriptions to the dating app rose 7% globally in July-September.

Match Group, which also owns Hinge and OkCupid, said overall sales rose to $810m (£704m) in the quarter.

But it warned the global economic slowdown was starting to take its toll.

In particular, it said weaker economic conditions are weighing on brands such as Plenty of Fish, which cater to people with lower incomes, while people were starting to make fewer in-app purchases on its platforms.

Tinder, which is one of the world's most popular dating apps, saw its sales and user numbers grow in the three months to September.

The firm, which offers a free version of its service, said it had been helped by the return of a feature that lets users swipe right and left from their desktops.

Taken as a whole, Match has around 100 million active users, of which Tinder accounts for the lion's share.

However, although subscriptions for the dating app were up, it said Tinder users were spending less on one-off features such as "Super Likes" and "Boosts" that make your profile more visible.

Match is also forecasting revenue growth at Tinder to be flat in the last three months of the year.

Overall Match, which says hundreds of millions of people have used its apps, said it had 16.5 million paying customers across its brands worldwide in the quarter.
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