Tinder’s making a lot of money off the single people of the world.
In its final earnings release for 2019, Match Group disclosed that Tinder brought in $1.2 billion in revenue last year, further cementing its place as the dating app company’s most valuable asset.
Match as a whole earned $2.1 billion in revenue last year, meaning Tinder represents half of its income. The company, which also owns Hinge, OkCupid, and Match.com, also said Tinder averaged 5.9 million subscribers in the fourth quarter of 2019, representing an increase of 36 percent over the past year.
Tinder sells in-app subscriptions that offer users perks, including unlimited swiping and increased prominence of their profile among nearby users. It also has ads that occasionally appear between swipes.
It’s no surprise that Tinder is the biggest moneymaker for Match. That’s been the case for some years now.
However, it is surprising to see the app’s subscriber rate continue to grow. The team is courting Gen Z users with features like the interactive Swipe Night experience, which lets daters match based on decisions they made while engaging with the interactive content, as well as location-based features for music festivals and spring break.
Match is also focusing on the localization of the product abroad, along with promoting its other brands.
The company specifically calls out OkCupid for figuring out a way to bring its product abroad, mainly in India, and how it’s looking to further branch out in Turkey and Israel.
Single people aren’t going away — neither is the swipe — and Tinder’s in a prime position to make money off both of them.
source: the verge
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