Match Group, the company behind Tinder and Hinge, reported growth across all its properties this quarter
Back in February, we wrote that plenty of Torontonians were swearing off dating apps – but COVID-19 hit just one month later. With social distancing putting the kibosh on nearly every other way to meet people, dating app usage (and revenue) has soared since then.
Match, the company behind 45 different dating platforms (including Tinder and Hinge), reported growth across all of its apps in the second quarter.
The company added that more users have become paying subscribers and are more willing to pay for premium features.
Tinder saw a 15 per cent revenue spike year over year in the period between April and June. Meanwhile, the company’s other platforms (including OKCupid, Hinge, Match and PlentyOfFish) saw growth of nine per cent.
“The increased user activity reinforces that humans need to connect and our products clearly fulfill that need,” CEO Shar Dubey said in a letter to shareholders.
The company added it it expects to bring in US $600 million in revenue in the third quarter, beating expert estimates.
Match said that since COVID-19, usage rates on dating apps for younger users and women have risen. Men dropped off the app at the beginning of the pandemic, but their numbers have since rebounded, they added.
Daily messages sent across all of Match’s platforms — and daily average swipes at Tinder — are higher now than they were at the end of February.