Tinder subscriptions explode, love knows no crisis

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Because of the rising cost of living, people are paying a little more attention to their spending. And this affects the sales of smartphones, computers, or the advertising revenues of companies like Meta or Google (in fact, advertisers spend less on advertising).

Tech is not immune to the crisis, with a few exceptions

However, in this macroeconomic context, some companies are exceptions. For example, while smartphone sales are down, Apple posted good quarterly results, and an increase in revenues generated by its iPhones.

Since the firm focuses on the high-end segment, its smartphones are less exposed to inflation risks. And apparently, like the iPhone, dating sites are unaffected by the crisis. Despite inflation, people continue to pay for subscriptions on these sites.

Match group, parent company of Tinder, shows good results

Since it is publicly traded, Match group, the parent company of Tinder, must present its financial results every quarter. And during the three-month period that ended on September 30, the company created a surprise.

Indeed, as reported by The Guardian, Match saw the value of its stock climb on Tuesday after the announcement of a revenue of 810 million dollars, while analysts had predicted a revenue of 793 million dollars.

Tinder subscriptions were on the rise

And apparently, for many users, Tinder’s subscription is a priority expense. Despite inflation, the number of paying subscribers increased by 7%. And app revenue grew 6%.

As a reminder, if Tinder is free, its subscription allows access to additional functions. Paid users do not see ads, and can send an unlimited number of “likes”.

Tinder is still looking for its new CEO

The past few months have not been easy for Tinder, whose CEO Renate Nyborg resigned in August. And like every other business, Match was concerned about the impact of inflation on its revenue.

While the valuation of certain companies is collapsing, that of Match group is on the rise. However, the company still clarified that during the last quarter of 2022, growth should be stable. Match group intends to manage the slowing economy by reducing expenditure related to the workforce, and by reducing advertising expenditure.

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