The datingapp, Tinder, which pairs people based on a mere glance and swipe of a user’s photograph, is easy to navigate and eliminates the standard, time-consuming features of traditional dating sites that can be overwhelming for users. This user-friendly approach produces 1.6 billion swipes worldwide. The app is expected to have 25.7 million users in the U.S. in 2023.
Tinder is owned by Match Group, which owns other dating platforms, including Hinge, Match, OkCupid, and Meetic. Tinder is free to download and has a freemium business model, meaning that its basic features are free to use, but to entice users for better results, Tinder offers paid features. These paid features include subscription plans. These subscription plans come in three tiers: Tinder Plus, Tinder Gold, and Tinder Platinum. Tinder also makes money through in-app purchases, which are Boosts, Super Boosts, and Super Likes.
Key Takeaways
- Tinder is a dating app that allows users to swipe right or left (yes or no) on an individual's profile, which is primarily made up of a person's images.
- Tinder is a subsidiary of Match Group, which owns other popular dating platforms, such as Hinge and OkCupid.
- While Tinder is free to download and its basic version is free, the company makes money through subscription plans and in-app features.
- Match Group does not break out Tinder's revenue segments but only provides the revenues that Tinder brings to the company.
- In 2023, Tinder announced various new features to the app, such as inclusive features related to the LGBTQIA+ community and the hosting of in-person events.
Tinder's Financials
In May 2023, Match Group announced its financials for its first quarter of fiscal year (FY) 2023, for the period ending March 31, 2023. The company provides revenue breakdowns for its main subsidiaries: Tinder, Hinge, Match Group Asia, and Evergreen & Emerging. It does not provide any income breakdown for these subsidiaries nor does it provide any further revenue breakdown for each subsidiary.
For Q1 2023, Tinder had revenues of $441 million. This is the same amount of revenue it generated in Q1 2022, therefore not generating any growth year-over-year (YOY). Tinder makes up 57% of Match Group's total revenue.
Tinder's Business Segments
Match Group does not report on Tinder's business segments but Tinder makes money through subscription plans and in-app purchases.
The different subscription plans and their costs are Tinder Plus ($7.99/month, $4.00/month for six months, or $2.67/month for a year), Tinder Gold ($24.99/month, $12.50/month for six months, or $8.33/month for a year), and Tinder Platinum ($29.99/month, $15.00/month for six months, or $10.00/month for a year).
Each higher plan offers more features. These features include unlimited likes, unlimited rewinds, passport to any location, hidden advertisem*nts, five super likes a week, one boost per month, see who likes you, and prioritized likes.
For those who do not sign up for a subscription plan, they can pay for using features per use, such as boosts and super likes.
Tinder's Recent Developments
In May 2023, Tinder announced it was adding certain features to make the platform safer and more inclusive for the LGBTQIA+ community. It would include stickers that users could incorporate into profiles that would announce to others certain aspects of their life and experiences. These stickers include "My First Pride," "Came Out Online," "Save Queer Spaces," "Happy Pride," and "Pride Ally."
In May 2023, Tinder announced the creation of its "Single Summer Series," which are dating events hosted across the country. The goal of these events is for people to get to know one another in a safe setting in a more authentic way. The app notifies people of the locations and individuals are allowed two tickets, one for themselves and one for a match.
