Tinder Debuts $500 Per Month VIP Service
Contributed by: kellyseal on Friday, October 06 2023 @ 10:21 am
Last modified on Friday, October 06 2023 @ 10:39 am
Tinder announced its new exclusive VIP service Tinder Select, which will cost members almost $500 per month (which works out to $6,000 per year!).
The new service will give top-tier members access to new features like a “VIP search, matching and conversation,” according to Bloomberg, none of which are currently available in Tinder’s existing paid subscription plans. Tinder did not reveal any details about the features.
The new service might have some similarities to exclusive dating app The League, which Tinder’s parent company Match Group acquired last year. There’s a market for exclusivity on dating apps, and the company is betting that offering a premium service will work for Tinder, too.
Tinder has been testing the VIP service, but now it’s an official subscription tier, at least for those invited to join. The new service was only offered to less than 1 percent of the most active Tinder users, according to Bloomberg News[*1] .
According to the announcement, Tinder will open up applications to other users on a “rolling basis.”
The lowest subscription tier for Tinder is currently $24.99 per month, but the company is testing a new weekly service to attract younger daters who aren’t willing to financially commit, but still want some of the perks that come with a paid service.
Tinder Select is for highly motivated daters who are willing to pay for a more catered service[*2] .
“We know that there is a subset of highly engaged and active users who prioritize more effective and efficient ways to find connections,” said Tinder Chief Product Officer Mark Van Ryswyk in the announcement, “and so we engaged in extensive tests and feedback with this audience over the past several months to develop a completely new offering.”
Match Group also offers an exclusive membership subscription for its dating app Hinge, called HingeX, but for only $50 per month. HingeX users have access to perks like “priority likes,” more profile visibility with “skip the line,” and enhanced match recommendations.
Tinder revenue has fallen in recent months, so Match Group is looking for new ways to grow its business. The company pointed out in a recent earnings call that despite the decline in the number of subscribers to its dating apps, average revenue per user has grown, so the company expects Tinder Select to help bridge the gap and contribute to revenue growth.
Bloomberg pointed out that the top 10 percent of users who spend the most time on the app contributed an average of 53 percent of total time spent this year, according to data from Apptopia. If they are willing to pay for it, this could be a good move by Tinder.