Contributed by: ElyseRomano Friday, March 06 2020 @ 09:29 am
After a tumultuous year that involved an FTC lawsuit, a split from parent company IAC and the departure of CEO Mandy Ginsberg, Match Group has published its fourth quarter and full year financial results for 2019. Total revenue for the company exceeded $2 billion for the first time.
For the third quarter 2019, Match Group shared the following highlights:
For the full year 2019, The Meet Group highlighted the following achievements:
Tinder was, once again, the primary driver of Match Group’s growth. Just five years after its first monetization features launched, Tinder’s direct revenue exceeded $1.1 billion in 2019. Match Group will focus on three critical areas for Tinder this year: trust and safety, product innovation to improve engagement and successful matching, and user growth and monetization.
Hinge also had a strong year. In 2019, Match Group prioritized refining the Hinge product and user experience while driving additional growth with new marketing efforts. Downloads of Hinge grew over 100 percent year-over-year and revenue increased by approximately 400 percent. Given the explosive growth of Tinder over the last five years, Ginsberg said, Match Group is confident Hinge has a great deal of potential left to explore.
OkCupid’s year was dominated by provocative marketing strategies and international expansion. In India, in particular, OkCupid made impressive strides that Ginsberg called “a template for additional geographic expansion.” OkCupid has achieved eight consecutive quarters of around 10 percent year-over-year growth.
For Q1 2020, Match Group expects total revenue of $545 million to $55 million, for year-over-year growth of 17 percent to 19 percent and EBITDA of $170 million to $175 million.
“As we begin 2020, our fifth full year as a public company, the business is in terrific shape,” Chief Financial Officer Gary Swidler said in an earnings conference call. “Tinder has grown like few other companies before it. We're working to attract the next generation of users, expand the business globally and drive continued outstanding revenue and profit growth… We believe there are few companies poised to deliver the combination of growth, profitability and free cash flow generation over the next five years that we expect to deliver.”