Tinder Expects Paid Subscribers will Double in 2016

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Tinder will double it's subscriber base.

According to a recent article in Bloomberg News, Tinder expects its paid subscriber base will double by the end of the year.

The Tinder app is free to use, but about 1 million users are currently paying for its tiered service, which provides special features, such as the ability to “super-like” a profile. Super-like allows you to let the person know you think they are extra special, instead of just swiping right as usual. Other paid features include “Rewind” where users can return to a previous profile they swiped left on, or rejected, for the opportunity to choose differently.

Tinder announced recently that it will launch a new social feature to its app to connect groups of friends who share common interests. There is no news on whether that will be part of its free platform or a new paid feature, too.

Gary Swidler, chief financial officer of Tinder's parent company, Match Group Inc., described efforts to monetize the dating app as being "ahead of schedule."

Subscribers aren’t Tinder’s only source of income. The company originally started drawing revenue from ad sales.

Tinder’s huge database of more than 9 million daily users and its well-known brand, especially among the coveted Millennial age group, makes the app a great advertising vehicle for many companies looking to expand their brand awareness. Users of the service spend roughly 35 minutes per day on the app and swipe left or right 140 times, according to company executives. This means a captive audience, which is also appealing to marketers.

While Tinder will continue to sell advertising over its platform (one of the drawbacks of using the free app), they will also push forward with gaining more subscribers and developing more paid features. Tinder garnered criticism last year for charging more money to users over 30, but the company has not since changed its pricing policy.

Because of the growth in Tinder’s revenue, the management team told Bloomberg they feel confident in adding new features to the service and “taking some swings,” in terms of taking chances with the features. The company admitted it hasn’t made any significant changes to the app since adding the “Super-like” feature last November, though recently they were testing the social feature which links you through your Facebook friends to other friend groups and garnered criticism for its lack of privacy. (Users could see their Facebook friends’ Tinder profiles without their knowledge.)

Tinder is owned by Match Group, which also owns popular dating platforms Match, OkCupid, and Plenty of Fish.