Marketing

Match Group’s stock rose 21.3 percent during the month of June thanks to analysts’ more positive expectations of a turnaround at Tinder, and CEO Bernard Kim’s large insider buy of the company’s shares.

According to Motley Fool, there is new confidence among analysts in the dating company’s stock, which had been falling in part due to struggles with its flagship dating app Tinder, which led to the company falling short of revenue expectations in the first quarter of 2023.

To respond to concerns of falling subscriptions, the company has been promoting new premium in-app features. It has also invested in a huge marketing campaign for Tinder aimed at Gen Z, its fastest-growing audience. The effort seems to be working, since Gen Z is its fastest-growing audience.

NBCUniversal’s Peacock has struck a deal with dating app company Match Group to offer a three-month free subscription of its streaming service to users of the company’s popular dating apps.

The theme of the new campaign is “find someone to get streamy with,” according to the joint announcement.

The companies kicked off the campaign on June 22nd according to The Hollywood Reporter, and the offer will be extended to users of all of Match Group’s apps, including Tinder, Hinge, OkCupid, BLK and Plenty of Fish.

According to the announcement, the campaign will include “editorial content” and “experiential events” that are tied to Peacock programming, such as the upcoming Women’s World Cup and Big Ten football games. Match Group app members who participate will be eligible for additional offers and promotions from Peacock for the duration of the campaign, but the 3-month subscription is available now.

Image: Bumble

Dating app Bumble is showing users it puts safety first according to its recent ad campaign “The New Rules of the Game,” which won an award from The Drum for Marketing the Americas 2023.

According to The Drum, Bumble wanted the campaign to speak to women, who are often worried about meeting people on a dating app because they are likely to encounter rude or explicit messages or photos when they are searching. The company highlights all the ways Bumble is creating a safe space for singles, where dating can be both safe and fun.

The campaign focused on real and important issues for daters while at the same time making it playful and engaging by doing a series of sports-related ads. In one, a female baseball player is up for bat and waiting for the pitch while the narrator talks about the “Private Detective” feature which keeps photos blurred, unless the user says it’s ok to see. At the end, the batter catches an eggplant and smiles, adding to the humor.

Tinder has added new profile stickers to celebrate Pride month, and as young LGBTQIA+ daters become the fastest-growing user base on its platform.

Young users can now add “My First Pride” as a sticker to help them connect with others attending Pride-related events, according to The Advocate. “Came Out Online” is another sticker specifically honoring younger Tinder users who first came out on a dating app or social media platform.

In fact, Tinder’s new Future of Dating Report found that 54 percent of LGBTQIA+ singles between the ages of 18 and 25 come out on dating apps first, and to friends and family later. The study also found that young singles say their sexual identity and gender identity have become more fluid over the past three years.

Shares of Match Group stock rose following the company’s second quarter forecasts, despite the decline in earnings for Q1.

Match Group reported EPS (earnings per share) of 42 cents, beating the consensus of 41 cents, per Reuters. It’s also a 5 percent increase from the same period last year. Revenue however was $787.12 million for the quarter, below the expected $793.87 million, and a 2 percent decline from the same time last year according to Yahoo! Finance.

Paying app users decreased by 1.1 percent to 15.87 million, according to Yahoo!, but revenue per payer actually increased to $16.26, up from $16 in the last quarter, a hopeful sign.

Four college students have developed a new AI tool that is aimed to help singles communicate better over dating apps. Rizz generates personalized responses to messages using a screenshot of the chat, so singles can choose one, customize it, and move conversations forward.

The developers are coders who told The Washington Post that they struggled to chat with people, and this inspired them to create the app. "The reason we created this app is that we're experiencing the pain of not fully knowing how to converse with people," co-founder Charis Zhang told The Washington Post.

Rizz’s founders are all sophomores in college, with Zhang, Oliver Johansson and Tobias Worledge at the University of California at Berkeley; and Daniel He goes to school at the University of Southern California in Los Angeles.