Tinder

Tinder and Hinge have recently released new ultra-premium subscriptions for what they called “motivated daters,” but a significant population of singles would rather not pay the steep price for a dating app experience. In fact, the more companies try to monetize dating app features, the more it seems to turn off daters altogether.

A recent report from Bloomberg found that people are gravitating back to in-person events like speed dating, which saw a 63 percent increase in participation this past year according to Eventbrite. And they are reluctant to pay the $500 subscription for Tinder or $60 subscription for Hinge, though Match Group has noticed an uptick in revenue since releasing the premium services.

According to Bloomberg, third-quarter downloads for Hinge were the app’s best ever and that 1.3 million of its users pay for a subscription. Bumble will be offering short term subscriptions as well as its own high-priced premium service in the coming months.

Grindr has become the most popular dating app in the U.K. among singles aged 54 and older, according to a recent study from Ofcom, the country’s communications regulator.

According to The Pink News, Tinder was still the most-downloaded dating app in the UK, with 2.5 million users, followed by Bumble at 1.7 million U.K. users. Grindr has grown in 2023, but it still captures only about 1.9 percent of the U.K. adult population, or 924,000 users. But as far as time spent on the apps per user, Grindr wins hands-down.

In fact, the average user of the gay dating app spent seven hours on it in May of 2023, according to Ofcom, compared to only one hour on Tinder, and a bit more than two hours for each Bumble and Hinge.

Renate Nyborg, former CEO of Tinder, is launching new AI-based app Meeno to help people combat loneliness and guide them in their relationships.

According to Euro News, Meeno isn’t a dating app – instead, it acts as a “personal mentor” for navigating relationships. It operates differently from a virtual girlfriend (or boyfriend), therapist, or coach, according to Nyborg. Instead of finding you a date, it will help guide you in understanding relationships, so you can feel more comfortable interacting and connecting in real life.

Nyborg told Euro News that the young people who originally built swipe-based dating apps like Tinder are now moving to build apps that help you return to “real-life connection,” because they find the dating app experience lacking. Recent studies have also pointed to a rise in loneliness since the pandemic, where people were mostly socializing over screens.

Tinder just announced a host of new features for its app, along with its “Rizz-First” redesign, an obvious move to court the coveted Gen Z market.

While adopting the popular Gen Z slang for “charisma” was widely seen as a cringeworthy move for the dating app company, experts also agree that trying to appeal to the Gen Z market is important for dating apps, especially as subscriber bases and revenue are falling. The new Rizz-First look includes enhanced and updated animations, a new “It’s a Match!” screen, and prompts and quizzes that younger daters prefer when getting to know someone over an app.

According to the company’s announcement, the team saw a growing need to provide a more engaging experience. In fact, Tinder’s recent Future of Dating Report found that 69 percent of Gen Z daters say that dating standards need “refreshing” to fit a modern and diverse society. Overall, daters need a bit more than a photo, a brief bio, and a swipe to feel connected to someone.

College students are turning away from dating apps and prefer to meet others in person, according to a new study by Axios and Generation Lab.

The study polled almost 1,000 college students across the U.S. and found that an overwhelming majority of 79 percent do not go on dating apps or use them less than once per month. According to Axios, Tinder is still the favorite among young daters. Twelve percent of college students use Tinder at least once a month, with Bumble and Hinge close behind at 8 percent of students logging on at least monthly.

A caveat for the study: 55 percent of respondents said they were in a relationship already, so they didn’t need to use a dating app. But at least 64 percent of those met their partners outside of a dating app – either through classes, a party, or an introduction from a friend to name a few. Only 15 percent said they’d met through a dating app, according to PC Magazine UK.

The stock price for dating app conglomerate Match Group dropped after the company revealed that its Tinder app saw a significant drop in paying users. Shares went down more than 15 percent to $29, the lowest price it has traded for since the company spun off from IAC in July of 2020.

According to Newsweek, Match Group sent a letter to shareholders in early November with the news that Tinder had lost 826,000 paying customers. CEO Bernard Kim said in the letter: "While our collective efforts have put the company on much improved footing, there is still much work to be done.”

Match Group’s reported third quarter earnings were a highlight - they beat analyst estimates ($881.6 million compared to the expected $880.6 million), according to LSEG, formerly Refinitiv.