Statistics

Tinder CEO Renate Nyborg

Image: Match Group

Gen Z makes up more than half of all Tinder users, and they are using the app differently than their older counterparts.

According to a recent interview with Tinder CEO Renate Nyborg published in Fortune, she said that over 50 percent of users are between the ages of 18 and 25, and they are more comfortable keeping things virtual compared to millennials, who typically message each other and schedule a time to meet in person. In 2021 Tinder was 56% of Match Group's revenue which was nearly $3 billion USD.

Gen Z daters have a different approach, which Nyborg referred to as “slow dating.” She noted that Gen Z daters are much more intentional and looking for a connection: “You match with someone, you chat, you go on an Animal Crossing date, you chat some more, you exchange Spotify playlists, and then two months later, you might go on a date.”

Bumble’s stock jumped 20 percent after an earnings report from the company showed an increase in revenue for the fourth quarter of 2021, finishing far ahead of analyst expectations.

According to Yahoo!, Bumble’s overall revenue for Q4 in 2021 increased 25.7 percent to $208.2 million compared to $165.60 million for the same quarter the year before, including the negative impact from foreign currency movements year over year. Total paying users also increased 10.6 percent to 3 million, compared to 2.7 million at the end of 2020. Total average revenue per paying user (ARPPU) was $22.83 in Q4 2021, compared to $20.02 in Q4 2020.

While Badoo’s app revenue decreased 3.5 percent to $57.7 million compared with $59.8 million from 2020, Bumble app revenue was on the upswing with a 42.2 percent increase in revenue to $150.5 million in the fourth quarter last year, compared to $105.8 million the year before, not only offsetting but far surpassing the losses.

A young dater joined dating app Hinge and was swindled out of $390,000 in a fraud scheme involving cryptocurrency.

According to USA Today, 24 year-old Nicole Hutchinson of Tennessee signed up for the popular dating app looking to meet someone in California, where she had planned to move. She had almost $300,000 from the sale of her late mother’s house and was looking to build a life somewhere new.

She matched with a man named “Hao” according to reports, and after he told her he was born in the same town as where she was adopted, she felt a connection and continued texting him over WhatsApp. He told her he was knowledgeable about the cryptocurrency market and wanted to “teach her” how to invest.

In February, the FBI issued an alert about the increase in online dating scams, noting that dating app users were cheated out of about $1 billion in 2021 alone. The Federal Trade Commission (FTC) said reports of romance-led scams increased 80 percent during the same time. 

The FBI also received more than 25,000 reports of dating app-related fraud in 2021, according to USA Today.

The Netflix documentary about the Tinder Swindler has brought attention to the intricate methods that scammers use to romance people and lure them to give money or share sensitive information like a passport or banking information. In the case of the Swindler, he used money from other victims to fund his lavish lifestyle and move on to his next target. (Hint: if someone who wants to fly you on a private jet also asks you for $25,000, you should be suspicious!) 

The online dating market continues to grow in the wake of the pandemic, with expected revenue to increase to $4.5 billion US by 2025.

According to research firm Statista, the industry is expected to reach about $3.7 billion US this year (up from $2.86 billion in 2020) as more people join and become active users, in part due to global lockdowns. The pandemic has shifted attitudes towards dating apps, with more singles than ever before downloading and swiping.

Revenue has increased along with new users, as many of the apps are offering popular “freemium” pricing in addition to subscriptions. While the majority of users don’t want to commit to paying a monthly fee to join a dating app, they are willing to pay for certain features, like messaging, being able to see if someone already liked their profile, or putting their profile at the top of search lists. Offering these services as premium paid features has been a boon for dating apps, increasing overall market revenue substantially, especially during the pandemic.

Match Group, owner of the popular dating apps Tinder, OkCupid and Hinge, has sued dating app MuzMatch for Trademark infringement.

The online dating company said that MuzMatch, a British-based matchmaking app for Muslims, has copied their products and services, according to The Daily Mail. Match Group pointed to the use of the word “match” in the app’s metadata, which are keywords used by companies to make their products more prominent in Internet search findings. Match Group says that MuzMatch has included keywords like “match-muslim” and “uk-muslim-match,” which the company says are its registered marks that MuzMatch is co-opting for their own benefit.

MuzMatch rejects the allegations, saying that Match Group doesn’t have claim to the word “match.” The British company also has a U.S. copyright registration for the wordmark “Muzmatch” that has been in place since 2015, as well as in France and Germany.