Memberships

Dating apps are struggling right now, and many Gen Z women are looking to other platforms like LinkedIn and Instagram to meet people.

A new article in The Financial Times cites a poll from Mintel that found that 47 percent of men between 18 and 34 had used a dating app or website to meet someone this past year, compared to only 25 percent of women of the same age.

“Trying to engage young women is the biggest struggle for dating apps,” said Rebecca McGrath, associate director for media and technology at Mintel. “Significant gender skew means it is harder for men to find matches and, subsequently, women often become bombarded, making the experience worse for all.”

Dating app Tinder continues to lose paying subscribers according to Match Group’s latest earnings report. Match Group’s overall revenue for Q1 has been impacted by Tinder’s ongoing struggles, but it continues to hold strong in the dating app market overall.

According to Fast Company, Match Group said that Tinder’s paying user base for the first quarter fell 9 percent from the same quarter last year. The company’s CEO Bernard Kim remained optimistic, saying that they expect to slow user declines in the second half of the year.

However, Match Group’s revenue is up, with net income at $123.2 million for the first quarter of 2024 compared to $120.8 million this time last year, according to Marketwatch. Revenue rose 9 percent for the company to $859.6 million, compared to $787.1 million the same time last year. (Match Group revenue also beat overall analyst expectations of $855.8 million.)

Dating app Tinder has agreed to provide more transparency about its pricing for premium services to users in the EU. The agreement follows a probe from the European Union’s consumer watchdog agencies when complaints surfaced from daters who were charged different fees for the same service.

According to Reuters, Tinder agreed to better inform users about its pricing, specifically the personalized discounts it offered. Users who showed little interest in purchasing one of the dating app’s standard premium services were later offered personalized discounts to get them to pay for Tinder. It was also disclosed that the app was using automation to identify these users and to personalize the prices for them.

In fact, a study in Sweden in 2022 showed that Tinder was offering 36 different “personalized” price levels, ranging from about $3 U.S. to as much as $36 per month for the same premium service, which prompted the investigation.

New research has shown that the dating app market, once booming after the pandemic, has started to show signs of slowing down.

According to Tech Crunch, research firm data.ai found that global downloads of dating apps saw very tepid growth year-over-year in January 2024. The slight increase of 1.9 percent (128 million installs) from January 2023 was down drastically from the 29 percent increase seen the year before.

In the U.S., data.ai found only a 2.38 percent year-over-year growth from January 2023 to January 2024, with 12.7 million installs, down from a 16 percent growth seen during the same time period last year.

The U.S. market is one of the largest and most lucrative for dating apps, but Pew reported last year that only three in ten U.S. adults had ever used a dating app or online dating site, the same percentage that was reported in 2019. This was surprising considering how dating apps took off during the pandemic and the years immediately following.

Match Group released its first quarter revenue forecast, falling below Wall Street analyst expectations as users continue to cut back on their dating app spending.

According to Reuters, the company also authorized a $1 billion share buyback plan.

The company, which owns Tinder, Hinge, OkCupid and Match among other dating apps, said paying users declined 5 percent in the fourth quarter of 2023 compared to the previous year, to 15.2 million. It expects revenue between $850 and $860 million for the first quarter, down from analysts’ forecasts of $867 million on average, according to Reuters.

Dating platform Feeld debuted an updated app with more features in early December, only to find that users were having trouble logging in or using the app at all.

In a statement posted on its website about the app’s troubled relaunch, Feeld said: “Since our app update on Friday, we’ve been listening to your invaluable feedback, and understand your concerns about some of the changes, technical issues, and our responses. We know that some of you missed out on Feeld dates, Connections and experiences, and we are working on meaningful ways to make this right.”

After almost two weeks of continued problems, the dating app provided another update in mid-December.