Tinder

Dating app usage has increased significantly this year, in part due to the global pandemic. But as we go into cuffing season and usage continues to skyrocket, privacy experts from the Brookings Institute are cautioning dating app users to be careful with sharing their personal information.

The research firm notes that online dating has been increasing rapidly in the last decade, especially since the debut of dating app Tinder in 2012. Thirty percent of American adults had tried online dating in 2019, compared to just 13% in 2013.

This year however, there has been an explosion of new online daters. Match Group (which controls 60% of the dating app market with apps like Tinder, OkCupid, and Hinge), reported a fifteen percent increase in new subscribers in the second quarter of 2020, and a record-breaking 3 billion swipes on Tinder in one day in March when lockdowns began. From March to May of 2020, OkCupid saw a 700% increase in dates and Bumble had a 70% increase in video calls, Brookings points out.

Dating app conglomerate Match Group has announced its partnership with RAINN, the largest anti-sexual violence organization in the country, to help combat sexual assault via its online dating platforms.

According to Business Insider, the company has asked RAINN (The Rape, Abuse & Incest National Network) to conduct a “comprehensive review” of how it handles sexual assault reporting across all of its apps, and to recommend best practices to better address the problem and keep its users safe.  

Match Group has had a stellar year, with its most recent earnings surpassing last quarter’s by 3.8 percent. Analysts however pointed out that the stock has underperformed based on year over year analysis, despite the company’s increased revenues.

Match Group reported third quarter earnings of 45 cents per share, which was a decline of 13 percent from third quarter 2019. However, Match Group’s revenue paints a different picture of the company’s success, with third quarter reports of $639.8 million, an increase of 18% year over year according to Yahoo! Finance. This was driven by an increase in the average subscriber base this year, likely with more people flocking to dating apps overall as the pandemic raged on.

The average subscriber base increased 12 percent to 10.8 million according to Yahoo!, and average revenues per user (ARPU) were up 4% year over year. Still, analysts are considering how much the pandemic is affecting revenue growth in 2020, and if it will continue as we go into the new year.

Match Group’s revenue numbers increased more than expected for Q3, signaling that its customers are willing to pay for premium services in the midst of a pandemic.

According to Market Watch, Match Group reported revenue of $639.8 million for the third quarter, up from $541.5 million. Analysts had lowered expectations due to the raging pandemic and continued lockdowns, with a projection of $606 million for the quarter, which Match Group blew past. 

The company also reported a net income of $132.1 million, compared to $108.5 million in the same quarter the year before. This was due in part to star app Tinder, and also to the growth in revenue the company is seeing in its other apps, particularly Hinge, which was projected to triple its revenue growth this year.

Politically active singles used dating apps to reach out to people in swing state districts and encourage them to vote.

Election Day was November 3rd, though ballots are still being counted and tensions are high as the country remains polarized politically. Activists and organizers got creative in reaching people during a pandemic, in hopes of driving high voter turnout. Connecting with young singles in swing states via dating apps seemed an effective way to engage, rather than with traditional voter outreach methods.

The term “Hinge-banking” became a popular practice according to CNN. It’s a twist on phone banking, a typical tool used to encourage voter participation – but instead using the dating app to reach singles to ask them about their voting plans. 

Match Group announced that it was adding new safety functions to its dating apps so that victims of assault can get responses and assistance when they report abuse. The company also said it will be meeting with Australian law enforcement officials in the coming weeks to address the problem.

Match Group moved quickly to respond to a recent investigative report from ABC (the Australian Broadcasting System) on its safety policies, exposing a problem that users of its Tinder app who reported sexual assault never received responses from the company. One victim named Beth who was interviewed by ABC said she was held at knifepoint and raped by another Tinder user she’d met over the app, and when she reported the assault, nobody contacted her about it.