Hinge

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.

Tinder announced its new exclusive VIP service Tinder Select, which will cost members almost $500 per month (which works out to $6,000 per year!).

The new service will give top-tier members access to new features like a “VIP search, matching and conversation,” according to Bloomberg, none of which are currently available in Tinder’s existing paid subscription plans. Tinder did not reveal any details about the features.

The new service might have some similarities to exclusive dating app The League, which Tinder’s parent company Match Group acquired last year. There’s a market for exclusivity on dating apps, and the company is betting that offering a premium service will work for Tinder, too.

Tinder has been testing the VIP service, but now it’s an official subscription tier, at least for those invited to join. The new service was only offered to less than 1 percent of the most active Tinder users, according to Bloomberg News.

Image: hinge

Dating app Hinge recently removed the audio and video calling feature from its app, posting that people were no longer using the feature as much as they had during the pandemic.

Hinge introduced the features early on during lockdowns so that Hinge users could virtually engage rather than risk exposure through in-person meet-ups. However, things have changed since then. According to Fast Company, Hinge noted that people would rather meet in person to see if there’s a connection than do a video date.

While this move might not be a surprise to Hinge users, the company did not announce it to the press. Instead, Hinge only mentioned it in an undated blog post in its Help Center, according to Fast Company.

Image: Hinge

Dating app Hinge wants people to connect with their dates instead of scrolling their phones, and so it has launched a new guide to help curb dating distraction.

According to Mashable, a whopping 78 percent of Hinge users say that they believe their date isn’t interested in them if they look at their phones during the date (even though a lot of dating app users admit to doing this themselves). Seventy-five percent say they are more hesitant to open up to a date when they are on their phone.

Hinge’s new Distraction Free Dating Guide was created by Logan Ury, Hinge’s director of relationship science, and Moe Ari Brown, the company’s love and connection expert, in collaboration with the Foundation for Social Connection.

Popular dating apps like Tinder, Bumble, Hinge and Grindr are trying new subscription pricing to continue to grow revenue, including premium pricing as well as discounts and short-term subscriptions for young Gen Z daters.

Dating app revenue has stalled in recent quarters, and to increase revenue and paying subscribers these companies are looking at out-of-the-box pricing. Match Group is especially motivated, as it has seen revenue drop the past few months while Bumble and Grindr are still seeing gains. Many are starting to offer premium services to highly motivated and more affluent daters, who are willing to spend $500 a month on a dating app if it means better, more curated matches.

On the other end of the spectrum, these same apps want to attract younger daters, specifically the Gen Z market. Match Group is starting to offer short-term weekly subscriptions for those singles who don’t want to commit, as well as discounted pricing to encourage young daters to pay for subscriptions, instead of just opting for the free service and paying for certain in-app features as needed.