During the COVID-19 pandemic, dating apps experienced a surge in users. Match Group, which owns over 45 dating brands including Tinder, Hinge, and OKCupid, reported an increase in subscribers and downloads in its second quarter 2020 earnings report, surpassing pre-pandemic levels. However, many dating platforms now struggle to grow sales, attract new users, and convince younger generations to pay for subscriptions.
report report However, many dating platforms now struggle to grow sales, attract new users, and convince younger generations to pay for subscriptions. According to The New York Times, industry giants Match Group and Bumble have collectively lost over $40 billion in market value since 2021.
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