The company revealed Tinder pulled in $1.2 billion in revenue over 2019, a 43% increase from 2018. Match owns several other high-profile dating platforms including Hinge and OkCupid, but overall revenue for the year was $2.1 billion meaning it gets more than half its revenue from Tinder.
While Tinder is a free app it pulls in revenue from offering users premium subscriptions Tinder Plus and Tinder Gold which come without ads and offer extra features such as unlimited likes, extra "super likes" and monthly "boosts" which push the user into their area's top ten profiles, increasing their exposure.
Match also noted that Tinder saw a 36% increase in subscriber numbers compared to Q4 of 2018, topping off the year with 5.9 million subscribers. However, subscriber growth slowed from 437,000 to roughly 200,000 between Q3 and Q4 2019, and shares in the company dropped 10% after the bell on TuesdayThe news of Tinder's soaring revenue comes as Match CEO Mindy Ginsberg is preparing to leave the company.
she would be stepping down as CEO, and the company confirmed that on March 1 she will be replaced by Match Group president Shar Dubey.SEE ALSO:
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Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »