Tinder's decline met with Hinge's rise amidst shifting dating trends
The recently published financial report of the dating app market giant Match Group reveals the difficulties that Tinder is experiencing. For the sixth consecutive quarter, a decrease in premium users has been recorded. However, there's a growing interest in its rival, Hinge.
12 May 2024 08:46
Who hasn't heard of Tinder? Just a few years ago, this dating platform enjoyed significant interest, attracting numerous users. Even if we overlook questions about the effectiveness of Tinder in achieving its main goal, which is to facilitate new relationships, it's hard not to notice that for some time now, Match Group has struggled to improve functionality and eliminate problems related to bots, which spoil the overall experience of using the app. However, there is enthusiasm for introducing new, albeit not always clear, features, such as the recently added ability to share information about your date on Tinder.
Hinge becoming more popular
Unfortunately, as the earlier financial report mentioned, Tinder is increasingly losing popularity. Although it can still boast an impressive active user count of 50 million, only 10 million are paid subscribers. At the same time, Hinge – another dating app belonging to Match Group, makes its mark with a 50 percent increase in revenue compared to the previous year, translating to about CAD 124 million in income.
Interestingly, for the time being, 1.4 million users pay for Hinge's services. This is an impressive number for an app promoted with the slogan "Hinge, designed to be deleted." For those unfamiliar, Hinge is a platform aimed at helping find long-term relationships, not short-term flings like Tinder. After finding their other half, users are expected to uninstall the app.
Users seeking longer relationships?
Users are increasingly deciding to pay for the ability to find true love, rather than for short and casual acquaintances. Tinder offers optional in-app purchases, such as Super Likes and the "See Who Likes You" feature, but the revenue from these services has decreased by 18 percent. As Gary Swidler, Chief Financial Officer of Match Group, noted, this trend is becoming more visible. The changing preferences of users may herald a new era in the world of digital dating, where apps like Hinge gain an advantage by focusing on more lasting relationships. It appears that this is what young people from Generation Z are currently looking for.
