Tinder Subscribers Increased Globally: The owner of Tinder says that from July to September, the number of paid subscriptions to the dating app went up by 7% around the world. Match Group, which owns Hinge and OkCupid, said that total sales went up to $810 million (₱47 billion) in the last quarter.
But it warned that the slowdown in the world economy was starting to hurt.
In particular, it said that the weaker economy was hurting brands like Plenty of Fish, which cater to lower-income people, and that people were starting to make fewer in-app purchases on its platforms.
Tinder, one of the most popular dating apps in the world, had more sales and users in the three months leading up to September.
The company, which offers a free version of its service, said it had been helped by the return of a feature that lets users swipe right and left from their desktops.
Match has about 100 million active users, and Tinder has the vast majority of them.
But Tinder users were spending less on one-time features like “Super Likes” and “Boosts” that make your profile more visible. This was true even though Tinder subscriptions were up.
Match also thinks Tinder’s sales won’t grow in the last three months of the year.
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Match said it had 16.5 million paying customers across all of its global brands in the third quarter. The company says that hundreds of millions of people have used its apps.
That was up from 16.3 million in the three months leading up to July, but most of the growth came from places other than its main markets in the US and Europe, where sales went down slightly.
Match said it was still looking for a new CEO for the app. It also noted that it was focusing on making Tinder a better place for women to use after abusive interactions on the service brought the app into question.
Fears of a global economic slowdown have hurt several tech giants, including Match.
Apple and Amazon said the last week of October, their sales were down because people were spending less.
Both said that the rising cost of living made it harder for people to buy things.
Also, shares of Meta, which owns Facebook, fell more than 20% at the end of October 2022 after the tech giant reported terrible news.
Shares of Match, which have been doing poorly this year, went up 16% on Tuesday after the company’s results.
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