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Match Group, the parent company of Tinder, Hinge, and OkCupid, announced a weaker-than-expected revenue forecast for the fourth quarter. According to Reuters, Match has been navigating slower growth for the past two years, facing challenges such as reduced demand, economic uncertainty, and a lack of new app features – and while Tinder has been getting regular updates, they so far haven’t managed to completely quell the slow drop in paying users that the platform has seen.
Despite these setbacks, Hinge remained a strong performer for Match Group. The app reported a 36% revenue increase in Q3, reaching $145.4 million, with a 21% rise in paying users. Tinder, however, has faced a slower recovery, with CEO Bernard Kim noting that visible improvements are expected as new features are introduced in the coming quarters.
One of the big factors in Hinge overtaking Tinder could be due to changes in dating habits. Tinder has always held a reputation as a hookup app, something that the platform has never tried to shy away from, while Hinge was marketed as more of a long-term relationship app. Given that more mindful and considerate dating approaches have gotten more mainstream, and that many users are burned out on the conventional swiping match system, it could simply be due to changing user mindsets.
Whatever the reason, Match Group clearly aren’t prepared to give up on Tinder. It’s not clear what the future holds for the platform, but considering that Match has continued to arrange partnerships and events throughout 2024 alongside new feature updates, they likely have some plans for Tinder’s rebound in the pipeline.
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