Reopening: Bad for Dating Apps? According to LikeFolio research, Consumers’ […]
Are we Swiping Right on Match Group (MTCH)?
Are we Swiping Right on Match Group (MTCH)?
Love it or hate it, online dating is here to stay. Check out this study showcasing how couples met...and notice the vertical trajectory for online dating (~40% met online). LikeFolio data suggests consumers aren't just meeting online, they're increasingly using apps.
Mentions of downloading or using a dating app have increased +29% YoY. If you're a company like Match Group (parent company of Tinder and Hinge, among others), this is music to your ears. MTCH Growth is being amplified by apps outside of Tinder, specifically by Hinge -- and our data highlights this well:
Hinge Global ARPU increased by +100% YoY on its last report, and our data shows continued adoption. Purchase Intent Mentions of signing up, downloading, and using Hinge increased +174% vs. 2019. Tinder, the largest global dating app, is growing but at a slower clip, and so is Plenty of Fish (popular in Canada). Traditional "old school" match sites aren't gaining steam like the gamified apps. Match Happiness is lower vs. Bumble: 57% positive vs. 62% positive, mostly due to the perceived hookup nature of Tinder vs. female-first mission of Bumble) Bumble was founded by previous Tinder co-founder, requires women to make the first move, and now features more than romantic matches including friend-finders and mentor matches. Note these apps aren't exclusive. Many users have all three big apps: Tinder, Hinge and Bumble.
We expect online dating trends to serve as major tailwinds long-term for all major players in this space.