Tinder is forecasted to double its revenue in 2018, to reach over $800 million. This shows that young people are happy to pay for online dating services.
Gary Swidler, CEO of the Match Group, is a happy man. Tinder will generate over $800 million in revenue this year. That’s double what the app made last year and almost half of the group’s overall projected revenue for 2018.
As it turns out, young people don’t mind paying for online dating. On the contrary, the younger generation seems happy to pay for services that fit their needs and lifestyle. Almost all of Tinder’s revenue is generated from subscriptions. Tinder Gold, a premium subscription service that rolled out in 2017 – and gives users more features – costs $14.99 a month.
Tinder is also seeing continuous growth. According to the latest figures, the app has added around 300,000 new subscribers in the last quarter alone. There are now 3.8 million subscribers using the service.
All good news. Except that Facebook will also be entering the world of online dating soon. And that could be a cause for concern for Tinder.
You might also like
More from Other Platforms
Clubhouse Now Has A Head Of Sports Partnership
Clubhouse announced that Sean Brown will join its team as its first Head of Sports Partnerships, the latest addition to …
Instagram Tests Letting Users Choose Whether To Show Or Hide Like Counts
Instagram like counts, should we show them or hide them? Instagram cannot decide, so now they will ask us to …
Snapchat Teams Up With LACMA To Place AR Monuments Across LA
Snapchat is collaborating with the Los Angeles County Museum of Art to bring five augmented reality monuments to Los Angeles.
Google Meet Introduces Data Saver Mode
Google Meet has a new feature that will help you save battery power by restricting data and decreasing the power …
Pinterest Launches Its First-Ever Creator Fund
At an event last week, Pinterest announced a new $500,000 Creator Fund, a program to support Creators from underrepresented communities.
Google Shuts Down Its Mobile Shopping Apps
Google is pulling the plug on its mobile shopping apps for both iOS and Android and redirecting users to its …
Tiktok Introduces Interactive Music Effects
TikTok has started rolling out six new interactive music effects for creators, starting with Music Visualizer.
Twitter Looked Into Possible Clubhouse Acquisition
Twitter held acquisition talks with Clubhouse with a deal value of around $4 billion, according to reports from Bloomberg.
TikTok Introduces A New Video Editor For Native Video Ads
The new TikTok Video Editor makes it easy for advertisers to easily and effortlessly create native TikTok video ads.
