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.
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