While consumers are reigning in spending on streaming and shopping in light of the cost of living crisis, they’re not quite as eager to pull back on their dating habits. According to Tinder, paid subscriptions on the dating app actually rose 7% over the summer until September.
Still eager to find love
Match Group which owns popular dating apps such as Hinge and OKCupid reported sales of $810 million during the last quarter. However, the economic crisis was slowing in-app purchases in apps such as Plenty of Fish which caters for people with lower incomes.
Tinder, on the other hand, saw a rise in sales. According to Statista, in-app revenues were up across APAC, EMEA and NALA, reaching higher levels than even before the pandemic. Revenues were highest during July and have been dipping slightly ever since.
In-app sales of Tinder by region
Source: Statista
More people are ready to swipe
Tinder also reported a rise in user numbers between July and September. Earlier this year, Sensor Tower reported that Tinder’s monthly active users make up the lion’s share (73%) of users among the top dating apps.
Share of global monthly active users of top dating apps
Source: Sensor Tower
However, both Hinge and Bumble reported higher growth in monthly usage during January 2022 compared to 2019.
And while subscriptions on Tinder increased, users are reportedly shelling out less for one-off features such as “Super Likes” to boost their profiles.
Match reported it had a total of 16.5 million paying customers during the last quarter up from 16.3 million in the previous quarter of 2022 with the majority of its growth coming from outside of the US and Europe.
Key takeaways
- Paid subscriptions on Tinder rose 7% between July and September 2022
- Owner Match Group reported overall sales of $810 million across its dating app portfolio
- Total number of paying customers jumps to 16.5 million up from 16.3 million
