During yesterday’s Q2 conference call with investors, Match Group confirmed that it will be launching the rumoured Tinder Platinum subscription model towards the end of the year.
The updated plan is still in the very early stages of testing, with the dating company not revealing all the features that are going to be included. However, it did confirm that subscribers would be able to use ‘Super Likes’ to send messages before matching and receive all the other benefits of a Gold membership.
Murmurings about Tinder Platinum first surfaced last month when a screenshot of the sign-up menu was posted on Reddit.
The image indicated that the cost could be £5.97 a month for a full year subscription, or £14.32 when being billed monthly.
TechCrunch reported that Match Group CEO Shar Dubey explained on the call: “Unlike Gold, which was by far the most successful and unique revenue feature we’ve ever launched, [and] which drove meaningful ARPU increases along with almost doubling of subscriber conversion, [Platinum] is not at all expected to be anywhere close to Gold,”
“There’s a fair bit of testing still to be done. And our goal is that, if all goes well, we should be able to globally roll this out by the end of the year, later in Q4.”
Match Group revealed that total annual revenue increased by 12% year-on-year to just over $555 million.
Its position in the stock market also grew by approximately 12% following the release of the financial results. This means the company now has a market cap of $31.26 billion, the highest peak in its history.
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