Mandy Ginsberg, CEO of Match Group, has given her helicopter take on the state of the online dating industry and how the market leader can progress in a Q2 conference call.
The session accompanied tremendously positive quarterly earnings, which saw MTCH stock climb over 20%. The company now has a market cap in excess of $25 billion for the first time.
She begins by outlining data from a widely-circulated Stanford study showing that the percentage of couples meeting online has risen rapidly in recent years.
Around 50% of new relationships now begin online in the US – something Ginsberg suggests will replicate around the world. Relationship quality remained unchanged during this transition, despite couples now meeting as complete strangers rather than acquaintances.
In many countries with conservative cultures, young people are looking to take control of their partner search and technology can empower them to do so.
The CEO highlights the expansion of Pairs in Japan, now the market leader there less than five years after being acquired.
She suggests she is looking to repeat this success with the acquisition of Harmonica, a new property which will enable Match to make moves in the Muslim world.
Pairs will launch a new digital product titled ‘Pairs Engage’, for the most serious singles, and Harmonica will likely also maintain a matrimonial focus.
Turning to Tinder, Ginsberg lauded the impact of a focus on monetisation. Looking forward, she said: “Optimizations at Tinder will be a never ending process just like other brands that have been around for more than 20 years. I’m confident we’ll continue to improve the Tinder platform to drive continued growth.”
She went on to highlight positives at OkCupid, Hinge and Match.com, before passing over to CFO Barry Swidler.
Find the audiocast here.