Match Group have described accelerated growth figures “driven by fantastic performance at Tinder and Match and OkCupid” in their Q3 2017 report.
The report outlines a 19% increase in revenue over the prior year quarter, with the group turning over $343m.
Tinder now boasts over 2.5m paid monthly subscribers, with over 475,000 signing up for premium services in Q3.
This record increase is partly attributed to the introduction of the new Likes You feature, which allows users to save time and reduce uncertainty by seeing who has already swiped right on their profile.
The report also links the rise in subscribers to Tinder’s marketing strategy, and to some “under the hood” performance improvements.
The Investor Presentation notes that more new Tinder features are incoming, the app considering the “post-match experience” and “broader social endeavours” as routes forward.
Tinder will also make greater use of artificial intelligence in the future, both to improve the discovery algorithm / consumer experience and to draw more insights from analytics.
Match and OkCupid are said to be stabilising in North American markets, with the latter receiving several positive mentions on late night shows and in online publications.
Some of Match Group’s smaller portfolio brands have not fared so well, with marketing funds being redirected away from niche services like BlackPeopleMeet and PetPeopleMeet amid low returns.
Further, the report was quiet on recent acquisition PlentyOfFish, the performance of which featured prominently in the Q2 2017 report (read GDI’s coverage).
Chairman and current CEO Greg Blatt said of the Q3 2017 Report: “Overall, company momentum is growing and we’re very well positioned for Mandy Ginsberg to assume the CEO role”.
Read it here.