Match Group has published its Q1 2019 financial results, highlighting all-round positive growth.
Total revenue increased by 14% year-on-year and now sits at $465 million. Adjusted EBITDA is recorded as being $155 million, an improvement of 13% since the previous year quarter.
Much of this growth can be attributed to Match Group brands, especially Tinder, continuing to maintain and bring in new subscribers.
Tinder added 384,000 paying customers since three months previous, taking the total number on the dating app to 4.73 million. There are now 8.6 million subscribers across all Match Group platforms, a year-on-year growth of 16%.
At the time of writing, Match Group’s share price has increased by almost 8% in after-hours trading to $65.19. The company saw negligible impacts last week when the announcement was made that Facebook Dating had been launched in 14 new countries.
The accompanying investor presentation began by highlighting Match Group’s desire to achieve more penetration in the Asian market. The first step of the plan is continuing to localise Tinder for each country and introducing a market-wide Lite version (serving customers with poor network access).
Further, it is looking to bring more brands to the region and is also on the lookout for more acquisition opportunities.
Match.com has received a redesign, refocusing on relationship-minded singles in their 30s and 40s. The update has led to higher engagement, including a 20% increase in likes, and feedback on the initial rollout has apparently been “promising”.
IAC, the parent company of Match Group, is due to release its own financial results after the end of trading today.
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