New figures show Match Group shares have risen by 5.5% after it was announced that Hinge would be testing a higher membership fee.
MarketWatch reports that shares rose to $50.48 after the news broke that popular dating app Hinge would test the raising of paid membership from $35 a month, to between $50 and $60.
The price increase is believed to be a good option as it supposedly won’t deter more serious daters, while casual singles can still use the free version of the platform.
The report comes as dating platforms across the industry look to improve their monetisation processes, through ‘freemium’ models and advertising, for example.
MarketWatch shared in December 2022that the Match Group had the worst year in its history, with shares dropping by 69.1%.