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People paying more for dating ...People paying more for dating apps despite the cost-of-living crisis
The Silicon Review
03 November, 2022
Author:
The Silicon Review Team
Though people are spending less on everything from food shopping to video streaming as the cost of living rises, it is seen that many are not yet ready to cut back on the dating.
According to Tinder’s owner, the number of paid subscriptions to the app rose by 7% in July-September, globally. The parent company, Match Group, which also owns OkCupid and Hinge, said that their overall sales rose to $810m in the quarter.
However, Match Group also warned that the global economic slowdown was starting to take its toll. According to the company, although subscriptions for Tinder were up, the users were spending less on one-off features such as "Boosts" and "Super Likes" that make a profile more visible.
Match group has 16.5 million paying customers across its brands worldwide in the quarter. It was up from16.3 million in the three months to July. It was seen that most of the growth came from outside its core market, which is UK and US and here the number of paying customers fell slightly.
