- Tinder’s parent company Match Group posted its 2019 full-year financials on Tuesday.
- Tinder alone accounted for over half of the company’s 2019 revenue, pulling in $1.2 billion.
- Year-on-year its subscriber numbers grew 36%, but Q4 2019 saw a slowing in subscriber growth compared to Q3.
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Match Group, the dating-app umbrella company that owns Tinder, posted its full-year financials for 2019 on Tuesday.
The company revealed Tinder pulled in $1.2 billion in revenue over 2019, a 43% increase from 2018. Match owns several other high-profile dating platforms including Hinge and OkCupid, but overall revenue for the year was $2.1 billion meaning it gets more than half its revenue from Tinder.
While Tinder is a free app it pulls in revenue from offering users premium subscriptions Tinder Plus and Tinder Gold which come without ads and offer extra features such as unlimited likes, extra “super likes” and monthly “boosts” which push the user into their area’s top ten profiles, increasing their exposure.
Match also noted that Tinder saw a 36% increase in subscriber numbers compared to Q4 of 2018, topping off the year with 5.9 million subscribers. However, subscriber growth slowed from 437,000 to roughly 200,000 between Q3 and Q4 2019, and shares in the company dropped 10% after the bell on Tuesday according to Reuters.
The news of Tinder’s soaring revenue comes as Match CEO Mindy Ginsberg is preparing to leave the company. Ginsberg announced last month she would be stepping down as CEO, and the company confirmed that on March 1 she will be replaced by Match Group president Shar Dubey.
Match is holding a conference call to discuss the financials on Wednesday at 8:30 a.m. Eastern Time.