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article imageMatch Group says Tinder will make over $800 million this year

By Lisa Cumming     Aug 9, 2018 in Business
Apparently love does cost, and U.S. Internet company Match Group reports that dating service app Tinder is projected to double its revenue for this year, compared to what it made last year.
Match Group CFO Gary Swidler said that Tinder will generate more than $800 million this year during a conference call about recently released second quarter results. This would make the dating service aimed at young people responsible for just under half of Match Group's total projected revenue for the year.
According to Yahoo Finance, "nearly all of that revenue is coming from Tinder's paid subscription service."
Match Group runs brands including Tinder, Match, PlentyOfFish, OkCupid, OurTime, Meetic, and Pairs.
On August 7, the group released their Q2'18 results, showing no sign of their services experiencing a lull in customer activity. Tinder's average subscribers reached 3.8 million – an increase of 299,000 from last quarter and an increase of 1.7 million year-over-year. Tracking active-user ranking data based on Facebook login tokens, Thinknum published a data set and found that Tinder was the most popular app, based on the number of log ins, in July.
In the first half of the year, up to June 30, Match Group showed $828,563 in revenue, up from $608,336 at the same time last year. Post releasing the Q2 results, Match Group's stock price (NASDAQ: MTCH) increased from just under $39 per share on August 7 to $45.6 per share on August 8.
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