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2020 has challenged the entire world in ways we never expected (despite every dooms day movie we’ve seen throughout the course of our lives).
One of the biggest challenges has been finding new ways to connect while staying socially distanced. So, we’re not surprised to hear there’s been a huge boost in dating app sign-ups during the COVID-19 pandemic.
Match Group Inc. is the parent company to Tinder, Hinge, OKCupid, French online dating service Meetic, Canadian online dating service Plenty of Fish, and more. In a letter to shareholders, Match reported an $84 million Q3 USD sales increase, High Snobiety states, adding “Since growing direct revenue from almost zero in 2014 to nearly $1.4 billion USD this year, Tinder continues to maintain its grip on the dating app market. Match reports that increases in ARPU and subscribers helped to recover from the dip the company experienced earlier this year due to the pandemic.”
According to the document, Match is expecting $640 million to $650 million in revenue for Q4. Check out the full breakdown here.
As we’re all aware, health officials have advised the general public to wash our hands often, wear masks, and maintain a 6-foot distance from other people, in an effort to slow the spread of coronavirus. The directive doesn’t leave much room for meeting new people, so dating apps, FaceTime, and all other ways of connecting virtually have been a blessing during this time.
What’s been your go-to during the pandemic? Chime in.
