Dallas-based Match Group is crediting Tinder’s new premium membership plan, Tinder Gold, with boosting its bottom line.
Match Group, which owns Tinder, OKCupid, and Match.com, said the Tinder Gold subscriptions increased sales 19 percent from last year, CNN Money reported.
Tinder said it added 476,000 paying members in the last quarter and that 2.5 million customers now pay for Tinder.
Tinder’s quarter was “fantastic” Match CEO Greg Blatt said.
“Tinder Gold plays on people’s impatience.”
Tinder launched Tinder Gold in August for a $9.99 monthly subscription that allows users to see who they’ve matched with as soon as they open the app.
Tinder already had Tinder Plus, a $4.99-a-month plan that let users increase the number of people who viewed their profiles, use unlimited likes, and undo swipes, CNN Money said.
With Tinder Gold, it’s about time because users don’t have to swipe through other profiles to find matches.
“Tinder Gold plays on people’s impatience,” BTIG analyst Brandon Ross told CNN Money.
While Match Group competes in a crowded dating app arena, Ross said Tinder Gold shows it knows how to make money.
“They’re proving that if you have a deeply engaged base you will eventually get them to spend money,” Ross said.
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