As Gen Z rethinks the point of online dating, Tinder is trying to stay in the game by expanding its in-person events to dozens of new cities by September, the company told analysts on its second-quarter earnings call on Tuesday.
News
Match Group (Tinder’s owner) reported its flagship dating app saw revenue decline in the quarter, which sent the company’s stock down by over 10% in after-hours trading. Nevertheless, Match still appeared to be bullish on its Tinder turnaround efforts.
CEO Spencer Rascoff spoke of narrowing Tinder’s declines in monthly active users, which were down 7% in Q2, slightly better than last quarter’s 8% decline. He also said he believed Tinder’s daily active user growth would once again lean positive “any day now.” The app has not reported positive user growth in more than three years.
Still, Match, which also runs Hinge, OkCupid, Match, PlentyofFish and other dating apps, is planning for a future where online dating itself may become passé.
Details
Numerous reports have suggested that younger Gen Z users are increasingly turning to real-world experiences that get them off their phones and out of the house as they seek to connect with others.
Now, Match’s own internal data is backing this up.
“Our internal research shows that nearly half of singles aged 18 to 29 want to share in-person experiences with people who could become closer connections,” Rascoff said. “Yet, for a generation that grew up online, making that transition into real life can still feel hard. That is why we are doubling down on more social, lower-pressure ways for users to connect in real life,” he told analysts on the call.
Analysis
In March, Tinder introduced in-person events, starting in Los Angeles, that are featured in a dedicated Events tab in Tinder’s mobile app.
This tab features curated local events that are held at speakeasies, bowling alleys, raves, and pottery classes, among others, and Rascoff said 71% of Tinder’s active users in LA, aged 18 to 24, had engaged with the new sections.
That suggested “especially strong adoption” among Gen Z users, the company said. Since its March debut, the company has featured over 60 events.
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