Do Singles Really Want High-Priced Dating Apps?
By Alexandre (admin), last updated on December 21, 2023
In the ever-evolving world of online dating, a new trend is emerging – ultra-premium subscriptions. Giants like Tinder, Raya and Hinge are rolling out expensive options for what they term “motivated daters.” But is this move resonating with the single community, or is it driving them away?
The Shift in Dater Preferences
Recent data indicates a growing reluctance among singles to invest heavily in dating apps. Bloomberg reports a significant turn towards more traditional, in-person dating experiences. Eventbrite’s statistics highlight a 63% surge in speed dating events, suggesting a resurgence in face-to-face interactions over virtual swiping.
The steep price tags attached to these new subscriptions – $500 for Tinder Select and $60 for Hinge – aren’t finding favor with a large segment of users. Despite this, Match Group reports increased revenue post the introduction of these services. Hinge’s record-breaking third-quarter downloads and 1.3 million paying users depict a complex picture. But are these numbers sustainable?
Consumer Sentiment and Economic Factors
A viral TikTok post by a Hinge user bluntly puts it: “Hinge does not care about finding your soulmate… They just care about taking your money.” This sentiment echoes widely among users frustrated with monetized features prioritizing profit over genuine connections.
The economic landscape, especially affecting young daters, adds another layer. The PYMTS Intelligence study, in collaboration with Mastercard, reveals Gen Z’s prioritization of necessities over dating app expenses. A significant 50% would drop their subscriptions to meet other financial obligations.
Dating apps have flourished in recent years, particularly during the pandemic. However, with declining revenues and economic pressures, they face a challenge in balancing monetization with user satisfaction. As Sticky.io CEO Brian Bogosian notes, “The bar continues to get higher… If they don’t get value… they’ll drop off.
About the author
Expert of the platforms of meetings (sites and applications) for more than 10 years. I share with you my objective opinion on these platforms following my tests. I can also advise you on the best dating service to choose in comments.