The companies behind popular dating apps like Tinder, Grindr, and Bumble are reportedly planning to offer premium tiers. Reports suggest that subscription costs of these plans may be as high as $500 per month. Reason: A number of these dating apps have reached saturation point in terms of the number of paid users, so are now turning to higher subscription costs to grow revenue.
According to a report in Bloomberg, Match is planning to launch a $500 subscription plan in the next few months. “Match is also exploring a $500-a-month version, due to launch in the fall. Bumble Inc, which already has a weekly offering, will start testing a premium tier later this year, alongside a cheaper option specifically aimed at Gen Z. Grindr Inc. said its new weekly option is also driving monetization, and it’s looking at cheaper options and a premium tier. The premium offerings are targeted at people who want a more curated, match-making style experience. “They feel that the relative value of $40 or $50 a month for their special someone feels exceptionally low,” Bumble CEO Whitney Wolfe Herd said on a recent earnings call,” said the report.
These companies have also tried the weekly subscription route. However, the challenge there is said to be that weekly subscriber income is less stable. As users may decide to try it for a week or two, and then cancel.
Recently, Match Group, the parent company of dating app Tinder, has revealed that a premium membership plan is coming soon. In a letter to its shareholders announcing quarterly results, the company said that it “is on track to launch its high-end membership experience in early fall.”
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