Tinder plans to launch a ‘high-end’ membership this fall

Tinder-owner Match Group announced in the shareholder letter announcing the second quarter results that Tinder is on track to launch its “high-end” membership experience in early fall. 

The company said it expects high end membership’s initial pricing to be “substantially higher than Tinder’s current offerings given the significant additional benefits that members will receive and its limited availability.”

The new membership option was first confirmed by Tinder CPO Mark Van Ryswyk, who dubbed the $500 monthly offer the “Tinder Vault” in an interview with Fast Company earlier this year.

Match Group is also planning a product refresh for Tinder to better serve Gen Z. The popular dating app aims to make it easy to create and consume content with features like prompts, quizzes, and conversation starters that enable deeper self-expression throughout the dating journey.

Tinder also plans to leverage AI capabilities to deliver the right content to the right people to help improve relevance and ultimately user results. “While the core Swipe® feature will remain central to the Tinder experience, the changes are meant to make the app more dynamic and engaging. We expect these features to begin rolling out in select markets later this month,” the company said. 

Tinder, which saw a continued decline in direct revenue on a quarterly basis as of Q4 2022, returned to growth as of Q2. Tinder direct revenue for the second quarter was $475 million, up 6% year-over-year. Its revenue per paying users increased 10% YoY to $15.12, driven by pricing optimizations and new weekly subscription packages. However, the popular dating app’s number of payers declined 4% year-over-year to 10.5 million, “primarily because of pricing optimizations in the U.S., which reduced conversation.”

Match Group’s revenue for the quarter was $830 million, an increase of 4% over the prior year quarter. The company’s direct revenue grew 5% YoY to $816 million.