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.
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.
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.
