Match-owned dating app Hinge confirmed it is testing a more expensive $50 to $60 a month premium plan — a significant increase from its current price of $35 a month. The company had previously teased the new offering during Match’s Q3 2022 earnings call in November, calling it Hinge’s equivalent of Tinder’s top-tier “Platinum” subscription, by comparison, and touting its potential to drive revenue per payer “significantly higher.” to increase.
Bloomberg was the first to report the news of the premium offering, which a Match Group spokesperson confirmed.
Hinge will target its expensive subscription at “highly motivated daters,” it said, who are willing to pay for more features to increase their visibility on the app, as well as features that allow them to receive better recommendations. For example, subscribers’ “likes” will be seen more quickly than others, the report said.
While Match’s flagship app Tinder leads the company in terms of revenue, Match called out Hinge as a “bright spot” in the past quarter. The dating app aimed more at those interested in relationships has become the third most popular app by downloads in the US. In recent months, the app has been localized outside the US, having launched in Germany and other European markets where it is gaining popularity. It’s also one of the key apps that Match has counted on to help offset the declines it’s seen in some of its established brands, as well as the 2021 acquisition of Hyperconnect, which didn’t pay off as expected.
The company said it would invest further in marketing Hinge in the US and abroad in the fourth quarter to continue growing the brand. Based on the success of this expansion and the new premium tier, Match predicts Hinge will bring in at least $100 million in incremental revenue this year, the company told investors on its November earnings call.
Match shared some details about the subscription itself during the call, noting only that it would roll out globally after the new year.
“We love opportunities to monetize subscriptions with Hinge – with the Hinge user base. As with all major tier changes, we will continue to optimize offerings in 2023,” Match CEO Bernard Kim said on the call.
However, the company acknowledged that the hinge was about $15 million behind its 2022 target, primarily due to currency headwinds, and specifically the impact they had on the pound. It said it would update investors on Hinge’s earnings for this year during its Q4 earnings call in February.
Bloomberg’s report also noted that Tinder was testing a $500 monthly subscription, which Match also confirmed, but declined to provide details.