Without a doubt, Tinder is the most popular, therefore most downloaded dating app in the world. Even with it being the leading app in the market, the company intends to make improvements to the app as well as add more options for users when it comes to high-end services.
Tinder's Upcoming Improvements
While the original Tinder is already successful enough on its own, the company plans to add a new membership that will offer more than its standard service. Match Group, the parent company of the dating app, announced it during the earnings call for the second quarter.
The new membership called "Tinder Vault" was first announced in early April, although the company was still not sure about it then. It's not until recently that the service is officially on the table. The monthly subscription for the product is said to be $500 a month.
The Match Group says that the Tinder Vault membership is mostly to create a better system for Gen Z users, as reported by Tech Crunch. It was brought on by the acquisition of The League, another dating app that cost its users as much as $1,000 for just a week.
Since the matches and experience are expected to be better, the company might raise the price a bit higher than the originally mentioned price. It will also be more exclusive since its availability will be limited. More will be revealed during Tinder's Q&A with investors.
For people who don't want to spend hundreds of dollars for a high-end membership, Tinder is also adding new features to its base app. For one, Tinder will soon have prompts, quizzes, and conversation starters. It will also use AI to provide the right kind of content for certain people.
The swipe feature that Tinder is known for will still be a part of the app. The changes are only meant to make the dating app more "dynamic and engaging," according to the company's shareholder letter. These mentioned features will be launched later this month.
It only makes sense that the parent company pours in more attention given that Tinder is its highest revenue stream. Out of the $830 million generated revenue of Match Group, around $475 million was from Tinder alone.
Other Dating Apps Are Also Improving
There is more than one dating app, and some of them are stepping up. In fact, apps like Bumble have made a point of creating a standalone app just for making friends. It used to be part of the original dating app in a separate tab.
According to Engadget, Bumble BFF makes up 15% of the app's total users. Those who use the app solely for finding friends won't have to download the dating app just for that function. Just like the dating app, users will set up profiles with the necessary information and photos.
Information can be added like whether the user drinks, what their political affiliation is, what's their current relationship status, and why they are looking for friends. Although unlike the dating app Bumble, the friend-finding app comes with a group chat feature.
