Match Group Q3 2023: losing users but making more money

Now that the third quarter is over, Match Group has released its figures to shareholders. Overall, all the figures are in the green, except for the Asian market, and the evergreen brands (Match, OurTime, etc.).

Below are the figures for the first 3 quarters of 2023 compared with the full year 2022.

Firstly, at this rate, Match Group should easily surpass its sales record. We’re expecting between $3.3 and $3.4 billion. We’d also like to highlight the profit, which climbed to $809 million in 3 quarters. Match Group expects to top the billion-dollar mark in 2023!

Tinder posted a handsome increase in revenues, mainly thanks to higher subscription prices. Hinge also performed well, achieving a full year’s sales in 3 quarters. The Group’s other brands, as well as the Asian market, are the ones that are losing ground. But this is no surprise, as it has been the case for several years.

Match Group, which had lost several hundred thousand paying users by 2022, regained 100,000 users in Q3, from 15.6 to 15.7 million. The gain in users was mainly in Europe and APAC, as Match Group continues to lose paying users in the USA, dropping from 7.7 million to 7.5 million.

This does not worry the company, which is aware that it is losing users on Tinder, but it is largely offset by the increase in revenues.

Tinder now has 10.4 million paying users, and Hinge 1.3 million. On the Asian market, the Azar brand is performing well, offsetting the decline in awareness of Hakuna and Pairs. Also of interest is Archer, the new gay dating app which is reportedly gaining in popularity thanks to an advertising campaign in the USA.

Despite these good figures, Match Group shares fell slightly. Indeed, forecast sales for the 4th quarter are below those estimated by analysts.

In our opinion, however, these are still good figures in the current inflationary context, or when compared with the German group Spark Networks, which is launching a restructuring plan.