Tinder Subscriptions Are Driving Growth for Parent Company Match Group. Can They Fend Off Facebook?

Dallas-based Match Group posted strong revenue growth of 14% over the previous year as Tinder subscriptions continue to rise and the dating app company focuses on growth opportunities in Asian markets."I'm confident that as we focus on scaling these businesses and improve the product experience, revenue is going to naturally follow," Match Group CEO Mandy Ginsberg said on a call with analysts Wednesday.The average subscribers across Match Group apps, which include Tinder, Hinge, Match.com and OKCupid among others, reached 8.6 million in the first quarter. Average Tinder subscribers made up 4.7 million of those, up more than 1 million from the same time last year, in what the company described as the third-best period of subscription growth in the app's history.The popular dating app had just passed 1 million subscribers at the start of 2016, and last year Tinder accounted for nearly 50 percent of the company's growth.Though it wouldn't get into details because of concerns about competitors, Match Group revealed that the growth in Tinder subscribers can be attributed to algorithm refinements and merchandising efforts. The company said it expects to make "gradual tweaks" to Tinder this year to further drive revenue growth.Tinder's basic app, where users swipe right to indicate interest in a potential date, is free but subscribers pay extra for additional features.The company's total quarterly revenue was up 14% year over year, growing to $465 million. Its profit totaled $123 million for the three-month period.  Continue reading...