At a time when dating itself, like almost everything else, has become more expensive due to inflation, it may be surprising to learn that some of the most popular dating apps have seen an increase in paying users.
Match Group, which owns popular apps Tinder and Hinge, reported strong third-quarter earnings, thanks in part to a 2 percent increase in multi-brand paying users. Tinder alone saw a 7% increase in paying users.
But while more paying users are great news for app investors, the question is whether paying for a dating app is a smart investment for singles.
Paying for a dating app won’t make your perfect match magically appear. Many other factors, such as your personality and relationship goals, and even your location, can influence your search for a partner.
“A lot of less-than-ideal dating app experiences have to do with people not being engaged,” Seattle-based dating and relationship expert Cora Boyd told CNBC Make It. Boyd, who works with clients and creates educational content to help people find love, has seen clients who pay for dating apps report better results, or at least more enjoyable experiences.
“The motivation for customers or those who pay for the app is that they are serious, they want to find connections where they invest in each other, they are looking for a more committed relationship,” Boyd said. “People who are just messing around, not serious, or not going to follow through are not going to pay for the platform.”
Those who use dating apps agree with this. Laura, who used her pseudonym to protect her privacy, said she’s glad she signed up for a paid eHarmony subscription a few years ago. In total, she paid about $115 for six months.
“At first I thought this idea was stupid, but my parents convinced me it was worth it, and after the first week of using the app, I felt the same way,” Laura told CNBC Make It.
Laura says that on eHarmony, users essentially have to pay to talk to potential partners, so she’s found it’s more common to find other people who are looking for a long-term relationship.
“In general, I am very grateful to dating apps because they have changed the way I think about dating,” she said.
Paying over $100 for a dating app was tough, especially when Laura had no income due to the pandemic. However, she says it paid off: “I met my boyfriend on eHarmony and we’ve been together for two years. I definitely think it was worth it.”
The only drawback: despite the fact that she found her other half, payment must be made before the end of the subscription. An annoying quirk, but also a testament to how quickly people can find relationships if they invest more in their search.
From what she’s seen, using dating apps effectively may require some financial investment, but part of the payoff is time savings, as people who pay for dating services tend to be better at dating, Boyd said.
“There’s less noise, fewer people, and I think that creates a space where people don’t feel overwhelmed,” Boyd said.
It’s worth noting that each service has its own fee structure, and many of them allow users to pay for access or additional features not available to free users.
For example, after paying for a Hinge subscription, users can use it with unlimited likes and can filter various characteristics such as height and political affiliation. The app also allows users to make one-time purchases, such as the ability to “enhance” their profile by making it visible to more users within an hour.
In a sense, the financial investment in the application helps users to evaluate potential partners more carefully. “I see them doing more intentional dates and getting more excited about those dates because they seem to have more promise and potential,” Boyd said.
Of course, anyone can choose a more goal-oriented mindset as they seek out dates and find successful relationships without dating apps at all. It’s up to you to decide what works best for your budget and your relationship goals.
But when you’re looking for love, it seems like investing a little money can be a powerful motivator.
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Post time: Dec-17-2022