Popular dating app Tinder has announced a new ultra-premium subscription tier called Tinder Select. This new rate is priced at $499 per month (467 euros) or $6,000 annually (about 5,670 euros) and is designed for a very specific segment of users. Specifically, less than 1% of those most active on the app and looking for a luxury dating experience.
Tinder's parent company, Match Group, has previously explored high-priced subscriptions with apps like The League, which offers a $1,000-a-week VIP plan. While the company doesn't expect Tinder Select to attract a large number of its users, it does expect it to have a significant impact on its revenue.
Tinder's strategy focuses on attracting users willing to pay for premium services. The offer seeks to capitalize on the commitment of Tinder's most recurring users, who accumulate a significant portion of the total time spent on the application. Despite the decline in subscriber numbers in recent quarters, Match Group has managed to increase average revenue per user, which has boosted the company's financial results.
The company has also sought to diversify its revenue with offerings such as weekly subscriptions and premium plans on other apps, such as Hinge. Although Match Group stock hasn't kept pace with the broader market, JPMorgan Chase analysts have raised their price target for the company's stock, citing growth potential in online dating spending.
Tinder Select offers exclusive features, from VIP searches and matches to private conversations.
It should be noted that in order to apply to Tinder SELECT, user profiles must meet certain requirements:
Mark Van Ryswyk, Tinder's product director, highlighted that they have been working on developing this offering to serve highly engaged users who value efficiency in searching for connections. Tinder Select will complement Tinder's three current subscription levels: Tinder Plus, Tinder Gold and Tinder Platinum.
