Tinder is set to bring in more than $800m in revenue this year, a feat that Recode reports will make the dating app responsible for almost half of Match Group’s projected $1.75B annual revenue.
According to CFO Gary Swidler, Tinder generates almost all of its revenue from its premium subscription service, Tinder Gold. Gold gives users more features for $14.99, which, according to Swidler, is a “big reason that sales are up.”
In Q2, Tinder added almost 300k new subscribers, totaling almost 3.8m. According to Recode, the dating app is growing almost as fast as Snap’s business was last year.
The only difference is Tinder is projected to bring in at least $320m in profit this year, compared to the $353m Snap lost in Q2 alone.