Tinder introduces virtual currency in the app to encourage real spending
Tinder is introducing a virtual currency which it hopes will encourage users to spend real money on the dating app.
Tinder, the most popular dating app in the United States, is rolling out a virtual currency that it hopes will encourage users to spend more time swiping, scrolling, and possibly spending real money. in line.
The new app addon will initially only be available in Australia, in-app “coins” can be acquired as long as users remain active on the platform or keep their profiles up to date.
Virtual Coins can also be purchased with regular cash and can then be used to improve a user’s profile by purchasing Tinder perks such as Super Likes or Boosts, which can help increase the chances of finding a good game.
Dating apps typically operate on what’s called a ‘freemium’ model, providing basic services at no cost and making money when users purchase a membership or pay as you go for additional features, like revealing. people who have shown mutual interest and apply. more granular filters to narrow the encounter pool.
Available later this month, the in-app currency is part of Tinder’s latest efforts to create a richer experience for people online, going beyond its traditional ‘swipe right’ method to find a romantic partner.
CFO Gary Swidler said on the company’s second quarter earnings call that “Tinder users’ willingness to pay has improved dramatically.”
The dynamics of dating have changed dramatically in the market now. Tinder is one of the pioneers of this growing trend and has achieved over 55 billion dates through its platform. It achieved a whopping $ 1.4 billion in revenue in 2020.
Tinder has not been affected by the recent global FB outage.
Bumble, Tinder’s main competitor.
Total revenue increased 38% to $ 186.2 million. Bumble App revenue increased 55% to $ 127.3 million. The Badoo app and other revenue grew 11% to $ 58.9 million. The total number of paid users increased 20% to 2.9 million.
Thank you for taking the time to read this article, be sure to come back to the Euro Weekly News website for all your up-to-date local and international news and remember, you can also follow us on Facebook and Instagram.