Dating apps have seen both downloads and revenue grow drastically this year.
Downloads grew a lot in 2020 as lockdowns took over many countries and it was no longer possible to make friends IRL.
But much of that growth was in 2020 and downloads just kept going after. In fact, downloads stayed flat for most of 2020 and 2021. Revenue on the other hand continued to grow. And then grew some more.
In 2022 both downloads and revenue have already grown a lot, and this time it isn't lockdowns to blame thank.
I combined the downloads and revenue for the three most popular dating apps for this analysis. Why? Because they're the top-grossing apps right now and have been for a very long time, and the next app in the list isn't even close in terms of ran (or revenue).
Together, quarterly net revenue of Tinder, Bumble, and Hinge grew 382% since 2018. In more absolute terms, monthly revenue rose from $92M in Q1 of 2018 to $443M in Q3 of 2022, according to our estimates. And this is net revenue, meaning after Apple and Google take their fee.
Growth was fairly constant with 16 of the 19 quarters since the beginning of 2018 having positive revenue growth.
Downloads weren't as exciting, but when compared to 2018 also grew a hefty 88%! In absolute terms, that means 17M downloads from the App Store and Google Play in Q1 of 2018 to 32M in Q3 of 2022.
Note - Although Hinge isn't very strong outside the US, Tinder and Bumble are, so we're looking at global downloads and revenue and not just the US.
But as this field becomes hot again so is the competition. Tinder, Bumble, and Hinge might be the most popular, but the selection is growing. Apps like Fruitz (acquired by Bumble), The Right Stuff, and Fizz are some of the latest entrants trying to get a share of this market by having some unique value.
They join more than 15,000 apps that mention the word "dating" in their name or description. I fully expect more competitors to rise and more consolidation to occur as the bigs attempt to retain their position via M&As.
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