Dating apps aren't new at all, but during lockdowns in 2020 they became the way to socialize to the point revenue was rising faster than ever before. It took a bit, but once everyone realized that we're stuck at home, wallets opened up.
For context, Tinder, the category's leader, saw new revenue rise from the App Store rise from $17M in January of 2018 to more than $100M in October of 2021.
Yes. That much!
While the overall trend for the top trio, which includes Tinder, Bumble, and Hinge, the highest-earning dating apps in the US, is positive, 2023 was mostly negative for Bumble and Hinge.
Tinder, Bumble, and Hinge started 2023 on a high note, collectively earning more than $130M of net revenue from the App Store in January, according to our App Intelligence. Tinder was the leader earning the majority with Hinge last on this short list.
Revenue for all three shrunk in February down to $116M of net revenue from the App Store, according to our App Intelligence, and all three decreased.
While Tinder managed to get back up a bit, Bumble and Hinge continued to drop in March and April.
That seems to have changed in May as all three saw increases in revenue. And significant ones, too.
Tinder's net revenue from the App Store grew a whopping 23% in May. Bumble followed with a healthy 19% increase, and the smaller in absolute terms, Hinge, grew the most -- 25% in May.
Together, the trio brought in $140M of net revenue from the App Store in May.
Dating apps are very lucrative and after several years of the bigs dominating we're now seeing the emergence of many niche apps that aren't going after everyone like these three. This is a good sign for all of those apps.
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