MATCH GROUP - Total Revenue grew 20% YOY to $799M. Operating income was $208M, an increase of 10% YOY. Payers increased 13% to 16.3M, up from 14.4M in the prior year quarter. Tinder Direct Revenue grew 18% YOY, driven by 17% payers growth to 10.7M. All Other Brands collectively grew revenue by 22% YOY driven by 14% RPP growth and 7% payers growth to 5.6M.
Key points from Match Group's letter to shareholders:
- Match Group CEO Shar Dubey is stepping down. She will remain as a director and advisor to the company, and Bernard Kim will resume his role as CEO.
- Match Group has published its 2nd annual Impact Report to share its progress on social, environmental, and governance initiatives.
- In Japan, Tinder launched a co-marketing campaign with Netflix for the dating reality TV show Love is Blind: Japan.
- Tinder Coins, its in-app virtual currency, is on track to launch globally this summer.
- Hinge is on track to launch in its first non-English speaking market, Germany, in Q2.
- Hinge is on pace to more than 10x revenue from 2019 to 2022.
- Match, Meetic, Pairs, and POF all successfully leverage tech features from Hyperconnect into their products.
