MATCH GROUP - In the Q1, Match Group revenue grew 9% YOY to $860M. Tinder direct revenue increased 9% YOY to $481M. However Tinder payers declined 9% YOY to just under 10M, due to the continuing effects of last year's price optimizations and MAU declines. Tinder payers were down ~255K on a sequential basis. Subscription revenue grew 17% YOY while à la carte revenue, which comprises ~20% of Tinder's direct Revenue, fell 13% YOY primarily due to MAU declines and lower purchase volumes per user. Hinge direct revenue grew 50% YOY to $124M, driven by a 31% increase in payers to 1.4M. Hinge continued to resonate with users in English-speaking and Western European markets, with total downloads across all markets growing 20% YOY in Q1. Match Group Asia businesses' revenue declined 6% YOY to $71M. Direct revenue growth at Azar was more than offset by continued declines at Pairs and Hakuna. Q1 Operating Income was $185M, down 7% YOY.
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