Online Personals Watch: News on the Online Dating Industry and Business

Spark Networks Reports Q1 2023 Results and Plans to Return to Profitability

PR NEWSWIRE - Chelsea Grayson, CEO of Spark Networks, said: "Our two highest priorities remain returning to revenue growth and improving profitability." The Company believes it can achieve significant efficiencies by both reducing costs and growing revenue through the following changes:

• Exit Germany: Spark Networks aims to shut down its Berlin branch by Jan 2024. This includes cutting around 200 full-time jobs.
• Improve Product & User Experience: Spark Networks plans to outsource its IT services to a third-party
• Hire a Chief Revenue Officer to join its senior leadership team.
• Substantially Improve Marketing Yield and Process

First Quarter 2023 Financial Results Q1 revenue was $41.3M, compared to $49.9M in the Q1 '22. Net loss was $4.4M, compared to $7.5M in Q1 '22.

See full article at Spark Networks website

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Spark Networks Reports Q4 and Full Year 2022 Results

PR NEWSWIRE - CEO Chelsea Grayson has also announced her acceptance of the board's request to serve as Spark's permanent CEO. The company plans to focus on improving profitability through cost efficiency and increased Adjusted EBITDA margins. Grayson outlined several initiatives to achieve this, including solidifying a diversified core of meaningful brands, reallocating capital to more profitable marketing channels, and using the company's net operating losses to minimize taxable income. Q4 revenue was $41.6M, compared to $52M in Q4 2021. Net loss for Q4 was $17.2M, while full-year 2022 revenue was $187.8M, compared to $217M in 2021.

See full article at PR Newswire

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Dating & Relationship Report by Appinio and Spark Networks

APPINIO - Jorge Bueso, Spark Networks' Senior Consumer Research and Insights Manager, collaborated with Appinio on their Hype Trackers in the US, UK, FR and ES, gaining insight into the intersection between relationships, Valentine's Day and how online dating services participate in both. People tend to seek meaningful relationships based on shared values within a like-minded community, and more than ever, online dating services help facilitate these relationships. However, the industry also faces challenges, such as red flags and ghosting, particularly for women. The report also identifies growing discussion topics such as gender identity and polyamory, which the online dating industry is expected to address for modern daters.

See full article at Appinio

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Spark Networks Conference Call Introducing CEO Chelsea Grayson on Jan 19

PR NEWSWIRE - Spark Networks SE (NASDAQ: LOV) will host a call introduce Interim CEO Chelsea A. Grayson on Thu, Jan 19 at 4:30pm EST. Ms. Grayson is Spark Networks' first woman CEO. In the past she was CEO of True Religion and American Apparel. On Jan 19th, dial 1-888-349-0106 (US) or +1 412-902-0131 (Int'l) and ask to join the SPARK call or go here. 

See full article at Spark Networks website

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Spark Networks Names Board Vice Chair Chelsea A. Grayson as Interim CEO

PR NEWSWIRE - Eric Eichmann has stepped down to spend more time with his family and explore future opportunities. Ms. Grayson is the former CEO of True Religion, a designer jeans and clothing company, as well as clothing company American Apparel. She has a multi-decade career as a board member for a range of technology, consumer-facing, and wellness companies, a law firm partner, and an in-house general counsel.

See full article at Spark Networks website

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Spark Networks' Q3 Results With Continued Subscriber Growth for Zoosk and Focus on Profitability

PR NEWSWIRE - Q3 '22 revenue was $48.2M, compared to $53.3M in Q3 '21. Net loss was $10.7M, including an $11.8M non-cash impairment charge to the Zoosk trade name, compared to a net loss of $2.7M in Q3 '21. Zoosk initial subscriber registration grew 5.1% YOY. Zoosk's average paying subscribers grew 3.4% YOY. The app has deployed new pricing, leading to increased conversion rates and a higher average price for Zoosk subscriptions YOY.

See full article at PR Newswire

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Spark Networks Reports Q2 Results, Continued Subscriber Growth for Zoosk

PR NEWSWIRE - Q2 Revenue was $48M, compared to $55.3M in Q2 2021. On a constant currency basis, revenue would have been $50.3M. Net loss was $8.8M, compared to $49M in Q2 2021. Total paid subscribers grew from 831K to 838K. Zoosk end of period subscribers grew 4% YOY. Zoosk new subscribers grew 17% YOY. The company expects to deliver low double-digit Adjusted EBITDA margins for the full year.

See full article at PR Newswire

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Spark Networks to Explore Strategic Alternatives

PR NEWSWIRE - Spark Networks has initiated an exploration of strategic alternatives. As part of this process, the company plans to consider a wide range of options, including a potential sale, merger, or other strategic transaction, and continuing to operate as a public, independent company. "Following approaches by several parties interested in a potential transaction, we believe now is an opportune time to explore a range of potential strategic alternatives," said Eric Eichmann, the company's CEO.

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Improvements in User Experience Ignite Significant Growth in Female Engagement on Zoosk

PR NEWSWIRE - Spark Networks announced that female engagement is growing on Zoosk, Spark's largest dating app. Female engagement continues to be a leading indicator of a healthier and more productive dating platform. An updated matching algorithm and a revamped first-time user experience have driven double-digit growth in female paid subscribers, female subscriber conversions, and positive response rates to matches. Additionally, there has been a 10% increase in daily active users who are female and a sizable uptick in female first-day retention.

See full article at PR Newswire

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Spark Networks Q1 Results

PR NEWSWIRE - Revenue was $52.4M (-7%YOY), compared to $56.4M in Q1 2021. On a constant currency basis, revenue would have been $54.6M, down 3% YOY. Net Loss was $5.3M, compared to $6.5M in Q1 2021. Adjusted EBITDA was $3.5M, compared to $5.1M in Q1 2021. Zoosk's new subscribers grew 15% YOY, following the ramp-up in marketing spend. Spark expects full-year 2022 revenue to grow mid to high single-digits year over year.

See full article at PR Newswire

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Spark Networks Announces the Appointment of Ken Chin as Chief Product Officer

CNW - Chin is an accomplished leader with over 20 years' experience in product leadership for online marketplaces (eBay and SeekAsia) and e-commerce (FarFetch). As a group product manager at eBay, he was critical in driving a merger between eBay's EU Retail Promotions Platform with the global platform, and crucial in driving corporate innovation at BCG Digital Ventures.

See full article at Newswire

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Spark Networks Reports Q4 and Full Year 2021 Financial Results

PR NEWSWIRE -

Q4 2021 Financial Results

• Revenue was $52M, compared to $58.1M in the 2020 Q4.
• Net Loss was $9.9M, compared to $45.1M in the 2020 Q4.

Full Year 2021 Financial Results

• Revenue was $216.9M, compared to $233M in 2020.
• Net Loss was $68.2M, compared to $46.6M in 2020.

Spark properties generated ~4M daily page views and a total free and paid user base of ~40M people in 2021. Spark averaged 875K paid subscribers during 2021. The company intends to invest $110M in customer acquisition in 2022.

See full article at Spark Networks website

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Which Dating Apps Got the Most Press Coverage Last Year?

OPW - Last year, we mentioned 281 internet dating industry brands in 1,066 posts. Although Match Group and its brands are clearly dominating this list, Bumble takes first place this time, even though only by one post. Here is the full list of companies with the most press coverage for last year.

1. Bumble (131 posts)
2. Tinder (130 posts)
3. Match Group (96 posts)
4. OkCupid (43 posts)
5. Hinge (42 posts)
6. Match.com (35 posts - shared)
7. Grindr (35 posts - shared)
8. The Meet Group (31 posts)
9. Blued (23 posts)
10. Spark Networks (22 posts)

See the full post at Courtland Brooks Blog

Spark Networks to Transfer Listing From NYSE to Nasdaq

SEEKING ALPHA - Spark Networks will be changing its stock exchange listing from the NYSE American to the Nasdaq Capital Market. The company's American Depositary Shares (ADSs) will debut on Nasdaq on Feb 15, 2022. Its ticker symbol will remain unchanged. David Clark, CFO of Spark Networks, commented: "Nasdaq's focus on growth-oriented technology companies aligns well with our Company and strategy."

by Preeti Singh
See full article at Seeking Alpha

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Spark Networks ADRs Higher After Osmium Partners Increase Stake

DOW JONES NEWSWIRE - The American depositary receipts of online dating service Spark Networks are trading 18.9% higher at $3.18, after Osmium Partners said it bought 1.6M shares of the company's stock (at $2.51 each), raising its stake to ~5M shares.

by Stephen Nakrosis
See full article at Marketwatch

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