COVID-19 has closed a lot of traditional meeting grounds for singles, but the online equivalent has been open, and apparently thriving.
“Despite the pandemic, our user trends, like engagement and willingness to pay for our products, is up, proving what we’ve always known: Our products satisfy a very critical human need, and those needs aren’t going anywhere,” Chief Executive Shar Dubey said in an email. Match showed more confidence in its third-quarter guidance Tuesday, predicting revenue of $600 million or more. Analysts on average were projecting about $563 million in third-quarter sales, according to FactSet.
“Our one-to-many live-streaming video products, especially at Plenty of Fish, are seeing healthy adoption and associated revenue generation,” executives said in the letter. “We have also introduced one-to-one video chat capabilities on most of our major platforms, including Face-to-Face at Tinder.”Services such as video dating are important for Match’s efforts to add paying subscribers to Tinder and other properties, a big reason for its increased revenue recently.
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