Hinge, another popular dating app from Match Group, recently confirmed testing a costlier premium subscription plan. The new plan could cost users around $50 to $60 per month.

While the current premium Hinge membership plan costs around $35 per month, the upcoming premium plans will be more expensive. The platform gave the first sneak peek of the new premium plan in November during Match’s Third Quarter earning in 2022.

Match Group regards this new subscription plan as an equivalent of the “Platinum” subscription on Tinder, which happens to be one of the most expensive premium membership plans. The company banks on this feature to significantly enhance the revenue per payer.

Let’s explore the new Hinge subscription and whether it is worth it or not.

Key Takeaways on the New Hinge Subscription

  • Increased Price Point: The new premium subscription plan for Hinge is being tested at a cost of about $50 to $60 per month, marking a significant increase from the current premium membership priced at around $35 per month.
  • Target Audience: Aimed at “highly motivated daters,” this plan seeks to attract users willing to pay a premium for enhanced features and better exposure on the platform.
  • Revenue Goals: Match Group anticipates this new subscription level to substantially boost revenue per payer. With Tinder currently leading revenue generation within the group, Hinge is viewed as a strong contender to contribute significantly to future earnings, especially following its recent expansion into markets outside the United States.
  • Investment and Expansion: The introduction of the pricier subscription option comes alongside Match Group’s commitment to increase investment in Hinge, particularly in marketing and advertising efforts, both in the US and internationally. This strategic move is expected to help Hinge continue its growth trajectory and achieve an additional revenue goal of at least $100 million for the year.
  • Global Rollout: Match Group plans to roll out the new subscription model globally after the new year 2023. This initiative is part of a broader effort to capitalize on the substantial user base of Hinge and explore new monetization opportunities.
  • Performance and Expectations: Despite Hinge falling short of its 2022 revenue target by approximately $15 million, due in part to volatile foreign exchange rates, Match Group remains optimistic about the app’s potential. The upcoming February earnings call will provide further insights into Hinge’s performance and the impact of the new subscription model on its growth and revenue.

Match Hopes for Increased Revenues With the New Hinge Subscription Plan

A spokesperson for Match Group has confirmed the rumors of the new Hinge premium plan. As per the sources, the new Hinge premium plan is intended for so-called “highly motivated daters” that are enthusiastic enough to pay extra bucks for enhanced exposure on the platform.

With this new subscription plan, Hinge promises to offer subscribers with better recommendations as well.

We like subscription monetization opportunities with Hinge — with the Hinge user base. As with any big changes to tiers, we’ll continue to optimize the offering throughout 2023.Bernard Kim, Match CEO

At present, Tinder brings the highest revenue for the Match Group. Nonetheless, given Hinge’s performance in the past quarter, Match strongly believes that the app could drive revenues for the company in the future.

In contrast to Tinder’s YOLO philosophy, Hinge is more inclined to offer dating solutions to those interested in relations and not hook-ups. The app is currently the third most popular dating app in the US in terms of downloads.

Moreover, with launches in Germany and other European countries in recent months, Hinge seems to find traction in markets outside the US.

It all points out that the Match Group is counting on Hinge to offset the disinterest that’s been seen in the popularity of some of its ventures, including the acquisition of Hyperconnect, which couldn’t work out as planned for the company.

Match Will Enhance Investment in Hinge

The sources confirmed that the company is willing to invest more, particularly in marketing and advertising, in the fourth quarter for Hinge in the US and overseas.

With the expansion of the new premium Hinge membership plan, the Match Group eyes bagging an additional revenue of at least $100 million for the year.

As per sources, Match Group also confirmed testing a $500 monthly plan for Tinder. However, they didn’t provide any details on the same.

Match has shared a few more details about the subscription plan and confirmed that the same should be rolled out globally anytime after the new year 2023. The company also seems that, with the substantial user base, the new subscription monetization opportunity will favor them.

Nonetheless, Hinge was reported to be lacking behind its 2022 target by some $15 million. The company says the volatile foreign exchange scene, especially with the Pound, is the reason behind this shortfall.

They also said that they would share Hinge’s revenue for the fourth quarter with the investors during the February earning call.

Let’s see if the new Hinge subscription model will help the company continue it’s growth as planned.