Dating apps, once considered a revolutionary way to meet people, are now facing a significant decline in both users and revenue. Match Group, the leading global player in online dating with a portfolio of more than 40 apps, including Tinder and Bumble, has seen its market value drop drastically. Despite efforts to embrace artificial intelligence (AI) as the next big innovation in dating, the app industry is struggling to maintain its initial momentum.
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Tinder's Struggles: From Peak to Decline
When Tinder launched in 2012, it introduced a completely new way of meeting people, centered around its swipe feature. This innovation allowed users to quickly decide whether they were interested in someone with a simple swipe left or right. Tinder’s easy-to-use format made it an instant hit, with millions flocking to the app. By 2017, Tinder had more than 50 million monthly active users and was acquired by Match Group for a valuation of $3 billion.
However, the rapid growth of Tinder didn’t last. By 2020, Tinder's monthly active users had peaked at 73 million, but since then, the app has lost more than a third of its user base. According to Sensor Tower, Tinder’s global monthly active users dropped significantly, and revenue also took a hit. Despite increasing subscription prices, the app's revenue dropped from $508 million in Q3 2023 to $503 million in Q3 2024.
Some insiders blame Tinder’s troubles on a lack of long-term direction, as the company failed to maintain its initial viral momentum. Many users, particularly younger people, are looking for alternatives—either switching to niche apps or opting out of digital dating altogether.
The Shift Towards Niche Apps and In-Person Connections
One of the main reasons for the decline of dating apps like Tinder and Bumble is the changing preferences of users. As dating apps became more mainstream, many users, particularly younger women, have grown disillusioned with the experience. A Forbes survey found that 78% of users felt “emotionally, mentally or physically exhausted” by dating apps, leading to a significant decline in engagement.
While mainstream apps like Bumble, which allows women to make the first move, were once seen as an alternative to traditional apps, even they have not been immune to the trend. Bumble’s stock has plummeted nearly 90% in the past five years, reflecting a wider shift away from mainstream dating platforms. More users are turning to niche apps, seeking more personalized experiences, while others are opting for real-life interactions rather than digital connections.
The Role of AI in the Future of Dating
In a bid to turn things around, Match Group is placing its hopes on artificial intelligence to reinvent the dating experience. CEO Bernard Kim stated during the company’s investor day in December 2024 that AI would play a key role in transforming how people interact with dating apps. Match Group believes that AI will make the entire dating process more efficient and personalized, helping users find better matches faster.
However, AI alone may not be enough to reverse the decline in user engagement. The issues facing dating apps go beyond technology—they are also rooted in a shift in how people approach relationships and meet potential partners. Users are looking for more meaningful connections, something that swiping and quick chats cannot fulfill.
