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Dating app usage surged during the pandemic as people looked for companionship at a difficult time. Consumers across the globe spent more than $3 billion on dating apps in 2020, a 15% increase from the previous year.
Consumer spending in a dating app indicates users derive value from added features, including matching beyond local users, seeing who liked a profile and reversing left swipes. In-app subscription is the most common monetisation method among dating apps, while other apps have in-app purchases as well.
Tinder secured the top position in terms of consumer spending worldwide, while Bumble and Pairs took the second and third spot. Dating apps witnessed a total of 560 million downloads over the year, according to app intelligence firm App Annie.
Tinder was the top ranking app in India and the U.S., having the highest annual overall consumer spend among non-gaming apps in 2020. It also ranked in the top 10 in both China and South Korea.
Dating apps usually see a spike in usage and spending ahead of Valentine’s Day every year, but they remained consistent in 2020 even after February 14. This year too, the trend is likely to continue with the popular dating apps, App Annie estimated.
User retention is generally an important metric to be considered while ascertaining an app’s success. However, it may not be accurate in case of dating apps as they are meant to be deleted when consumers find a match. This means that consumer spend is better measure than number of active users, the app intelligence firm stated.