Dating Apps Put a Hefty Price Tag on Finding Love

livemint.com:

Dating apps are testing the limits of how much users will pay in their quest for love. Match Group, which owns a fleet of dating apps, recently added a plan to Hinge with a monthly rate around $50, up from its previous high of $35, and is examining user interest in a plan for Tinder nearing $500 a month. Bumble is considering a tier above its current $60-a-month plan, while gay dating app Grindr plans to widen its subscriptions with more premium offerings.

The premium push comes as consumers are paying more for a range of services, from streaming to shopping platforms, as companies try to squeeze more revenue out of each user and recoup rising costs. The challenge for these companies will be to convince customers of the value of higher-priced dating options when consumers are feeling financial pressure from nearly all fronts. Many dating apps are betting that users will pay up for the chance to never have to use their apps again.

Paying more can eliminate ads from Hulu shows or delivery fees from DoorDash orders. With dating apps, premium memberships offer some features, such as unlimited swipes used to signal interest to other users, that can increase the odds of landing a date. Finding a long-term partner, however, isn’t guaranteed.

Lizz Evalen decided to pay $50 for a three-month subscription to Tinder. The 31-year-old freelance copywriter got a flood of interest, some dates, but ultimately no long-term match. She decided not to extend her subscription.