Dating Apps Used Only by Men... "Difficult to Attract Female Users"

Match Group and Bumble Market Cap Plummets by Tens of Trillions of Won

Analysis shows that the number of female users is rapidly declining on popular dating applications (apps) such as Tinder and Bumble. Dating platform operators are competing to attract female users.

On the 27th (local time), the UK Financial Times (FT) reported that dating platform companies are preparing various convenience updates targeting female users. Additional features and tools exclusively for female users are expected to be implemented.

Match Group, which owns over 40 dating apps including Tinder, is adding a feature that allows users to control the content appearing on the platform, and Bumble is also reportedly exploring features to enhance the experience for female users.

Dating app Tinder
[Image source=Tinder homepage]

The reason women avoid dating apps is found to be due to facing unwanted physical threats while using the service. This has led to an increasingly pronounced 'gender imbalance' among dating app users. A vicious cycle continues where only male users flock to the apps while female users leave.

Market research firm Mintel told FT, "Encouraging female participation in dating apps is the biggest challenge (platform companies face)," adding, "Gender imbalance makes it harder for men to find matches and often results in women being attacked, which can lead to a more unpleasant experience." According to Mintel's survey, 47% of men aged 18-34 in the UK use dating apps, but only 25% of women in the same age group do.

The decline in female users is also negatively impacting the corporate value of dating apps. The market capitalization of Match Group and Bumble peaked in 2021 and has since plummeted by nearly 80% over three years. Over the past three years, Match Group has lost $40 billion (approximately 54 trillion KRW) in market cap, and Bumble has lost $18 billion (approximately 24 trillion KRW).

Bernard Kim, CEO of Match Group, recently emphasized in an earnings report, "Improving the user experience for Generation Z, especially women, is our top priority," adding, "Literally, they are the most important demographic for dating apps."