The OPW/iDate Weekly News Summary.
- Online Dating and Dating Industry Conference in Odessa on May 21-22, 2020
- Stay informed. https://www.onlinepersonalswatch.com/
:~ TOP ONLINE PERSONALS WATCH NEWS ~:
ProSieben Shares Rally After CEO Conze's Departure
REUTERS - Mar 27 - Shares in ProSiebenSat.1 Media rallied by 9% on Friday after the departure of CEO Max Conze. ProSieben announced that Conze was leaving with immediate effect and CFO Rainer Beaujean would assume his responsibilities. Conze had sought to accelerate a pivot to digital commerce and advertising to offset a relentless decline in ProSieben's core commercial TV franchise, but while this preserved top-line growth it squeezed profitability and pushed up debt. The recent announcement of the $500M takeover of The Meet Group incurred the disapproval of Italian broadcaster Mediaset, which took advantage of a precipitous decline in ProSieben's share price to up its stake to 20%. Mediaset wanted ProSieben to change course and concentrate on its core media business. Analysts at Citi said it was possible that Mediaset could partner with Czech investor Daniel Kretinsky, who owns a 10% stake in ProSieben, to make a takeover bid.
App Annie Announces Top Publishers 2020
PR NEWSWIRE - Mar 24 - In its Top Publisher Award, App Annie recognizes the most innovative and successful publishers around the world. The Top 52 Publishers, as measured by app store revenue estimates in the last calendar year, are from 12 countries. Again this year, publishers from Asia dominate the list. The United States had the most top publishers of any country, with 17. "Dating apps have had strong growth on mobile for the past several years," said Justine Sacco, Chief Communications Officer for the Match Group (IAC). "To have Tinder as the top ranked app of all non-gaming apps globally, proves how central mobile experiences are to our customers and to our success."
Losses in Online Dating Scams up 40% Since 2018
NEWSDAY - Mar 24 - The FTC recently released data that consumers reported $201M lost in online dating scams in 2019, up ~40% since 2018. One group that is particularly vulnerable to online dating scams is the "over 60" demographic, due to digital naivete, seniors are often lonely, more trusting and have time on their hands, an ideal set up for falling victim.
MyLife - Safer Dating
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AdultFriendFinder Will Stream Weddings so People Don't Have to Postpone During Pandemic
NEWSWEEK - Mar 27 - Weddings, along with concerts, parades and other events, are postponed because of coronavirus. AdultFriendFinder is offering to stream weddings for free on its website and gives engaged couples the opportunity to exchange nuptials in front of their family, friends and loved ones while still social distancing. CEO Jon Buckheit said "There's been a big increase in video chat and video streaming, and that's something that we've always offered on the site. So we have the technology to do it, and we thought that we should offer [to stream weddings] at no charge to people who want to use our site for that purpose at this time" in private, password-protected channels, or with the world in a public channel.
Bumble Is Giving Away £5,000 Grants to 150 Small Businesses in Need
STANDARD.CO.UK - Mar 27 - As the UK goes into lockdown, with only 'essential' services allowed to remain open, small businesses are taking a hard hit. Bumble is asking its users to nominate local small businesses in need. Bumble has decided to give 150 grants of up to £5K to small businesses. Grants will be awarded across the world. Bumble says it will 'prioritise businesses led by women and non-binary founders'.
Match Sets up Advice Hotline for Dating in Age of Social Distancing
THE MOTLEY FOOL - Mar 25 - Match Group is launching The Dating While Distancing Hotline, a free service where daters can chat live with an expert for free about concerns they have regarding the current dating scene. Callers can get advice on how to navigate quarantines, setting up successful video dates, and more. Match's advice hotline number is 888-302-6224 and is open Monday through Friday, 8 a.m. to 8 p.m. CST.
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During Coronavirus Lockdown, Tinder Surpasses Bumble, OkCupid and Hinge Downloads
FOX BUSINESS - Mar 25 - While many businesses have suffered dramatically under the coronavirus, its been a great week for Tinder, which saw an increase in first-time installations of the app in the U.S., according to Sensor Tower. First-time installs of Tinder were up 13% last week in the U.S. compared to the week of March 2, but were down 5% worldwide for the same comparison period. Bumble's downloads fell 10% in the U.S. and 11% worldwide, Hinge downloads fell 7% in the U.S. and 12% worldwide, and OkCupid fell 16% in U.S. and down 20% worldwide.
Swiping Right on Match Now
SEEKING ALPHA - Mar 24 - People are forced to date online now, especially since they're cooped up in their houses, and this is going to benefit Match in the short term. Over the long run, Match has many growth catalysts like international markets or its other apps that should allow it to continue expanding revenue and margins. Match Group has always been too expensive over the past few months, trading at close to a 50x PE despite just modest growth. Well, now the company has fallen substantially from highs and is trading at just over 30x PE, making it much more attractive to buy. Data shows that Tinder downloads have increased by 13% in the US over the past week, but most other dating apps saw a decline in downloads worldwide. Perhaps people default to downloading Tinder as it is the most popular dating app.
The OPW/iDate Dating Business Insider is first and the largest weekly news summary in the dating industry. Since 2004.
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