Swiping right on Tinder’s new service would potentially cost you US$6,000 annually. But for love, it could be well worth it
Looks like swiping right could get much more exclusive—and expensive.
On Monday, Tinder’s chief product officer Mark Van Ryswyk announced the online dating giant is developing a US$500-per-month subscription for those intent on finding future partners. The model, which is still in its early stages, has been tentatively named Tinder Vault, Fast Company reports, with no word on when it would officially launch. The concept comes amid news that Match Group, parent company to popular dating apps such as Tinder, Match and Hinge, posted its first quarterly decline in the fourth quarter of 2022—in part due to Tinder’s “weaker-than-expected product execution,” according to Match Group CEO Bernard Kim.
As of now, the annual fee for Tinder Vault would run you a whopping US$6,000. Van Ryswyk declined to share exactly what features you can expect to find in the new subscription model, but he says the brand is “really looking at a whole range of additional value-add services to Tinder overall” in a conversation with Fast Company. The chief product officer explains the company is sorting out how a US$500 monthly fee could benefit the app as a whole while being worth the lofty price tag and not disrupting the experiences of free users. Vault would be an upgrade of Tinder’s current tech—not an all-new segment.
During a call in February, Kim—who took over Match Group last May and then became Tinder’s interim CEO in August—said the brand’s fourth-quarter decline has turned around and Tinder has a strong new focus on “product momentum.” Part of that impetus could very well include the new Vault service.
Van Ryswyk says lessons learned from Match Group’s acquisition of the League, an exclusive dating app that hopefuls cough up US$1,000 a week on to meet potential partners, in July 2022 has helped Tinder discover that’s an audience willing to pay more for higher-quality experiences.
While Tinder Vault may be more appeasing to some swipers, only time can tell how price-conscious individuals would perceive the upgrade—which may never roll out. In the meantime, you can pay to upgrade your Tinder profile to include features such as limitless swipes, prioritised likes, and profile boosts that reach broader audiences. The app is also reportedly discussing a new weekly subscription model for Tinder Plus members who might not want to pay for a month or year’s worth of access.
This story was first published on Robb Report USA