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Match Group (MTCH) Tackles Dating App Burnout With New Feature
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Match Group’s (MTCH - Free Report) Match, the dating app for individuals seeking serious relationships, has introduced a feature called 72 Hours. This feature aims to facilitate quicker in-person meetings for members who are ready to go on dates.
By emphasizing the importance of three days, Match aims to foster meaningful conversations and minimize the tiresome process of endless messaging and browsing through profiles.
Match's recent Singles in America study revealed that a significant portion of young singles experience a lack of excitement and enthusiasm toward dating. Additionally, the study found that 64% of online daters feel burnt out in their dating lives. In response to this issue, Match has introduced the 72 Hours feature.
This feature aims to address browsing burnout by showcasing nearby individuals who are ready to meet before the weekend, thus increasing the chances of meaningful conversations and reducing the frustration caused by matches that don't progress further.
The 72 Hours feature will be initially launched in New York this week to all Match members and gradually extended nationwide. Users can download the Match app from both the App Store and Google Play to access and enjoy the benefits of the new feature.
According to a survey conducted by dating app QuackQuack, participants were asked to provide tips on dealing and overcoming dating fatigue. The survey involved 11,000 daters aged between 18 and 35 from tier 1 and 2 cities. Per the result of this survey, 47% of users believe dating fatigue can affect anyone at any given time and the app itself has limited capacity to alleviate the issue apart from raising awareness. Additionally, six out of 10 users suggest that daters must take proactive measures to manage and control dating fatigue.
Online dating often prioritizes surface-level qualities like physical appearance or initial attraction, resulting in superficial connections and shallow conversations. The repeated cycle of investing time and effort into building connections, only to have them abruptly end or lead nowhere, contributes to dating fatigue.
The influence of romanticized ideals portrayed in media and the pressure to find a perfect partner can lead to unrealistic expectations in the dating process.
The company wants to use 72 Hours to combat this problem in the dating industry. This is likely to boost the number of users as well as the top line of the company.
Zacks Rank & Key Picks
Currently, Match Group carries a Zacks Rank #3 (Hold).
Shares of Match Group have gained 3.6% year to date compared with the Zacks Consumer Discretionary sector’s rise of 11.9% in the same time frame.
The Zacks Consensus Estimate for MTCH’s second-quarter 2023 earnings is pegged at a profit of 46 cents per share, indicating a year-over-year decrease of 48.31%. The Zacks Consensus Estimate for revenues is pegged at $810.78 million, indicating year-over-year growth of 2.05%.
Shares of Cinemark have gained 112.3% year to date. The Zacks Consensus Estimate for Cinemark’s second-quarter 2023 revenues is pegged at $868.74 million, indicating a year-over-year rise of 16.75%. The consensus mark for earnings is pegged at 52 cents per share, which has remained unchanged over the past 30 days.
Shares of Crocs have gained 5.9% year to date. The Zacks Consensus Estimate for Crocs’ second-quarter 2023 revenues is pegged at $1.05 billion, indicating year-over-year growth of 8.35%. The consensus mark for earnings is pegged at $2.95 per share, which has decreased by 1 cent over the past 30 days.
Shares of DraftKings have gained 129.5% year to date. The Zacks Consensus Estimate for DraftKings’s second-quarter 2023 revenues is pegged at $714.58 million, indicating year-over-year growth of 53.28%. The consensus mark is pegged at a loss of 29 cents per share.
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Match Group (MTCH) Tackles Dating App Burnout With New Feature
Match Group’s (MTCH - Free Report) Match, the dating app for individuals seeking serious relationships, has introduced a feature called 72 Hours. This feature aims to facilitate quicker in-person meetings for members who are ready to go on dates.
By emphasizing the importance of three days, Match aims to foster meaningful conversations and minimize the tiresome process of endless messaging and browsing through profiles.
Match's recent Singles in America study revealed that a significant portion of young singles experience a lack of excitement and enthusiasm toward dating. Additionally, the study found that 64% of online daters feel burnt out in their dating lives. In response to this issue, Match has introduced the 72 Hours feature.
This feature aims to address browsing burnout by showcasing nearby individuals who are ready to meet before the weekend, thus increasing the chances of meaningful conversations and reducing the frustration caused by matches that don't progress further.
The 72 Hours feature will be initially launched in New York this week to all Match members and gradually extended nationwide. Users can download the Match app from both the App Store and Google Play to access and enjoy the benefits of the new feature.
Match Group Inc. Price and Consensus
Match Group Inc. price-consensus-chart | Match Group Inc. Quote
Reasons Behind Dating Fatigue
According to a survey conducted by dating app QuackQuack, participants were asked to provide tips on dealing and overcoming dating fatigue. The survey involved 11,000 daters aged between 18 and 35 from tier 1 and 2 cities. Per the result of this survey, 47% of users believe dating fatigue can affect anyone at any given time and the app itself has limited capacity to alleviate the issue apart from raising awareness. Additionally, six out of 10 users suggest that daters must take proactive measures to manage and control dating fatigue.
Online dating often prioritizes surface-level qualities like physical appearance or initial attraction, resulting in superficial connections and shallow conversations. The repeated cycle of investing time and effort into building connections, only to have them abruptly end or lead nowhere, contributes to dating fatigue.
The influence of romanticized ideals portrayed in media and the pressure to find a perfect partner can lead to unrealistic expectations in the dating process.
The company wants to use 72 Hours to combat this problem in the dating industry. This is likely to boost the number of users as well as the top line of the company.
Zacks Rank & Key Picks
Currently, Match Group carries a Zacks Rank #3 (Hold).
Shares of Match Group have gained 3.6% year to date compared with the Zacks Consumer Discretionary sector’s rise of 11.9% in the same time frame.
The Zacks Consensus Estimate for MTCH’s second-quarter 2023 earnings is pegged at a profit of 46 cents per share, indicating a year-over-year decrease of 48.31%. The Zacks Consensus Estimate for revenues is pegged at $810.78 million, indicating year-over-year growth of 2.05%.
Some better-ranked stocks from the broader sector, which investors can consider, are Cinemark (CNK - Free Report) , Crocs (CROX - Free Report) and DraftKings (DKNG - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Cinemark have gained 112.3% year to date. The Zacks Consensus Estimate for Cinemark’s second-quarter 2023 revenues is pegged at $868.74 million, indicating a year-over-year rise of 16.75%. The consensus mark for earnings is pegged at 52 cents per share, which has remained unchanged over the past 30 days.
Shares of Crocs have gained 5.9% year to date. The Zacks Consensus Estimate for Crocs’ second-quarter 2023 revenues is pegged at $1.05 billion, indicating year-over-year growth of 8.35%. The consensus mark for earnings is pegged at $2.95 per share, which has decreased by 1 cent over the past 30 days.
Shares of DraftKings have gained 129.5% year to date. The Zacks Consensus Estimate for DraftKings’s second-quarter 2023 revenues is pegged at $714.58 million, indicating year-over-year growth of 53.28%. The consensus mark is pegged at a loss of 29 cents per share.