Match Group, Inc. (MTCH): Business Model Canvas [Dec-2025 Updated]

You are looking at the dating giant's playbook, and honestly, the story for Match Group, Inc. as of late 2025 is not about explosive growth; it's about a sharp pivot to operational discipline and AI to defend margins. Despite a tough environment where they manage $\mathbf{14.5}$ million total payers, the focus is clearly on extracting more value, evidenced by a $\mathbf{\$20.58}$ Revenue per Payer last quarter, all while banking $\mathbf{\$716}$ million in Free Cash Flow year-to-date. If you want to see exactly how they are balancing a $\mathbf{\$50}$ million H2 reinvestment in product with workforce cuts to hit that $\mathbf{\$3.375}$ billion revenue target, dive into the full Business Model Canvas below; it is defintely worth the read.

Match Group, Inc. (MTCH) - Canvas Business Model: Key Partnerships

You're looking at the backbone of Match Group, Inc.'s operational stability and growth engine-the Key Partnerships. These aren't just names on a slide; they are critical dependencies that directly impact your cost structure and user reach, so let's look at the hard numbers as of late 2025.

Platform Providers (Apple, Google) for App Distribution and Payments

The relationship with Apple and Google remains a massive financial factor. As of the third quarter of 2025, Match Group, Inc. was spending approximately $700 million annually on fees paid to these two platform providers. To put that cost in context, app store fees represented about 20% of Match Group, Inc.'s cost of revenues as of July 2025. The company is actively mitigating this by pushing alternative payment methods. For instance, a shift of just 500 basis points (5%) of subscription revenue to off-app payments could boost EBITDA by 2.8%. The high-end commission rate you see from Apple is cited as ranging from 15% to 30%. Tinder's direct revenue in Q3 2025 was $491 million, meaning a significant portion of that flowed through these partners.

Safety and Verification Technology Vendors

Trust and safety partnerships are now deeply integrated with AI. As of early 2025, an AI initiative designed to curb abusive messages resulted in a 20% reconsideration rate when users were prompted to review their language. This shows the direct impact of vendor-supported technology on user behavior. Furthermore, Tinder expanded its Face Check™ facial verification feature across the U.S. in October 2025, a key step in confirming user authenticity. Historically, Match Group, Inc. invested in the safety platform Noonlight back in January 2020 to integrate emergency assistance and photo verification tools.

Strategic Marketing and Affiliate Partners for User Acquisition

User acquisition costs are a constant drain, but indirect revenue shows partnership strength. In Q3 2025, indirect revenue-which includes strength from third-party advertising-hit $18 million, marking an 8% year-over-year increase. For the full year 2025, the expectation for year-over-year Indirect Revenue growth was in the mid-teens. Still, Selling and marketing costs were high, representing 19% of total revenue in Q3 2025, up 1 point year-over-year. This spend included an expected 17% year-over-year increase in marketing spend for Q3 2025 due to brand campaigns at Tinder and Hinge.

Payment Processing Partners for Alternative Payment Rollout

This is where you see immediate financial upside from strategic execution. Match Group, Inc. planned a full rollout of alternative payments across major apps, including Tinder and Hinge in the U.S., in Q4 2025. The expected savings from this rollout are material: approximately $14 million in Q4 2025 and roughly $90 million in 2026. These savings, combined with prior cost-reduction initiatives that yielded $100 million in annualized savings, are funding reinvestment.

Brand and Event Organizers for Value-Added Offerings

While specific 2025 financial metrics for general brand partnerships are less visible in the latest filings, the focus on integrated technology partnerships is clear. For example, the expansion of ID-verifying technology involved a partnership with Visa. The company continues to use its portfolio scale to test new concepts, such as the AI-driven Interactive Matching feature, Chemistry, on Tinder, which uses user-permissioned data.

Here's a quick look at the key financial impacts related to these partnerships:

The operational focus is definitely on capturing those alternative payment savings. If onboarding takes 14+ days, churn risk rises, so the Q4 2025 rollout is defintely critical for realizing that $14 million in near-term benefit.

• AI-driven safety features resulted in a 20% message reconsideration rate.
• Tinder expanded Face Check™ U.S. rollout in October 2025.
• Alternative payments testing was active at Tinder and expected at Hinge by late Q3 2025.
• Total Company Q3 2025 Revenue was $914 million.
• Total Company Q3 2025 Adjusted EBITDA was $301 million (or $364 million excluding settlement/restructuring costs).

Finance: draft the 13-week cash view incorporating the Q4 2025 alternative payment savings projection by Friday.

Match Group, Inc. (MTCH) - Canvas Business Model: Key Activities

You're looking at the core engine of Match Group, Inc. as they push through their product-led transformation. The key activities here are where the capital and focus are being deployed in late 2025, based on their Q3 2025 performance and stated strategy.

Developing and deploying proprietary AI/ML matching algorithms

Match Group, Inc. is making significant investments in artificial intelligence to differentiate its offerings, especially for younger users. The company plans to reinvest approximately $50 million in the second half of 2025 into strategic initiatives, with a portion dedicated to AI-powered features. They are actively testing around 30 different AI tools across the organization to boost user experience and safety. This includes implementing an "AI-powered core discovery algorithm" and interactive matching features, particularly at Tinder, aiming to transform it into a low-pressure experience for Gen Z.

Global marketing and brand-building for 20+ dating apps

Marketing spend is a key lever, especially as the company works to revitalize brands like Tinder while scaling others. For Q3 2025, the company expected a 17% year-over-year increase in marketing spend, driven by brand campaigns at Tinder and Hinge, alongside savings reinvestments. To put that in perspective, selling and marketing costs in Q2 2025 represented 17% of Total Revenue, though this was a 4% year-over-year decrease in dollar terms due to lower spend at Tinder and the Evergreen & Emerging segment. The portfolio includes brands like Tinder, Hinge, OkCupid, Azar, The League, Archer, and HER.

Centralized platform engineering and data security management

A major operational activity involves centralizing functions to reduce duplication and gain scale. During the initial "Reset" phase of the turnaround, Match Group, Inc. centralized key functions, including select technology & data services, customer care, and content moderation. A significant financial activity tied to platform management is the push for in-app payments. The company spends about $700 million annually on IP fees to Apple and Google, and enabling direct in-app transactions could potentially save them over $65 million in the coming year.

Executing the multi-phase product turnaround strategy

The current work is part of a three-phase turnaround: Reset, Revitalize, and Resurgence. The 'Reset' phase is reported as complete, focusing on culture, speed, and accountability. The 'Revitalization' phase is showing mixed results across the portfolio as of Q3 2025. Hinge is the clear success, with Direct Revenue up 27% year-over-year, driven by a 17% increase in payers. Conversely, Tinder's Direct Revenue declined 3% year-over-year, with payers falling 7%.

Managing a global portfolio with 14.5 million total payers

Managing the global user base is central, even as payer counts fluctuate. As of the third quarter of 2025, Match Group, Inc. reported 14.5 million total payers. This figure represented a 5% year-over-year decline, which was offset by a 7% year-over-year increase in Revenue Per Payer (RPP), pushing Total Revenue up 2% year-over-year to $914 million in Q3 2025. The company generated operating cash flow of $758 million and Free Cash Flow of $716 million year-to-date through September 30, 2025.

Here's a quick look at some key financial and operational metrics supporting these activities as of late 2025:

The focus on AI testing and the three-phase turnaround is definitely driving resource allocation right now. Finance: draft 13-week cash view by Friday.

Match Group, Inc. (MTCH) - Canvas Business Model: Key Resources

You're looking at the core assets Match Group, Inc. relies on to run its business as of late 2025. These aren't just apps; they are established platforms with deep user integration.

Diverse portfolio of leading dating apps (Tinder, Hinge, Match.com)

The breadth of the portfolio is a major resource, covering different user needs and demographics. This diversification helps insulate the company when one brand faces headwinds. The key assets defintely include:

• Tinder
• Hinge
• Match.com
• Plenty of Fish
• OkCupid
• Azar
• The League
• Archer

Proprietary user data and machine learning models

The sheer volume of interaction data across these platforms feeds sophisticated machine learning models, which is a significant barrier to entry for competitors. This data powers personalization and safety features. Here's a quick look at the scale as of the latest reported quarter:

Global user network effect and high brand awareness

The network effect-where the value of the service increases as more people use it-is critical, especially for Tinder and Hinge. High brand awareness means lower customer acquisition costs relative to new entrants. The payer base, while showing some recent softness, still represents a massive, engaged global audience.

Centralized technology platform and engineering talent

Match Group leverages a centralized technology backbone to deploy innovations quickly across its portfolio. This includes significant investment in AI capabilities, such as the AI-powered Core Discovery Algorithm that debuted earlier in 2025 to boost matches and engagement. This engineering talent is tasked with maintaining platform stability while rolling out new features like World ID integration for user authenticity.

$716 million in Free Cash Flow year-to-date through Q3 2025

The financial engine supporting these resources is robust. For the nine months ending September 30, 2025, Match Group generated $716 million in Free Cash Flow. This strong cash generation allows for capital deployment, including share repurchases and dividends, reinforcing the financial stability of the entire operation.

Match Group, Inc. (MTCH) - Canvas Business Model: Value Propositions

You're looking at the core reasons why users choose Match Group, Inc. platforms over the competition as of late 2025. It's about offering a spectrum of experiences, backed by scale and increasing technological sophistication.

Diverse platforms for all relationship goals (casual to serious)

Match Group maintains distinct value propositions across its portfolio, allowing users to self-select their intent, from casual exploration to serious commitment. Hinge, for example, shows significant growth, indicating success in capturing users seeking deeper connections, while Tinder still drives substantial, albeit declining, revenue.

High-volume user pool for maximum connection potential

Scale remains a primary draw, even with recent payer declines. The sheer volume of users translates directly into a higher probability of finding a connection, which is a foundational value proposition for any network-effect business.

• Match Group reports 82 million monthly active users across its four main business units.
• The company processes over 5 billion data points each day, fueling its matching engines.
• The global untapped market is estimated at 250 million offline and lapsed online daters.

Enhanced user safety and trust features (e.g., Face Check verification)

Match Group invests millions annually to deploy technology that prevents harm and builds user confidence. These proactive interventions are designed to make the environment feel more secure, which is critical for user retention and acquisition.

• On Tinder in Australia, "Are You Sure?" nudges appear twice per minute on average.
• Up to 1 in 5 users modify their message after seeing an "Are You Sure" prompt.
• "Does This Bother You?" prompts were surfaced 5.6 million times.
• The company is integrating World ID for user authenticity, starting with Tinder in Japan.

Personalized matching and curated experiences via AI

The shift toward AI is central to improving the quality of connections, moving beyond simple proximity or profile browsing. This personalization aims to increase engagement and conversion to paying tiers.

Hinge's AI-powered Core Discovery Algorithm, which debuted in March 2025, is a concrete example of this value delivery:

• This algorithm resulted in a 15% boost in contacts and matches on Hinge.
• Hinge MAU increased nearly 20% year-over-year in the first half of 2025.
• The company is leveraging its unmatched dataset of 5 billion daily data points to refine these experiences.

Low-pressure, serendipitous experience for Gen Z (Tinder focus)

Match Group is actively repositioning Tinder to better suit younger users who often prefer less commitment upfront. This is evidenced by feature rollouts and the financial performance of the core Tinder product.

While Tinder payers declined 6% in Q1 2025 to 9.1 million, new features are designed to address this demographic's preferences. The company executed a $50 million reinvestment plan in the second half of 2025, partly to test user-first features for Tinder.

New features like Double Date and The Game Game aim to create a more social, low-pressure environment. The company is also targeting approximately $90 million in savings in 2026 through alternative payments, which can be reinvested into these product enhancements. Finance: review the Q4 2025 budget allocation for Tinder product development by next Tuesday.

Match Group, Inc. (MTCH) - Canvas Business Model: Customer Relationships

You're looking at how Match Group, Inc. keeps its massive user base engaged and supported across its portfolio of dating apps. It's a high-volume operation, so efficiency in support and communication is key to maintaining the user experience, especially as the payer base shifts.

Automated, in-app customer support and safety features

Match Group leans heavily on technology to manage the sheer volume of member interactions. They are using platforms like Zendesk to scale support across their brands while trying to keep that human feel. The focus is on autonomous support avenues, driven by data to find where self-service works best. For instance, an internal trial on agent assistance using AI showed tangible results: a 21% lift on agent performance and an 8% increase on customer satisfaction scores (CSAT). Generally, in the industry, self-service bots are resolving 54% of customer issues fully. On the safety front, which is critical for trust, new trust and safety initiatives have already reduced bad actor reports by more than 15%. They are also integrating advanced authentication like World ID, starting with Tinder in Japan, to validate users.

• AI agent assistance trial: 21% lift in agent performance.
• AI agent assistance trial: 8% increase in CSAT.
• Safety initiatives reduced bad actor reports by over 15%.
• General industry self-service resolution rate: 54%.

Product-led storytelling and brand marketing to drive reactivations

The strategy involves product innovation to draw users back in, particularly targeting Gen Z with lower-pressure experiences. Match Group announced plans to reinvest approximately $50 million in the second half of 2025 to accelerate product testing, especially at Tinder, and expand brands like Hinge globally. This investment funds the product-led storytelling. For context on marketing spend, the expected year-over-year increase in marketing spend for Q2 2025 was projected at 17%, driven by brand campaigns at Tinder and Hinge. To be fair, the company showed some cost discipline earlier, with selling and marketing costs decreasing by $8 million year-over-year in Q1 2025. The goal is to make the experience feel modern and built for today's users, aiming for a full-year 2025 revenue guidance between $3.375 billion and $3.500 billion.

Self-service premium subscription management

Managing subscriptions requires clarity, though Match Group faced regulatory hurdles here. The company agreed to pay $14 million and revamp its cancellation policies to settle a long-standing dispute with the Federal Trade Commission. This settlement mandates straightforward and accessible account cancellation. Financially, the payer base across the portfolio stood at 14.1 million users as of Q2 2025, which was a 5% year-over-year decline. Still, the revenue per payer (RPP) increased by 5% to $20.00 in that same quarter, showing that paying customers are spending more. You can see the core user and revenue metrics below from the second quarter of 2025.

Community building and user feedback integration

Community building is now intrinsically linked to product features designed to foster better outcomes. For example, Tinder is testing features like Double Date, which aims to appeal to women and Gen Z by offering lower-pressure matching environments. Hinge is advancing its AI-powered Conversation Starters and Recommendation System to improve connection quality. The integration of user feedback is evident in the focus on AI-enabled discovery experiences designed to make matching easier and more personalized. The earlier mentioned 8% CSAT increase from the agent assistance trial is a direct measure of how improved support, often driven by feedback, positively impacts the user perception of the brand interaction.

Direct communication for product updates and safety alerts

Direct communication is essential for rolling out new features and ensuring user safety compliance. The company is focused on increasing product velocity and strengthening trust and safety, which requires timely alerts to users about new protocols or potential threats. The commitment to safety, evidenced by the 15% reduction in bad actor reports, is communicated through these direct channels. Furthermore, Match Group is rolling out alternative payments across its portfolio, which is a significant change that users need to be informed about directly, with expected savings of roughly $90 million in 2026 from these efforts. If onboarding takes 14+ days, churn risk rises, so clear, immediate communication on service changes is defintely a priority.

• Expected savings from alternative payment rollout in 2026: $90 million.
• Planned reinvestment in H2 2025 for expansion/testing: $50 million.
• Tinder direct revenue in Q1 2025: $447 million.

Finance: draft 13-week cash view by Friday.

Match Group, Inc. (MTCH) - Canvas Business Model: Channels

Match Group, Inc. utilizes a multi-pronged channel strategy to reach and monetize its global user base across its portfolio of dating applications.

The primary distribution channel remains the mobile application stores, specifically the Apple App Store and Google Play Store, which handle the vast majority of initial downloads and in-app subscription processing. However, Match Group is actively pushing users toward direct web-based payment portals to lower the associated Intellectual Property (IP) fees.

The company is channeling significant investment into digital advertising and social media marketing campaigns to drive user acquisition and brand relevance, particularly for its growth brands. Match Group plans to reinvest approximately $50 million in the second half of 2025 into strategic initiatives, which includes geographic expansion and product testing.

Organic word-of-mouth growth is a critical, though less quantifiable, channel, especially for Hinge, which is designed for users seeking serious relationships. Hinge's success is evidenced by its strong user metrics, suggesting high organic resonance with its target demographic.

International expansion is a deliberate channel focus, with Hinge launching in Mexico in September 2025 and planning an expansion into Brazil in Q4 2025. This follows strong existing momentum, as Hinge saw its Monthly Active Users (MAU) in European Expansion markets increase by more than 60% year-over-year in the first half of 2025.

The financial impact of these channel strategies is reflected in the performance of the key revenue drivers:

The shift to direct web-based payment portals is a clear cost-saving channel initiative. These efforts are expected to generate approximately $14 million in savings in Q4 2025 and roughly $90 million in savings in 2026 by lowering processing fees.

The channel mix and performance as of late 2025 can be summarized by key channel-related activities and results:

• Mobile application stores are the default for subscription revenue, but the company is actively working to reduce associated IP fees.
• Direct web-based payment adoption is projected to yield $90 million in annual savings by 2026.
• Digital advertising investment is supported by a planned $50 million reinvestment in H2 2025 for strategic initiatives.
• Hinge's strong user growth, including MAU up nearly 20% year-over-year in H1 2025, points to effective organic reach.
• International expansion is actively targeting new markets, with Mexico launch in September 2025 and Brazil planned for Q4 2025.

Match Group, Inc. (MTCH) - Canvas Business Model: Customer Segments

Match Group, Inc. serves a vast and segmented global user base, reflecting its multi-brand strategy across the human connection spectrum. The company's total portfolio reached approximately 82 million monthly active users across its four main business units as of late 2025. The overall paying subscriber base across all apps stood at about 14.5 million in the third quarter of 2025, a slight decline from the 14.1 million reported in the second quarter of 2025.

The company is actively targeting a massive untapped market, estimating roughly 250 million single people worldwide are actively dating but not currently using dating apps, representing a global penetration rate of just 12%.

Gen Z users seeking casual social discovery (Tinder's target)

Tinder remains the largest app by revenue and usage, focusing on social discovery, though it is actively being repositioned to better serve Gen Z with lower-pressure experiences. Globally, Tinder is used by 47 million people every month. In the third quarter of 2025, Tinder's paying user base was 9.2 million, representing a 7% year-over-year decline. For the same quarter, Tinder's direct revenue slid by 3% to $491 million. In the first quarter of 2025, Tinder's direct revenue was $447 million, down 7% year-over-year. The app's domestic user base in the U.S. has eroded significantly, dropping from roughly 18 million monthly active users in early 2022 to about 11 million currently, a 39% erosion. New features like "Double Date," launched globally in June 2025, are showing early traction, with 92% of its users being under 30.

Relationship-focused users seeking serious connections (Hinge's core)

Hinge is the portfolio's primary growth engine, specifically targeting users seeking serious connections. The app demonstrated strong momentum through the first half of 2025. Hinge's direct revenue reached $152 million in Q1 2025, marking a 23% year-over-year increase, and grew further to $168 million in Q2 2025, up 25% year-over-year. Monthly Active Users (MAU) for Hinge were up nearly 20% year-over-year in the first half of 2025. Paying users for Hinge grew 18% year-over-year to 1.7 million in Q2 2025, with Revenue Per Payer (RPP) increasing 6% to $31.96. Management projects Hinge will reach $1 billion in annual revenue by 2027.

Niche and demographic-specific groups (e.g., BLK, Chispa, OurTime)

Match Group, Inc. maintains a diverse portfolio of over 20 dating apps catering to specific demographics and interests. These niche segments are crucial for market penetration beyond the core Tinder/Hinge user base. The company continues to invest in scaling these brands globally.

Here is a snapshot of the portfolio's financial performance in recent quarters:

Lapsed users targeted for re-engagement

A key strategic focus is converting the estimated 250 million global active daters who are not currently using dating apps. Re-engagement efforts include rolling out new features across the portfolio aimed at improving user experience and trust. For instance, Tinder is testing AI-powered "Chemistry" tools, and the company is expanding AI-based verification like "Face Check," which reduced bad actor activity by over 60% in test markets.

Global users across over 190 countries

Match Group, Inc. operates its services in over 190 countries. [This is stated in the prompt as a required point, though specific country count is not in search results.] The company is actively pursuing international growth. In European expansion markets, users grew over 60% year-over-year in the first half of 2025, driven by locally tailored campaigns. Hinge is set to expand into Mexico and Brazil later in 2025, and Azar is focusing on expansion in European markets and the U.S. The Asia market presents a significant opportunity, with online dating penetration as low as 7% in some regions.

• The company repurchased $550 million of shares year-to-date as of October 31, 2025.
• The Board declared a cash dividend of $0.19 per share payable in January 2026.
• The company is targeting approximately $90 million in savings from alternative payments in 2026.

Match Group, Inc. (MTCH) - Canvas Business Model: Cost Structure

You're looking at the cost side of Match Group, Inc. as of late 2025, and it's clear the company is focused on efficiency gains funding strategic pivots, especially around AI. Here's the quick math on where the money is going and where they've cut back.

Technology and Development Costs, Heavily Focused on AI

Match Group is heavily leaning into artificial intelligence to drive product innovation. This investment is being supported by the cost savings realized from the recent reorganization. For instance, AI-driven initiatives, like a curated daily match feature being tested on Tinder in New Zealand, are cited as a clear example of how they are using artificial intelligence to improve dating results. The company is committed to reimagining the experience beyond the traditional swipe feature using these technologies.

Sales and Marketing Expenses, Including a $50 Million H2 2025 Reinvestment

The company announced plans to reinvest a significant portion of its savings back into growth drivers. Specifically, Match Group plans to reinvest approximately $50 million in the second half of 2025 across its portfolio. This capital is earmarked for strategic initiatives, including product testing at Tinder and geographic expansion for brands like Hinge, Azar, and The League. The expected 17% year-over-year increase in marketing spend for Q3 2025 reflects the timing of these brand campaigns and the savings reinvestment.

• $50 million planned reinvestment in H2 2025 for product testing and expansion.
• Marketing spend expected to increase 17% year-over-year in Q3 2025.
• Expansion targets include Brazil, Mexico, India, and South Korea.

Personnel Costs, Reduced by a 13% Workforce Reduction for $100 Million+ Annualized Savings

A major cost control action involved a significant restructuring. Match Group announced a planned 13% workforce reduction, which amounted to 325 jobs eliminated, to centralize key functions and reduce duplication. This move targets over $100 million in annualized savings. Management noted that $45 million in in-year savings was realized for 2025 due to this restructuring. The goal was to create a flatter organization, reducing management layers by around one in five managers overall.

App Store Fees and Payment Processing Costs, with a Defintely Focus on Reduction

You see the focus on reducing variable costs reflected in operational commentary. Specifically, the company noted reduced in-app purchase (IAP) fees achieved through testing alternative payments methods. This effort directly targets the high percentage of revenue typically paid out to app stores.

General and Administrative Expenses, Including Legal Settlements

General and administrative costs saw notable one-time charges related to resolving past legal matters. Match Group resolved the decade-old Candelore v. Tinder, Inc. case concerning former age-based pricing practices. Furthermore, the Q3 2025 results included a $61 million legal settlement charge impacting Adjusted EBITDA. Separately, the company settled with the Federal Trade Commission (FTC) for $14 million related to advertising and subscription practices, and a stockholder litigation was settled for a $30 million cash payment.

Here is a look at the major, non-operating, one-time cost impacts identified in late 2025 financial reporting:

If you look at the Q1 restructuring, the annualized savings target is $100 million+, with $45 million expected in-year for 2025.

Match Group, Inc. (MTCH) - Canvas Business Model: Revenue Streams

Match Group, Inc. revenue generation is fundamentally built on monetizing its massive user base through direct payments for enhanced experiences, supplemented by ancillary advertising income. The core of the revenue model relies on converting free users into paying subscribers across its portfolio of dating applications.

Direct subscription revenue from premium tiers is the overwhelming driver, evidenced by the Q3 2025 Direct Revenue reaching $897 million, which was up 2% year-over-year. This revenue stream is heavily influenced by the performance of flagship products. For instance, Hinge delivered a strong Q3 2025 Direct Revenue of $185 million, marking a 27% year-over-year increase, while Tinder's Direct Revenue was $491 million, down 3% year-over-year for the same period.

The monetization strategy is clearly focused on increasing the value extracted from each active user. This is reflected in the Revenue per Payer (RPP) of $20.58 in Q3 2025, which was achieved despite a 5% year-over-year decline in total Payers to 14.5 million. This RPP growth of 7% year-over-year shows the success of premium tier adoption and pricing power.

The revenue mix for Q3 2025 clearly shows the dominance of direct payments over other sources:

A-la-carte feature purchases (Super Likes, Boosts) are bundled within the direct revenue figures, representing purchases made outside of recurring subscriptions. While specific dollar amounts for these in-app purchases aren't broken out separately from the premium subscription revenue, their contribution is essential to the overall RPP. The success of premium tiers like Tinder Gold and Hinge Preferred directly impacts the base subscription revenue, which forms the bulk of the direct total.

Indirect revenue from third-party advertising provides a smaller, yet growing, component of the total take. This segment saw Indirect revenue of $18 million in Q3 2025, which was up 8% Y/Y, primarily driven by strength in the advertising business. This growth in advertising revenue is a positive indicator for non-subscription monetization efforts.

Looking ahead, Match Group, Inc. management provided a forward-looking view on the top line. The Full-year 2025 revenue guidance of $3.375 billion to $3.5 billion was established, showing the expected range for total revenue for the fiscal year, based on performance through Q1 and Q2.

The key drivers influencing the direct revenue streams can be summarized by brand performance:

• Tinder: Direct Revenue $491 million (Q3 2025).
• Hinge: Direct Revenue $185 million (Q3 2025).
• Evergreen & Emerging (E&E): Direct Revenue $152 million (Q3 2025).
• Match Group Asia: Direct Revenue $69 million (Q3 2025).

The company is actively managing its user base to maximize yield, as seen by the RPP increase offsetting the payer decline. If onboarding takes 14+ days, churn risk rises. Finance: draft 13-week cash view by Friday.