Bumble is introducing subscription plans geared towards Generation Z consumers for its dating app, aiming to encourage them to make payments.offering shorter durations and increased personalisation.
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GLOBumble is introducing subscription plans tailored to appeal to Generation Z consumers, aiming to encourage them to pay for its dating app. During a call with analysts discussing the third-quarter 2023 financial results, Whitney Wolfe Herd, the company’s founder and soon-to-be executive chair, highlighted two new subscription tiers, Premium Plus and a base tier, designed to target “high-intent, serious dating customers and Gen Z users.”
The Premium Plus plan offers expanded benefits, including offline experiences, while the base tier aims to allow “younger members” to “express their personalities on a deeper level and find connection in fun and social ways,” according to Herd. Recognizing the diverse behaviors within Gen Z, Herd emphasized the base tier’s focus on providing a more personalized experience aligned with the preferences of this demographic.
Bumble is also adapting to the preferences of Gen Z by offering shorter-term plans, such as weekly subscriptions, aligning with a broader industry trend. PYMNTS Intelligence’s study revealed that Gen Z consumers prefer lower-commitment options, with a significant portion subscribing for an average of 14 months. Bumble’s move reflects a broader shift in the dating app industry, with Match Group, the parent company of Tinder, finding that younger consumers are willing to pay slightly more per week for shorter-term plans.
The study further highlights that younger consumers, particularly Gen Z, demonstrate a high level of engagement with dating apps. Bumble’s paying user base saw a 25% year-over-year growth in the quarter, despite a 2% year-over-year decline in average revenue per paid user. Overall, the data emphasizes the importance of aligning subscription offerings with the preferences and behaviors of younger generations to drive growth and engagement in the competitive dating app market.
