Match Group, the parent company of Tinder, has been promoting “premium subscription features” but Tinder is still struggling to move away from its reputation as a ‘hook-up app’. However, the company is currently testing an ultra-expensive subscription offering called “Tinder Vault” for wealthy users looking to connect with other affluent individuals.
The subscription costs $500 per month and comes with a “special status” and a “priority pass” for profile boosts. The service is still in its early stages and may change its name, price, or features. Some sources suggest that there may be an even more expensive subscription than Tinder’s current $30 per month Platinum subscription.
The proposed services for the “Tinder Vault” subscription include a 24/7 personalized concierge service for pick-up artist advice, as well as a “premium passport” for access to the most active and influential members.
Although the company is leaving the door open to abandoning the idea altogether, for now, it seems that only the wealthy will be able to swipe right on other semi-influential folks.
According to a Fast Company report, Tinder’s Chief Product Officer Mark Van Ryswyk confirmed that the new feature “Tinder Vault” would be an extension of the app’s existing features. He suggested that the company may not include real-life human matchmakers in the final product.
While the subscription’s concept may seem like “Tinder, but for rich people,” it’s not new to Match Group, the owner of Tinder. The company also owns other dating apps, including Hinge and OkCupid, and purchased The League last year, which offers pricey access options for “high-powered people who are ready for a long-term relationship.”
Despite the layoffs in high-paying industries like tech, The League subscribers have remained steady. This suggests that Match Group is still confident in the Vault concept to some extent. Since the departure of Tinder’s previous CEO Renate Nyborg, the app has been trying to move away from the hook-up image and become more like Hinge.
In 2022, Match Group reported a 2% decline in total revenue compared to the previous year. However, the company’s CEO Bernard Kim mentioned a “bold new marketing campaign” for Tinder in 2023.
The company’s product roadmap includes “premium subscription features” and “premium discovery preferences” under the category of “broadening monetization,” alongside expanded discovery features.