Online dating platform Tinder is reportedly developing a subscription service named Tinder Vault, which would cost users $500 per month or $6,000 annually. While the model is still in the early stages of development and has not yet been officially launched, it is being designed for users who are intent on finding long-term partners.
The idea was announced by the company’s chief product officer, Mark Van Ryswyk, and comes as the brand’s parent company, Match Group, posted its first quarterly decline in Q4 2022. The decline was attributed in part to Tinder’s “weaker-than-expected product execution,” according to Match Group CEO Bernard Kim.
Although Van Ryswyk declined to share the exact features that would be included in the new subscription model, he indicated that the company is “really looking at a whole range of additional value-add services to Tinder overall.” The idea is for Tinder Vault to be an upgrade of Tinder’s current technology, rather than a completely new segment, and for the $500 monthly fee to benefit the app as a whole without disrupting the experiences of free users.
The development of Tinder Vault may have been inspired by Match Group’s acquisition of The League, an exclusive dating app that costs users $1,000 per week to access potential partners. Van Ryswyk explained that the company had learned from the acquisition that there is an audience willing to pay more for higher-quality experiences.
While Tinder Vault may be more appealing to some users, its high price tag may not be well received by all. However, in the meantime, Tinder is already offering paid upgrades to its current services, including limitless swipes, prioritized likes, and profile boosts. The company is also reportedly discussing a new weekly subscription model for Tinder Plus members who may not want to pay for a month or year’s worth of access.