The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Cory Carpenter - JPMorgan Chase & Co - Analyst
: Hey, thanks. Good afternoon, Spencer, you've been clear that one of your big priorities at Tinder is to improve engagement with the US users,
particularly under the age of 30. Hoping you could give us an update on how this cohort of users have responded to some of your recent product
launches and how Tinder engagement trended during the quarter? Thank you.
Question: Nathan Feather - Morgan Stanley - Analyst
: Hey everyone, thanks for taking the question. As it really came through in the letter, it seems like product testing velocity has accelerated over the
past few months. Given the large number of changes the company is making across brands, what's the best way for investors to track the status
of the turnaround as you go through this revitalized phase? And what are you monitoring internally?
Question: Robert Coolbrith - Evercore ISI - Analyst
: Great, thank you very much for taking questions. I really appreciate it and congratulations on some of the early progress. But just curious on some
of the things you're rolling out or expanding like Face Check. I wanted to just ask about that one in particular, the expansion there.
Curious if you've made any changes to the experience or if you're just seeing users more willing to make the trade-off of verification in exchange
for improved experience? And then I know you said that there could be an opportunity for upside related to it, but I just wanted to ask about the
alternative payments experiments. And anything that you can share about your early learnings there and the financial potential of potential
expansion there? Thank you very much.
Question: Brad Erickson - RBC Capital Markets Inc - Analyst
: Yeah, thanks. So just had a follow-up on this kind of secular industry trends. Spencer, you mentioned the Gen Z cohort. Just wanted to drill in a bit
more there. COVID had these negative effects, but there's a view out there that maybe we're just sort of in an air pocket here and maybe the next
cohort might be exhibiting different behavior and maybe more favorable behavior. In all of your research you mentioned, would be curious just
to understand anything of your learnings that might support that view and what might be going on there? Thanks.
Question: Jason Helfstein - Oppenheimer & Co Inc - Analyst
: Thanks for taking the question. Just one. So Spencer, to your point that the naysayers out there say online dating is dead and we just hit a secular
wall. Some -- again, it sounds like you believe a lot of this has to do with making the product better. So as you roll out more features in Tinder. Do
you think this helps you better understand kind of who either the bad actors are or those who don't really want to engage in real life.
And then ultimately, you can kind of use the algorithm to make sure those people don't get surfaced and just you have is improvement in the
overall experience. So just maybe elaborate a little bit more on how like the new feature -- the future road map could ultimately kind of fix some
of the complaints that you've heard from users about that, right, like converting to (multiple speakers) --
Question: Ygal Arounian - Citigroup Inc - Analyst
: Yeah, so, just to understand the puts and takes on the products for Tinder and kind of what's embedded. I know, you're not giving Payer guidance
anymore, but just how to think about the trends in the back half. For example, are you seeing any Payer headwinds from the trust and safety
features like bots and face checks, is that having an impact at all any of the products driving any kind of notable Payer increase yet? Or well,
improvement, I guess, not increase? Or is that not happening?
And then on the in-app fees, just wanted to see if you could bridge from what you're experiencing at E&E, which, like you said, has more of the
kind of web -- historical web model versus Tinder and what you might expect to see at Hinge, I know you haven't done that yet. But are you seeing
a similar reception from users moving to web-based? And -- or is it kind of a different hurdle on that front? Thanks.
Question: Chris Kuntarich - UBS - Analyst
: Great, thanks for taking the question. You guys have talked a lot today about some really good early success on the product front for Tinder. Are
you expecting to capture any more value by taking price in the back half of the year?
And Steve, I believe you made a comment last quarter that you're kind of expecting similar year-over-year Payer declines at Tinder as you were
kind of expecting similar year-over-year declines for MAUs. Just want to make sure if that's the right way to be thinking about it? Thanks.
Question: Curtis Nagle - BofA Global Research - Analyst
: Great, thanks very much for taking the question. So not really sure what you can say on this Spencer, but just very curious about the point you
made about a new dating concept. Would this theoretically be a new form factor, maybe something less holistic in terms of brand focus in the
demo group? Just anything you could say on that would be very helpful and enlightening.
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