Company: MTCH
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000891103-25-000027
Chunk: 146

Company: Match Group, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 146
---
 a focus of international expansion in 2023 for Hinge. RPP increased as a result of pricing optimizations in the U.S.

E&E Direct Revenue declined 5% in 2023 versus 2022, as we continued to moderate marketing spend at our Evergreen brands. The decline at our Evergreen brands was partially offset by growth at our Emerging brands.

MG Asia Direct Revenue declined 6% in 2023 versus 2022, driven by declines at Hakuna and Pairs, partially offset by growth at Azar.

Indirect Revenue decreased $2.2 million primarily due to a lower rate per ad impression compared to the prior year, partially offset by higher ad impressions.

Cost of revenue (exclusive of depreciation)Years Ended December 31,2024$ Change% Change2023$ Change% Change2022(Dollars in thousands)Cost of revenue$991,273 $37,259 4%$954,014 $(5,949)(1)%$959,963 Percentage of revenue28%28%30%

For the year ended December 31, 2024 compared to the year ended December 31, 2023

Cost of revenue increased 4% primarily due to an increase in in-app purchase fees of $49.9 million primarily at Hinge as revenue increased and as a result of escrow payments returned in the prior year associated with the Google litigation, which are included in Corporate and Unallocated costs. The increase in in-app purchase fees was partially offset by a decrease in Variable Expenses of $13.9 million primarily at E&E and MG Asia as a result of the termination of certain of our live streaming services and the Hakuna app in 2024. Total in-app purchase fees were $696.6 million in 2024.

For the year ended December 31, 2023 compared to the year ended December 31, 2022

Cost of revenue decreased 1% primarily due to a decrease in Variable Expenses of $20.9 million, primarily related to costs associated with our live streaming services within MG Asia, and a decrease in employee compensation expense of $6.4 million, primarily within Corporate and Unallocated costs and Tinder. The decreases in Variable Expenses and employee compensation expense were partially offset by an increase in in-app purchase fees of $24.2 million, primarily at Tinder and Hinge, partially offset by the benefit from the escrow payments returned in 2023 associated with the Google litigation, which are included in Corporate and Un