LOV Spark Networks Plc

BERLIN, May 27, 2022 /PRNewswire/ -- In an industry that has seen a dip in female membership over the past few years, Spark Networks SE (NASDAQ: LOV), a leading social dating platform for meaningful relationships, today announced that female engagement is growing on Zoosk, Spark's largest dating app. Female engagement continues to be a leading indicator of a healthier and more productive dating platform.

An updated matching algorithm and a revamped first-time user experience have driven double-digit growth in female paid subscribers, female subscriber conversions, and positive response rates to matches. Additionally, there has been a near 10% increase in daily active users who are female and a sizable uptick in female first-day retention.

TABLE 1. Year-Over-Year increases in the month of April 2022.

"We want to give people the opportunity to make connections that matter," said Tobias Plaputta, Chief Technology Officer of Spark Networks, "and we believe that the product improvements we have put in place at the end of last year are very much contributing to that becoming a reality for the amazing women and men who have chosen to use Zoosk as their place to find a perfect match."

Plaputta added, "We have focused on several engagement-driving product initiatives, specifically overhauling the look of Zoosk's profiles, and enhancing our search and matching algorithms. These improvements have led to a healthier and more productive platform that is attracting more female users and providing more overall bookings and an enhanced and more engaged experience for everyone." 

Spark is the fourth largest online subscription-based dating company across North America and Europe by revenue, and remains focused on successfully executing its well-developed roadmap of strategies and investments to deliver a first-class user experience, drive revenue growth and ultimately shareholder value in 2022 and beyond.

Spark Networks SE (NASDAQ: LOV) is a leading social dating platform for meaningful relationships focusing on the 40+ demographic and faith-based affiliations. Spark's widening portfolio of premium and freemium dating apps include Zoosk, EliteSingles, SilverSingles, Christian Mingle, Jdate, and JSwipe, among others. Spark is headquartered in Berlin, Germany, with offices in New York and Utah.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, statements involving known and unknown risks, uncertainties, and other factors that may cause Spark Networks' performance or achievements to be materially different from those of any expected future results, performance, or achievements. These statements include, without limitation, statements regarding leading indicators of revenue growth; statements regarding being well-positioned to return to sustainable revenue growth; our focus on successfully executing the well-developed roadmap of strategies and investments we have in place to drive revenue growth and ultimately shareholder value in 2022 and beyond.

Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Written words, such as "believes," "hopes," "intends," "estimates," "expects," "projects," "plans," "anticipates," "guides," and variations thereof, or the use of future tense, identify forward-looking statements. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially, including, but not limited to, the risk that the benefits from the acquisition of Zoosk, Inc. may not be fully realized or may take longer to realize than expected; risks related to the degree of competition in the markets in which Spark Networks operates; risks related to the ability of Spark Networks to retain and hire key personnel, operating results and business generally; the timing and market acceptance of new products introduced by Spark Networks' competitors; Spark Networks' ability to identify potential acquisitions; Spark Networks' ability to comply with new and evolving regulations relating to data protection and data privacy; general competition and price measures in the market place; risks related to the duration and severity of COVID-19 and its impact on Spark Networks' business; and general economic conditions.  Additional factors that could cause actual results to differ are discussed under the heading "Risk Factors" in Spark Networks' most recent Annual Report on Form 10-K and in other sections of Spark Networks' filings with the Securities and Exchange Commission ("SEC"), and in Spark Networks' other current and periodic reports filed or furnished from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement except as required by law.

Contact

Investors:
Todd Kehrli
MKR Investor Relations, Inc.
lov@mkr-group.com

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SOURCE Spark Networks SE