NEW YORK (TheStreet) -- Match Group's (MTCH - Get Report) popular dating app, Tinder, forecasts its paid subscribers to grow twofold by the end of this year, Cowen & Co. analysts said, according to Bloomberg.
On average, Tinder users spend around 35 minutes everyday, swiping left or right about 140 times in hopes of finding their significant other.
As the app continues to attract more singles, the firm anticipates advertising to be a significant source of revenue in the future, particularly in 2017.
Additionally, when analysts spoke to CFO Gary Swidler, he said the company's efforts to monetize the dating app was "ahead of schedule," Bloomberg added.
Dallas-based Match Group provides dating products. It operates a portfolio of brands such as Match, OkCupid, Tinder, PlentyOfFish, and more.
Shares are falling 1.92% to $13.28 on Friday afternoon.