Business English Bits Issue 116
The 10-min homework newsletter that supports your advanced business and English language learning...
It’s Tuesday which means a new edition of Business English Bits.
Today’s video report from WSJ focuses on a business segment which is close to all our hearts (💕), that of dating apps and the monetisation of love (or lust). The global dating app industry is now annually worth a cool $5Bn and with 350 million users, the demand for the service is sky-high. From its humble beginnings in 1995, Match.com still leads the sector with its platform offering favourites such as Tinder and Hinge. Most platforms use ‘freemium’ models which give free access to part of the service and charge fees or subscriptions for greater reach or visibility.
The industry, however is facing a few headwinds* as the number of new downloads has been reducing over a number of quarters. Some experts are even asking if lovebirds are getting tired of swiping right.
*Headwind (n) - Conditions that impedes growth
The operators are facing this challenge by expanding the services offered within the product. The main idea is that these features will be helpful whether the user is either inside or outside a relationship. The hope is that this would stop clients leaving the apps once they have found ‘love’.
So what extra features are on the table*, Grindr is looking to AI to provide a ‘wingman/woman’** service which could, for example, suggest a cafe where a couple could potentially meet or propose conversation starters to help with small talk. Other platforms are adding social network tools where customers can connect with friends or look for travel or restaurant recommendations. The theory here is that younger generations have been brought up on social media and there is a certain expectation that these features should be part of a social/relationship app.
*On the table (ph) - In discussion
**Wingman/woman - Sb who helps, protects, or guides a friend or associate
Focus on some key new nouns from the video …
VIDEO: WSJ - (9min) - Dating Apps’ Hidden Money-Making Strategies, Explained
Key Words - (Smth = Something; Sb=Someone)
Quest (n) - Long search for smth
To Roam (v) - To move about or travel aimlessly
To Swipe (v) - To Move one's finger across screen
Backlash (n) - Strong negative reaction
To Monetise (v) - To earn revenue from smth
Cohort (n) - Group of people with a shared characteristic
Tier (n) - Row or level of a structure
To Hang out (pv) - To spend time socialising
To Pave (the way) (v/ph) - To create the circumstances for smth to happen
Trove (n) - Valuable collection
To Chew on (pv) - To give serious and careful thought to smth
Disparate (adj) - Different in every way
To Gravitate (v) - To move towards smth
To Morph (v) - To gradually change
Antithesis (n) - Direct opposite of sb/smth
Word of the Day … Guess the missing key word. Answer given below with examples!
Some new phrasal verbs to review …
Word of the Day Answer:
Drawback (n) - A disadvantage or a problem
Examples:
“One of the drawbacks of the new product is its high maintenance costs.”
“We noticed a potential drawback in your plan to highlight the report’s findings.”
Enjoy your Tuesday and see you tomorrow for the phrasal verb test …
Kevin