With an explosion of new websites and apps, the dating services industry has performed very well in the past five years and is continuing to grow as today's singles turn to the Internet for help finding love.
Read on to discover insights into the market for dating services and what the future holds for this industry. The dating services industry includes several different segments. Sites such as Match. Smartphones have brought online dating into the hands of thousands of Millennials through popular new apps. According to Business of Apps , the dating app Tinder is available in over 30 languages. The app has generated over one billion matches since its start, and subscriber estimates vary between , and , users.
The ability to connect instantaneously through an app is an appealing aspect to many single consumers. Because this apps is free, it makes its profits through ads and its premium service, Tinder Plus. Companies and professionals in this industry provide matchmaking services and host singles events such as speed dating.
These one-on-one services are more expensive than online dating sites. A Change of Heart The stigma once associated with online dating is disappearing. In , 29 percent of U. According to Pew Research Center , 54 percent of online daters felt that someone else seriously misrepresented themselves in their online profile.
Pew also found that 28 percent of online daters have been contacted by someone through an online dating site or app in a way that made them feel harassed or uncomfortable. Other challenges facing the market include fake online profiles, fraudulent traffic, database breaches, and privacy safeguards to protect users.
How Will the Industry Evolve? According to Marketdata Enterprises Inc. There are over 1, dating sites that all are working to attract the same consumers: In fall of , the leading dating site in the U. While Match said that nearly all of its revenue currently comes from paid membership fees on its sites, advertising revenue could be a big source of future growth, especially when it comes to increased usage among mobile users.
And finally, as more success stories emerge, many singles will turn to matchmaking services. Interested in learning more about the dating services industry? Check out all of our reports.