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Online Daring Growing Considerably in Revenue and Popularity

New research from Pew show that even though one-in-ten Americans are using an online dating platform, only 5% of Americans who are married or in a committed relationship met their partner online. This doesn’t mean that the online dating industry as a whole isn’t profiting.

 

The online dating industry has increased considerably and generates about $2 billion in revenue each year, according to Nasdaq. The growth rate of the industry has been 5% annually be-tween the years of 2010 and 2015. Steve Yoder, from The Week, claims the creators of Match, whose portfolio also includes OkCupid and Tinder, went public in November of 2016 at $12 a share. More people are wanting in on the action. According to business research firm IBISWorld, there are almost 3,900 companies who are running dating sites.

Just like with Uber, online dating had a lot of stigma surrounding it, but today many use both regularly with confidence. According to Pew re-search, the use of online dating sites and apps by young adults has almost tripled since 2013. In the past, in 2005, very few Americans knew of online dating or knew someone who used online dating. Now, half of the public knows someone who uses or found their significant other on online dating sites or apps.

Dylan Lewis, from The Motley Fool, claims attitudes toward online dating have grown more positive. From 2005 to 2015 the view that online dating is a good way to meet people has grown 15%. The view that people who use online dating sites are desperate has decreased by 6%. The percentage of people be-tween the ages of 55-64 who use online dating sites or apps have doubled since 2013. It’s not just the younger generations that are online dating.

Not only is the number of users of online dating increasing, the number of dates resulting from the use of an online dating platform are also increasing. The percentage of people who went on dates with people they met online has jumped from 43% to 66% since 2005.

Looking at the statistics it seems that the online dating business will continue to grow in popularity, profits, and users. Only time will tell what the future holds for online dating.

 

Sources

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