Though matchmaking is one of the oldest industries in existence, online matchmaking is now having a moment of its own.
This article explores the business of dating: the market size of dating apps in the U.
Others, however, predict that revenue is expected to grow 25% by 2020. According to the Pew Research Center, between 20, online dating usage has tripled among those between the ages of 18 and 24.
Beyond its existing users, dating services benefit from tailwinds such as an untapped market, increasing millennial spending power, young people delaying life milestones such as marriage and home purchasing, as well as working longer hours.
Some might even say that they “work to provide a stream of warm bodies as fast as possible.” Each app has its own competitive advantage or spin on the dating game: With its monthly subscription fee, attracts people willing to put their money where their mouth is.
On the opposite end of the “casual to serious” dating spectrum, Tinder pairs potential hookups based on a mere glance and swipe of a photograph, is easy to use, and is user-friendly, generating 1.2 billion profile views and 15 million matches a day.
There are two factors that have shifted the landscape towards the giants in the market, the first of which is the huge success of Tinder.
And, while Tinder is the most popular among 18-29-year-olds, is most popular for the 30-44 demographic.
The second largest competitor is e Harmony, with just under 12%.
Users might not realize that Match Group actually comprises 45 brands, including big names such as Match.com, Ok Cupid, and Tinder, and it IPOed in 2015.
Dating apps are essentially another form of social media, where a product’s value often hinges on how many people are on it and using it.
New sites may have difficulty garnering more users, and, according to Ok Cupid’s chief product officer Jimena Almendares, “If you visit a product and there aren’t that many people to see, the likelihood of you coming back is going to decrease rapidly.