Dating Industry Facts

Dating Industry Facts

There are currently 139 million singles in United States[1] of which 40 million use the internet to find romance[2]. The online dating industry was worth $957 USD in 2008 making it the third highest online revenue grossing industry and is expected to grow by 10% through 2013[3]. In addition, the industry is recession resistant: as times get hard people look to more cost effective ways to meet someone new and online dating meets that needs.

In the US, the online dating industry is saturated but highly fragmented providing an opportunity for consolidation. There are 1400 operators in the US with the top three operators accounting for only 17% of the market[4].

CUSTOMERS[5]

Demographics: 44% of all singles over 18 are not married and the average age of marriage has risen steadily since 1950 to approximately 26 in 2005. 40% of all singles are between the ages of 18-35 while singles between the ages of 35-44 are most likely to use online dating services with singles between the ages of 25-34 in second place. 63% of singles are in the top 100 metro regions.

Lifestyle Trends: Single parents (at least one child at home) are just as likely to party as singles without children. Singles use of internet is primarily for entertainment (blogs, IM, video/audio, gaming). Singles are increasing viewing their relationship status as a choice rather than temporary state.

Consumer Attitudes: Singles have a desire for control, customization and personalization of the experience. In addition, they want a product/service that delivers on what it promises, prefer straightforward, no-hype advertising and they have a strong and/or growing preference for beneficial technology.  There is a higher density of singles in metropolitan areas. Singles are users of a broad array of media, have a notable concern for online safety and are receptive to meeting people online.

Media Views: 45% of Americans think going online is a great way to meet people while 30% of those who haven’t and wouldn't use online dating were concerned about safety.

Consumer Buying Power: Single parents more likely to use online dating than overall or childless singles. Urban singles are more likely to use online dating except singles between the ages of 25-34. Singles spend more hours on internet, especially those under 35. 73% of singles are online, younger have higher percentage of broadband access.

Advertising and Publicity: Single parents are more receptive to online marketing efforts. Singles, especially parents, are early adopters of technology and less price sensitive. Singles between the oldest and youngest part of the population are overlooked by marketers.

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[1] US Census 2008: http://www.census.gov/population/www/socdemo/hh-fam/cps2008.html

[2] The National, June 8, 2009: http://www.thenational.ae/article/20090608/FOREIGN/706079841/1014/ART

[3] Computer World Blogs, Feb 13, 2009: http://blogs.computerworld.com/online_dating_its_bigger_than_porn

[4] IBISWorld Inc., 2009: Online Dating & Matchmaking in the US: 81299a

[5] Packaged Facts: a Division of MarketResearch.com. (2007). Singles in the US: The New Nuclear Family.Rockville: Packaged Facts.