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Feb 03, 2020 · The Badoo dating site connects singles in 47 languages and across 190 countries. Badoo has the largest singles database in the world, and these aren’t all inactive profiles. The dating platform has over 60 million monthly active users, and it sees over 12 billion swipes per day.
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Sep 25, 2020 · U.S. online dating site and app usage 2017, by relationship status Most popular online dating services in selected countries as of February 2014 U.S. user opinion on typical personality traits of ...
- Bumble. Bumble is basically Tinder for women... and on a timer. Bumble is a free dating app that requires women to message first. If the guy doesn't message back within 24 hours, he loses the potential dates.
- Tinder. Whether you're looking for a casual hookup, potential date, friendship or an LTR (long term relationship), Tinder has you covered. It's basically the first stop for those entering the dating world.
- OkCupid. OkCupid, how you confuse me. I have friends who've met their ideal match and even spouses through OkCupid. My last serious relationship came from the OkCupid dating service.
- Hinge. Hinge finally won me over, becoming my favorite dating app last year. Originally the app focused on common connections and mutual friends that you and a potential partner shared on Facebook, which was a gimmick I was never sold on.
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- Online Dating Industry Market Size
- The Online Dating Industry’S Major Players
- The Online Dating Industry Business Model
- Parting Thoughts
It might be hard to imagine or remember, but there was once a time when going on a date with a stranger you met online was a strange concept—frowned upon, even. Today, however, millennials have led the charge on transforming the dating industry and making online dating universally accepted. In fact, a January 2018 Statista survey revealed that 12% of 18-29-year-olds admit to being in a relationship with a partner or spouse that they met online. If you continue to have doubts, consider that there are now over 1,500dating apps or websites looking to draw single men and women to their product, and to match them with one another. Though matchmaking is one of the oldest industries in existence, online matchmaking is now havinga moment of its own. This article explores the business of dating: the market size of dating apps in the U.S., the industry’s biggest players, and how these products actually make money (if they even do!)
According to research firm IBISWorld, dating services in the US will be a $3 billion a year business in 2018, growing since the previous year. Around 15% of US adults, or around 50 million Americans, say that they have or continue to use websites or mobile dating apps in their pursuit of romance. While these numbers are promising, it’s interesting to note that some sources indicate that revenue growth for the industry is projected to slow through 2022. Others, however, predict that revenue is expected to grow 25% by 2020. Still, it’s a fast-growing industry. According to the Pew Research Center, between 2013 and 2015, 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. This is all on top ofthe growing ubiquitousness of broa...
An Overview of the Biggest Players
At its simplest, dating apps generally fall into two categories. On one hand, there are websites and apps like Match.com and OkCupid which require users to complete personal essays and personality questionnaires, which are then used for compatibility pairing. On the other hand, services like Tinder, Hinge, and Bumble eschew these surveys and essays, instead requiring that users link up their other social media accounts (Facebook, Spotify, Instagram). Apps in this second camp automatically pop...
Increased Consolidation and Domination by Large Players
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. According to Justin McLeod, CEO of Hinge, “…ultimately, Tinder is the gorilla in the casual end of the spectrum, which is our space. Tinder has the lion’s share. Maybe one or two of these other ones will survive, and be profitable, but the only reason they exist right now is they’re operating off venture capital. Very few of the newer apps will end up lasti...
A Note on VC Investment in The Online Dating Industry
It’s perhaps due to this dynamic that the tech and venture capital world has been tepid in its dating app investments. According to PrivCo, while funding was up in 2014, the size of individual rounds is declining. Small amounts of funding are generally not enough for the large marketing budgets that dating apps require for user acquisition. From early 2016 to 2017, early-stage startups only received $7 millionin funding. In addition, though venture capitalists have poured close to $150 millio...
So, how exactly do dating apps make money while keeping in mind the importance of utility to the user in the space? In general, the business model for dating apps falls into three broad categories: subscription plans and freemium, which utilize advertising and in-app purchasing.
It’s clear that the online dating industry is here to stay. Some say it’s already changed the very fabric of society and could lead to stronger, more diverse marriages. It will be fascinating to see what’s upcoming, especially with Facebook entering the online dating industry—perhaps the death of niche apps, or the death of swiping.