3 examples of how online dating has grown as a business
Online dating has grown exponentially in its profitability and its social acceptance over the years. Here are a few ways in which it has become financially viable:
According to this article in Digital Trends:
Vox recently analyzed data from 35 years’ worth of wedding announcements in The New York Times, and found that “online” now ranks as the third most common way people meet — second only to “school” and “mutual friend.” In the older-than-40 age range, it creeps into the second spot. Even more remarkable than the speed with which such services became mainstream is our willingness to fess up: Maybe it wasn’t so much a meet cute as it was a photo swipe while sitting on the john. And you know what? Maybe there’s nothing wrong with that.
We already trust our computers to do our shopping and banking, why shouldn’t the fruits of the home computer revolution help us find love? Online dating will be a $2 billion industry in 2016, according to market research firm Ibisworld. And the rise of the smartphone is only going to increase that adoption.
According to this article in TheStreet:
Match’s first-quarter earnings beat Wall Street’s projections, as did revenue of $285.28 million, which was a 21.4 percent year-over-year rise.
The company projects 2016 dating revenue of $1.1 billion to $1.14 billion and expects non-dating revenue to rise slightly from 2015 levels of $112 million, in line with analysts’ expectations.
Along with the company’s acquisition of PlentyOfFish, Tinder’s growth has given the company’s business a boost. Tinder has witnessed its paid membership count top 1 million.
According to this article in GQ:
Men usually log on to Grindr for one thing and one thing only: fun, sexy times with other men. The dating app has cornered the market in virtual male sexual encounters, supplanting the often dangerous world of cruising into a safe, sociable digital space. But lately the app has been moving into new territory, including selling premium tickets to Madonna concerts. But its newest foray is its most ambitious yet: a full-blown fashion line.
Comprised of 29 separate pieces, Grindr’s debut fashion collection is titled ‘The Varsity Collection.’ This locker-room-like influence is clearly felt across the array of tight-fitting sportswear, wrought in flashy shades of primary colors. The line is grounded by high-cut shorts, tank-tops, T-shirts and swimming trunks, with the intricate print created in collaboration with design studio Print All Over Me. All sales of the clothing will go towards Athlete Ally, a charity benefitting LGBTQ athletes.
About Luke Harold Luke Harold is a journalist who has written for publications including the Philadelphia Inquirer and Orange County Register.