Overview of the dating market
Introduction to the online dating industry
A January 2018 survey revealed that 12% of 18–29 old people admit being in a relationship with a partner or spouse they met online. Though matchmaking is one of the oldest industries in existence, with its 500 million users worldwide, online matchmaking is now having a moment of its own.
According to a research firm, dating services in the US alone is a $3 billion a year business, growing steadily over the past few years. 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 analysts indicate that revenue growth for the industry is projected to slow through 2022. Others, however, predict that revenue is expected to grow 25% by 2022.