More singles in the baby-boomer generation will continue to increase demand and revenue.
Los Angeles, CA (PRWEB) September 20, 2013
The Dating Services industry has performed well during the five years to 2013. Revenue gains averaged 3.5% per year over the five-year period to reach $2.1 billion in 2013, with consumers increasingly turning to the internet to meet prospective dates. Industry firms that provide subscription-based membership, however, faced revenue declines in 2009 due to decreased per capita disposable income levels during the recession. “Fortunately, revenue has grown consistently throughout the remainder of the five-year period,” according to IBISWorld Industry Analyst Jeremy Edwards. In 2013, industry revenue is expected to rise a robust 7.1%. In response to the increasing number of US adults with smartphone devices, companies introduced a bevy of new products, including iPhone, Android and Blackberry dating apps as well as location services that use global positioning system (GPS) technology to find other single people in a client's local area.
In addition to product expansion, as consumer demand for online dating and matchmaking services has grown, new companies have entered the industry. IBISWorld estimates that the number of companies in the Dating Services industry increased at an average annual rate of 3.1% to 3,898 in the five years to 2013. Employment expanded as well, rising at an average rate of 3.1% per year to an estimated 7,376 employees in 2013.
The Dating Services industry can expect strong demand in the next five years. The percentage of households with access to the internet is projected to continue rising throughout the period, which will expand the consumer market for online dating services. “It is estimated that niche dating networks and services catering to the baby-boomer generation will see the most growth,” says Edwards In addition, revenue for the mobile dating market is expected to nearly double in the next five years, with rising smartphone adoption and new location-based features leading the market.
For more information, visit IBISWorld’s Dating Services in the US industry report page.
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IBISWorld industry Report Key Topics
Companies in the Dating Services industry provide services allowing clients to meet with other clients, usually with the intent of pursuing romantic relationships. Services can be provided via phone, internet, magazine and newspaper. The industry also includes companies that organize singles events, such as speed dating. It does not include social networking sites.
Key External Drivers
Industry Life Cycle
Products & Markets
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Globalization & Trade
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