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The Dating Services industry has performed well during the five years to 2013.
Revenue gains averaged 2.9% per year to reach .0 billion in 2013, with consumers increasingly turning to the internet to meet prospective dates.
“Fortunately, revenue has grown consistently throughout the remainder of the five-year period.” In response to the increasing number of US adults with smartphone devices, companies introduced a bevy of new products, including i Phone, Android and Blackberry dating apps, as well as locations services that use global positioning system (GPS) technology to find other single people in a customer’s vicinity.
In addition to product expansion, as consumer demand for online dating and matchmaking services has grown, new companies have entered the industry, says Moldvay.
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.
There is a moderate degree of market share concentration for the Dating Services industry.
The level of concentration within the dating services industry has risen throughout the past five years.
Industry consolidation is largely the result of increased mergers and acquisitions, as larger companies acquire well-established dating sites and companies to increase the density of their consumer bases.
APP ANNIE - July 25 - Tinder climbed the revenue ranks this month, and is now in the top five apps for combined Google Play and i OS revenue worldwide.
Engagement with Tinder remains high, especially with younger users.