Online dating business case
When it comes to finding love, “there’s a lid for every pot,” as the saying goes.These days, online dating makes it easier than ever to find your “lid.” While dominated by big name, mass audience sites, like and e Harmony, a growing number of niche sites are finding success targeting singles looking for something very specific.And by 2018, more than 80 percent of the population will own a smartphone up from 46 percent in 2012, according to IBISWorld.Langston says that for e Harmony, that’s meant users are checking in more often—six to twelve times a day instead of two or three.Plus, more people are getting online all the time—70 percent American adults had broadband access as of last May, up from 42 percent in 2006.As ever more people meet on the web, they’re also peeling away the stigma once associated with it.In 1970, just 28 percent of American adults were single; today, the share is 47 percent, according to the Census Bureau.That means an expanding target market, and it doesn’t include the unknown number of married people trolling the sites.
Baby Boomers in the 50- to 64-year-old range may be the group attracting the most industry competition, according to IBISWorld.Of course there are sites aimed at specific religious or ethnic groups, but there are also those who aim to match couples with very specific interests.The Passion Network, for example, is a small empire of 250 dating hubs like bronypassions.com, for fans of the My Little Pony TV series; for mustache mavens; and even zombiepassions.com, for those obsessed with the walking dead.Last December, more than 1 in 10 American adults visited dating sites, spending more than an hour a day there on average, according to Market research company Nielsen.
(The 1.8 million visitors to OKCupid topped the field for time spent, at 3 hours a day.) Changing demographics are a big part of what’s inflating the industry.Thanks to the growth of such sites, the industry has expanded at 3.5 percent a year since 2008--right through the recession--to become a .1 billion powerhouse.