Dating Services in the US Industry Market Research Report from IBISWorld has Been Updated
With consumers using the internet more than ever before, demand for online dating services is on the rise, particularly as demand from niche dating networks and baby boomers increases and a new wave of smartphone applications brings the industry to more people. For these reasons, industry research firm IBISWorld has updated a report on the Dating Services industry in its growing industry report collection.
Los Angeles, CA (PRWEB) March 16, 2013
The Dating Services industry has performed well during the five years to 2013. Revenue gains averaged 2.9% per year to reach $2.0 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 during 2009 due to declining per capita disposable income levels during the recession,” explains IBISWorld industry analyst Caitlin Moldvay. “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 iPhone, 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. Because there are a myriad of different dating sites for consumers to choose from, companies are increasingly targeting companies with well-established reputations. Current major players in the industry include InterActiveCorp (IAC), which owns popular sites like Match.com and OKCupid.com, and eHarmony.
In the past five years, some prominent acquisitions and partnerships have taken place, namely by IAC. In 2010, Yahoo! Personals outsourced its business to IAC. Yahoo! Personals was one of the company’s largest competitors, so this migration caused significant industry consolidation. IAC also acquired OKCupid.com, Singlesnet and People Media in 2010 and 2011.
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 experience the most growth. 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 this 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
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation´s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2013/3/prweb10537905.htm