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.
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 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 2013 the Match Group generated worldwide sales of 788 million U.
The “Revenue” box shows the forecasted revenue development of the selected market (market segment, region) in million US dollars for each year.
Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide.
This statistic gives information on the development of the mobile dating market revenue in the United States from 2009 to 201 with forecast until 2017.
In the past five years, some prominent acquisitions and partnerships have taken place, namely by IAC. The Dating Services industry can expect strong demand in the next five years.