players guide online dating - Trends online dating industry
The single population over the age of 18 in the United States is estimated to be between 92 and 100 million people.
“This is a massive business,” said Roben Farzad, a writer for Smart Money magazine in September, 2005
“It’s hit an absolute homerun.” The Web has revolutionized this business and has brought affordable and convenient matchmaking to the masses.
This market is a now a $1 billion business in the U S.
The dating industry is comprised of matchmakers, newspaper and magazine personal ads, telephone chat lines, singles bars, nightclubs geared toward singles, speed dating organizations and internet dating services.
Internet dating services began to take shape with the advent of the first major player in the online industry, in 1995.
Years later, has maintained its place as the best known, most reliable resource and largest network for online dating.
Since the start of the new millennium the online dating industy grew rapidly from year to year. In 2004, however, those high numbers began to drop. Vice President of romance for Match.com, Trish Mc Dermott, reported a 154% growth in revenue, from .3 million in 2001 to 5.2 million in 2002.
Currently with the US market saturated with over 1000 dating websites, things are slowing down and leveling out.
Original growth statistics were approximately 70% a year, but by 2006, the growth of the industry slowed to just 10%. It is expected that this downward growth trend will continue through the year 2011.
At present the online dating industry is a 700 million dollar industry.
Because of the decline in industry growth, dating sites have focused on increasing conversions of viewers into paying subscribers in order to keep growing.