The internet and dating will continue to be a match made in heaven. With consumers using the internet more than ever before, demand for online dating services is on the rise. Demand from niche dating networks and baby boomers is particularly increasing, and a new wave of smartphone applications will bring the industry to more people. For these reasons, industry research firm IBISWorld has updated its report on the Dating Services industry.
Los Angeles, CA (PRWEB) September 09, 2012
The Dating Services industry has performed well over the five years to 2012. Revenue gains averaged 3.5% per year over the five-year period to reach $2.0 billion in 2012, 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. Fortunately, revenue has grown consistently over the rest of the five-year period. In 2012, industry revenue is expected to rise a robust 5.9%. According to IBISWorld industry analyst Caitlin Moldvay, in response to the increasing number of US adults with smartphone devices, companies introduced a number of new products, including iPhone, Android and Blackberry dating apps and GPS-based location services to find other single people in a client?s local area. As consumer demand for online dating and matchmaking services has grown, new companies have been entering the industry at an average annual rate of 3.0% to 3,745 in 2012. Employment expanded as well, rising at an average rate of 3.0% per year; currently, there are an estimated 7,085 employees in the industry.
The Dating Services industry can expect strong demand over the next five years, with revenue forecast to rise. The percentage of households with access to the internet is projected to rise continue rising over the period, which will expand the consumer market for online dating services. Growth is expected to be strongest in niche dating networks and among the baby-boomer generation. In addition, revenue for the mobile dating market is expected to nearly double over the next five years, led by rising smartphone adoption and new location-based features.There is a moderate degree of market share concentration for the Dating Services industry. In 2012, the top four companies accounted for 45.7% of industry revenue. The majority of the 3,745 operators are small nonemployer firms. ?Industry operators typically have few labor requirements because it is possible to service a large client base with only one or two employees,? says Moldvay. The level of concentration within the dating services industry has been rising over the past five years. In 2007, the top four companies counted for more than one-third of industry revenue. 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. As there are a myriad of different dating sites for consumers to choose from, companies are increasingly targeting companies with well-established reputations.
Over the past five years, some prominent acquisitions and partnerships have taken place in the Dating Services industry, namely by InterActiveCorp (IAC), the largest company in the industry. In 2010, Yahoo! Personals outsourced its business to IAC. Yahoo! Personals was one of the company?s largest competitors, therefore this migration represents significant consolidation within the industry. IAC also acquired OkCupid, Singlesnet and People Media over the last two years. 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 the industry provide services that allow 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.
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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.
Gavin Smith
IBISWorld
310-866-5042
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Article source: http://news.yahoo.com/dating-services-us-industry-market-research-report-now-080507255.html
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