Carl Borowitz, Marketing Manager, Online Dating Kings, outlines how the online dating market is evolving and what dating providers need to do to evolve with it.
The online dating market is becoming one of the main value added services in the telemedia market and is also driving affiliate marketing too.
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Snapshot of the online dating market
According to a study by Comparethemarket.com back in 2018 – published on Valentine’s Day that year, naturally – 76% of people think it is possible or highly likely to find love online and of the many millions who do use dating apps and online dating services, 56% of men and 55% of women have actually found love.
However, online dating finds itself in an interesting predicament. It is at once booming, with more users than ever, and stagnating – with those very same users become more demanding of the experience that they get from their dating apps. Cupid is confused.
Global Dating Insights editor Scott Harvey explains: “Online dating is in a really interesting place as we close out the decade. In terms of adoption and user acquisition, we’re seeing fantastic growth across different regions and age cohorts. Most of the stigma around meeting someone online has drained away, so a high percentage of singles will have a dating service on their phone or laptop if they’re looking to meet someone.
“That said, there is a lot of talk about stagnation on the product front at the moment. Many users are dissatisfied with the basic swipe-based interface, while plenty feel jaded because they can’t find a real connection. The sector is ripe for disruption because of this, and everyone is asking what the next big innovation will be.”
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