The Dating & Matchmaking Market
Online Dating
According to a March 2006 report on Online Dating from the Pew Internet and American Life Project in 2004, "dating Web sites created more revenue than any other paid online content category, as they netted roughly $470 million in consumer spending, up from about $40 million in 2001." A flurry of institute research confirms that online dating emerged as a viable dating alternative several years ago.
The growth of online dating has been so strong that according to Jupiter Media Metrics visitors to online dating sites in 2006 increased by 57% outpacing the 22% overall growth of the Internet.
The U.S. online dating market will reach $932 million in 2011, according to JupiterResearch. More than 20 million Internet users visited such a site last December, reported comScore, with the top destinations being Yahoo! Personals, Match.com, True.com, Spark Networks and Singlesnet.com.
But, mainstream dating site memberships are stagnating or, in some cases, shrinking. The proportion of paying customers (5%) has stayed the same over the last five years, according to Jupiter. Furthermore, only 10% of Internet users visited an online dating site in 2006 -- a decrease from 16% in 2005 and 21% in 2002. Specialized dating sites, as a result, are increasing in numbers. It is speculated, though, they too must keep evolving to prevent stagnation.
Disenchanted with online dating, many singles seeing a long term relationship are turning to new online services offering personality profiling (e.g. eharmony, chemistry.com...).
"I look forward to the day that services charge $200 a month, provide personality profiling, dinner events, a guaranteed number of dates each month, and guidance on how to keep a specific relationship together based on each persons character, lifestyle and communication type.
Money is a great way to sort the wheat from the chaff, the serious (and committed to the process) from the not quite so serious. Money (monthlies) in itself is a great filter. Users are not satisfied with the current services in general so I'm sure we'll see an upward trend in what they are willing to pay to find the level of service they really need. The net is a GREAT medium. Users are hooked, but not happy. Many of our online personals users have limited time and limited patience and plenty of money. They want more than just hope. They want service.
Personality profiling services hold high promise...and high value in the minds of users. In time, as our audiences become more sophisticated they will realise that they get what they pay for. $10 a month, $20 a month, $50 a month. I think they want more handholding and will, in time, be prepared to pay for it. If real world services (table for six, it's just lunch...) can extract $1500-$2500 from motivated singles, the online personals world, which is vastly superior in many ways, should also." - Mark Brooks, onlinepersonalswatch.com, September 20, 2005
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Professional Matchmakers
With total estimated sales of $236 million in 2005, matchmakers are increasingly cashing in on customers disillusioned with impersonal online dating sites that have seen subscriber-growth rates ebb in recent years, according to Nate Elliott, an analyst at Jupiter Research. (Source Forbes - February 2007)
Different surveys and articles mention around 1300 independent matchmakers in the U.S. (Source: Matchmakers & Dating Services: A Consumer Guide, July 2005 by Marketdata Enterprises, Inc). We at the Matchmaking Institute have identified 400+ active personal matchmakers currently in business.
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The growing need for services - the growing niche of "personalized" services
(Source: Reuters - November 1, 2006)
Online daters, disappointed by potential partners lying about their age, weight or marital status, are turning to professional matchmakers to find love. Rather than risk taking pot luck online, chief executives, entertainers and politicians are among those paying thousands of dollars to matchmakers to discreetly "headhunt" and vet the perfect partner.
"In the old days you had your extended family, or in some societies an actual matchmaker, trying to find someone for you," said dating expert Mary Balfour.
"Nowadays people have a personal matchmaker in the same way they would have a personal trainer," she said at her Drawing Down the Moon agency in London's Adam and Eve Mews.
The stigma of online dating has waned since Internet dating sites sent thunderbolts flying in the world of romance and revolutionized the way people found partners. Web sites now abound for straight, gay, Jewish, Christian, disabled or millionaire daters, but figures show a large chunk of those looking for love in cyberspace are disillusioned.
"So many people have had nightmare experiences with people misrepresenting themselves," said Christie Nightingale, principal of New York-based Premier Match. Nightingale said about 80 percent of her clients had tried online dating before coming to her with horror stories.
"Online daters, disappointed by potential partners lying about their age, weight or marital status, are turning to professional matchmakers to find love." - Disillusioned online daters turn to matchmakers, Reuters - November 1, 2006
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Increase their odds of meeting someone
(Source: PR Newswire - September 24 2004)
Today's singles are taking more proactive steps to improve their dating lives. According to a recent study of 3,968 singles, 48% of men and 52% of women have used a dating service to increase their odds of meeting someone.
How important is money? The study found that women do care how much money their partner makes. 88% of women said that money is very important in a relationship. On the other hand, 46% of men say it doesn't matter how much money their partner makes. Both sexes agree on one thing: 63% of men and 67% of women believe that a relationship is more important than a career.
Do dating and politics go together? 65% of men and 60% of women don't talk politics until after the third date. Denver men are different -- 53% of men in Denver will talk politics on the first date.
How far will singles go to be attractive? Singles, particularly men, are taking proactive steps to improve their dating lives. 63% of men have joined a gym to increase their odds of meeting someone. 37% of women joined a gym and 36% have gone on a diet to improve their dating life. Only 3% of women have resorted to plastic surgery to attract that someone special.
When does a couple become exclusive? 70% of men and 82% of women agree that a couple is not in an exclusive relationship unless it is has been discussed by both parties; however, 21% of men believe that this occurs in fewer than four dates.
Are people judgmental on first dates? Apparently, men are quick to judge. 68% of men will not go on a second date if there was no chemistry. Women are more willing to give it a second chance. 56% of women will go on a second date and hope that the chemistry improves.
How soon do dating couples introduce each other to their parents? Men bring their dates home to mom earlier. On average, 47% of men will introduce a date to the family after five dates. Women are more cautious -- 74% of women will wait until after at least 10 dates.
How soon do dating couples introduce each other to their friends? Men are quick to introduce a date to their friends. 73% of men, but only 11% of women, said they would introduce a date to their friends in less than four dates. On average, 48% of women will wait until the seventh date to introduce a date to their friends.
There are currently over 110 million singles in the United States. The dating industry is estimated at nearly $1.5 billion and is growing at 25% annually.
