Size online dating industry Livenudecams
On the Monday after Valentine's Day, sees a 15% increase in communication activity on its site.
In the days leading up to Valentine's Day, Ok Cupid, which is also part of Match Group (MTCH), sees a 15% increase in new sign-ups.
By Mary-Lynn Cesar Online dating is going mainstream. Young adults are leading the surge in online dating, with usage among 18- to 24-year-olds almost tripling since Pew's 2013 online dating study.
This week - just in time for Valentine's Day - the Pew Research Center released a new study on online dating and found that 15% of American adults have used online dating sites and/or mobile dating apps, up from 11% in 2013. Call it the Tinder factor: 22% of young adults have used a mobile dating app, compared to just 5% just two years earlier.
If you visit a product and there aren’t that many people to see, the likelihood of you coming back is going to decrease rapidly.
EOk Cupid's chief product officer Jimena Almendares agrees.
In fact, from the day after Christmas to the day after Valentine's Day, Match sees a 60% increase in new member registrations.
Mobile app Hinge also has its "high season" from Christmas to Valentine's Day, and then, CEO Justin Mc Leod says, "it falls off right after Valentine's Day."new report from the Pew Research Center this month, usage of online-dating sites or apps by 18- to 24-year-olds has tripled since 2013.
At that time, the bubbly market was just beginning to explode, and it was friendlier to small new entrants.
And the rapid growth in online dating is as much about money as it is love.
Aaron Smith, author of the report, told NPR that mobile apps' appeal lies in their simplicity and "game-ified way of engaging with other people." Crafting snappy blurbs and swiping right or left are a lot easier and less time-consuming than writing a painstakingly detailed profile for a traditional dating site like Ok Cupid.
"I think the market is more difficult now for small apps, because you need liquidity," she tells Yahoo Finance.
"It’s like a social network, you need to have people using it to get more people to use it.
But young people aren't the only ones in pursuit of the digital get down. S., the industry generates approximately $2 billion in revenue each year and expanded at an annual rate of 5% between 20.