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The online dating industry

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22 years old

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About

Online Dating Market Could Grow to $12 Billion

Consequently, it is no surprise that the business is booming with the many thousands of apps and websites available. In fact, the dating sector is now one of the fastest evolving industries on the planet and with record numbers of singles turning to the Internet to find every kind of relationship imaginable, there shows no signs of it slowing down. Young adults are leading the surge in online dating, with the greatest usage among 18—year-olds. A study has revealed that 55—year-olds are also flocking to online dating in increasingly greater numbers. In the U. The sector is expected to maintain continuous growth, with a study by Statista predicting a global annual revenue growth rate of 3. Dating sites have been troubled by issues of profile authenticity since the beginning. The once-great Match. Existing apps including major names like Tinder and Bumble create little incentive for honesty, instead rewarding those whose profiles look the most visually appealing and not the most transparent nor the most trustworthy. Across all platforms, it is thought that 1 in every 10 profiles is a fake or fraudulent user.

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Reading Support The Online Dating segment is expected to show a revenue growth of 9. Reading Support In the Online Dating segment, the number of users is expected to amount to Reading Support User penetration in the Online Dating segment is at 3. Reading Support In the year a share of The Users by age box shows the age distribution of users of the selected market market segment, region in age groups. The data is based on Statista's Global Consumer Survey.

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There is no national trade association to police ethics and marketing practices. The Internet and dating reality TV shows The Millionaire Matchmaker, The Bachelor, and others have brought these services into the mainstream and taken the stigma out of the profession. There appears to be a service and price point for every type of lonely single person, in every age group. Online dating has its share of challenges. Unauthorized recurrent billing is another issue. In addition, there have been database breaches such as the Ashley Madison site and a call for more background checks and for more protection of personal information.

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The Business of Dating — Start-ups are thinking big to change the industry

Nomura says it's worried about Facebook's foray into dating either, and says Match keeps competition at bay by buying out competitors, like its Hinge acquisition this summer. It all comes down to peoples' increasing willingness to try out online dating, Mark Kelley, an analyst with Nomura Instinet, said in an note to clients Friday. That acquisition is reflective of Match's overall strategy, Kelley says, of buying out competitors before they reach meaningful scale that could potentially eat into Match's user base.

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