THE GUARDIAN - Oct 29 - Match.com operating profits plunged by 80% to £1.6M in the year to 31 December. Turnover was also down more than 10% at £38.2M as apps such as Tinder changed the nature of online dating. "The industry is in a bit of a crusher," said Mark Brooks, analyst at consultancy Courtland Brooks. "The mobile medium has come of age and over 70% of Internet daters in the UK are just using their smartphones. It's an amazing transition that has truly roiled the dating industry. If Match is suffering, their competitors are suffering more."
"Smartphone growth is an opportunity more than a challenge," continues Brooks. "Laggard dating companies that have not created compelling mobile experiences are dying. Most old school incumbents have stumbled in this respect." Research firm Mintel predicts that despite the current upheaval the UK online dating industry will grow from £165M to £225M by 2019.
by Zoe Wood & Sarah Butler
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Summarized by the Courtland Brooks team
