Online Personals Watch: News on the Online Dating Industry and Business

Millenials and Gen Z Splurging on Love Are Accumulating 'Dating Debt'

SCROLL - The average American spends $120K on dating over their lifetime. As a result, according to a survey by LendingTree, 22% of millennials and 19% of Gen Z have begun to incur "dating debt". Another study by Credit Karma found that 29% of people aged 18-34 have accrued debt for a date, with 21% exceeding $500 in dating debt in a year. Reasons include accidental overspending (29%), an attempt to impress dates (28%) and seeking intimacy (19%). But another survey by Finder also reveals that 44% of Gen Zs consider debt a romantic deal-breaker when considering a partner.

by Omar H Fares & Seung Hwan Lee
See full article at Scroll.in

Bumble Buzzes Into the $2 Billion Club

CAMPAIGN ASIA - Bumble has crossed the $2B mark in global user spending, making it the second dating app after Tinder to reach this milestone. The achievement comes nine years after its launch in 2014. Most of Bumble's revenue is driven by subscriptions, and it's currently the second most downloaded dating app worldwide, trailing behind Tinder and Hinge, but ahead of Happn and Badoo. The app has over 50 million users in 150 countries as of January 2023.

by Rahat Kapur
See full article at Campaign Asia

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Housing Crisis Influencing Modern Dating Dynamics

THE GUARDIAN - The ongoing housing crisis is significantly impacting the dynamics of modern dating, according to numerous reports. Some have suggested this could lead to a return of a "Jane Austen-style marriage market," where relationships are formed primarily based on financial and housing security. Data from a 2022 SpareRoom survey found that a quarter of respondents would consider moving in with a partner earlier than planned to save money, while the lack of affordable housing is keeping some couples together even after their relationship has ended.

by Barbara Speed
See full article at The Guardian

Resilience and Growth: The Global Matchmaking Market's Post-Pandemic Recovery

WEBWIRE - A new report by Marketdata LLC titled "The International Matchmaking Market: Finding Love, For A Price" reveals the resilience and expected growth of the global matchmaking market despite the challenges of the pandemic. Estimated to be worth $1.2 to $1.5B globally, the industry experienced a sharp decline of 25% in 2020 but has since rebounded. Notably, 73% of matchmakers switched to virtual client meetings during the pandemic. The report also projects an average annual growth of 3.8% in global matchmaking market revenues from 2023 to 2027. The industry has adapted to a mix of in-person and virtual services, with more matchmakers entering the profession and offering dating coaching among other services. The largest markets for matchmaking services are in the USA, China, Japan, and South Korea.

See full article at Webwire

Dating at 50+: Older Americans' Experiences With Online Dating

PEW RESEARCH - A Pew Research Center survey has found that 17% of Americans aged 50+ have engaged with dating websites or apps, showing no significant change since 2019. While the use of these platforms is similar across age groups, only 3% of this older demographic are current users compared to 15% of those under 50. Older adults' preferred platforms differ from their younger counterparts, with older users more likely to use Match and less likely to use Tinder. Notably, older men are more likely to opt for paid features on dating sites. However, online dating experiences for older adults can often be negative, with older women reporting more negative experiences than men. Nearly half of all online daters over 50 have encountered suspected scams.

by Olivia Sidoti & Michelle Faverio
See full article at Pew Research

Study: Many on Dating Apps Are Already in Relationships

NBC NEWS - According to a recent study, half of 1400 surveyed Tinder users aren't interested in finding dates, and nearly two-thirds of them are already in relationships. The study highlights that dating apps are often used for entertainment and social connection rather than genuine romantic meetups. But the study reports a silver lining: People who use dating apps for their intended purposes are still most likely to achieve satisfaction - even if getting there requires wading through all the matches whose goals don't align.

by Angela Yang
See full article at NBC News

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Half of Male Online Daters Happy to Match With Single Moms

THE MIRAGE - A recent survey conducted by eharmony found that 52% of surveyed men would pursue a relationship with someone who has children. 61% of female online daters perceive single fathers positively, believing them to be more committed to a relationship. 63% of single parents believe it would be easier to date someone who also has children. Additionally, 70% of single parents expect their new partner to act as a role model for their children. The findings suggest that having children does not deter online daters.

See full article at The Mirage

See the top news on eharmony

Bumble Launches New Kindness Campaign With Actor Adam DiMarco

LIONHEARTV - Bumble has launched a global campaign titled Kindness is Sexy featuring new content with actor Adam DiMarco. According to Bumble's latest consumer survey, a majority (84%) of respondents around the world agree that being kind is more important than physical attributes in a potential partner, with honesty (67%) and empathy (62%) being the top two defining characteristics of kindness in a relationship. To highlight that kindness matters on Bumble, the app recently rolled out Compliments, a message before match feature that allows Bumble's community to be even more intentional about starting the conversation in a positive way.

See full article at Lionheartv

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Dating App Users Lose Millions to Pig Butchering Scam

IT-ONLINE - The "pig butchering" scam, which originated in China, has led to Americans losing ~$112M in cryptocurrency. The scam primarily targets users on dating apps. Scammers build romantic connections with their victims over weeks or months, and then start discussing their affluent lifestyle due to an investment app. Eventually, they offer investment advice and recommend a specific trading platform, encouraging the victim to invest. Initially, victims see returns, but as they invest larger amounts, the scammer starts demanding huge fees for withdrawal and then disappears with the victim's money. Despite awareness of such scams being high, many still fall prey.

See full article at IT-Online

Millennials Prioritize Sex More Than Gen Z Does, Survey Says

MASHABLE - eharmony's Dating Diaries report, based on a survey of ~2K people, highlights generational differences between millennials and Gen Z in attitudes towards sex and dating. The report shows that 91% of millennials in relationships have sex at least once a week, compared to 78% of Gen Z. However, Gen Z is more sexually explorative and is more likely to have unprotected sex. Millennials prioritize sexual chemistry, while Gen Z values emotional connection before engaging in sex. Gen Z is also more likely to use dating apps and social media for meeting partners and learning new things for sexual experiences, but 48% report experiencing dating app fatigue.

by Anna Iovine
See full article at Mashable

See the top news on eharmony

Half of Lesbian, Gay and Bisexual Adults Have Used Online Dating

PEW RESEARCH CENTER - A 2022 Pew Research survey reveals that 51% of lesbian, gay, and bisexual adults have used online dating, compared to 28% of straight adults. Younger LGB adults are more likely to use online dating than their older counterparts. Popular apps among LGB users include Tinder, HER, and Grindr. Experiences are mixed, with 61% reporting positive experiences, but many also encountering negative behaviors such as unsolicited explicit messages. Opinions are divided on the overall impact of online dating on relationships within the LGB community.

by Risa Gelles-Watnick
See full article at Pew Research Center

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Two-thirds of Brits Say Financial and Sexual Compatibility Are Equally Important in Dating

DAILY STAR - A survey of 2K British adults revealed that financial health and stability are highly valued traits in potential partners, with 38% of participants stating they are likely to be more attracted to someone who prioritizes their financial stability. 65% believe financial compatibility is as important as sexual compatibility in a relationship. Good financial health ranked higher than good looks, being in good shape, marriage, and starting a family. Additionally, 6% would like to see credit scores included in dating profiles, as 25% consider a bad credit score a turn-off.

by Sarah Lumley
See full article at Daily Star

Survey Finds Majority of Singles (83%) Turned off by AI Use in Dating Profiles

PR NEWSWIRE - FFWD (Fast-Forward) Dating, a new app currently in beta, introduces in-app video profiles to combat the frustration singles experience with the inauthenticity of traditional dating profiles. According to a survey conducted for FFWD, 78% of singles feel that photos and text in dating profiles don't accurately represent a person's personality, and 83% are turned off by the use of AI in profiles. The FFWD Dating Survey was conducted by Wakefield Research.

See full article at PR Newswire

Americans to Spend $2.5B on Dating Apps in 2023

APN NEWS - In 2023, Americans are expected to spend ~$2.5B on dating apps, more than the combined spending of Chinese, Japanese, and Britons, according to Statista. The global online dating market is projected to generate $7.8B in revenue with about 570M users this year, 30% of which is expected to originate from the United States. The Statista data show around 16% of all dating app users in the US prefer Tinder, the number-one app in the market. Bumble ranked second with a 14% share. Hinge and MeetMe follow, with a 10% share each.

See full article APN News

28% of Consumers Look for Love on Dating Apps in Early 2023

PYMNTS - Spring and summer are prime dating seasons, and like other human behaviors, the pandemic has increased consumer reliance on digital tools to find that special someone. According to the PYMNTS study "ConnectedEconomy™ Monthly Report: The Love and Social Media Edition", 28% of US consumers, or ~73M people used dating apps in March. That's a 21% increase from the same month last year. 12% of men use dating apps and sites daily, versus 7.5% of women. Generation Z consumers and millennials also account for a disproportionate number of the consumers who use dating apps and sites. In total, 55% of Gen Z and 50% of millennials use some type of dating app or site. Dating apps were downloaded more than 60M times last year in the U.S., with Tinder, Bumble and Hinge representing 60% of those downloads in any given month, on average. Plenty of Fish, MeetMe, Tagged, Grindr, Badoo and Wink make up the tail end of the online dating market.

See full article at PYMTS