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Others, however, predict that revenue is expected to grow 25% by 2020. According to the Pew Research Center, between 20, online dating usage has tripled among those between the ages of 18 and 24.

Beyond its existing users, dating services benefit from tailwinds such as an untapped market, increasing millennial spending power, young people delaying life milestones such as marriage and home purchasing, as well as working longer hours.

Some might even say that they “work to provide a stream of warm bodies as fast as possible.” Each app has its own competitive advantage or spin on the dating game: With its monthly subscription fee, attracts people willing to put their money where their mouth is.

On the opposite end of the “casual to serious” dating spectrum, Tinder pairs potential hookups based on a mere glance and swipe of a photograph, is easy to use, and is user-friendly, generating 1.2 billion profile views and 15 million matches a day.

Dating apps are essentially another form of social media, where a product’s value often hinges on how many people are on it and using it.

New sites may have difficulty garnering more users, and, according to Ok Cupid’s chief product officer Jimena Almendares, “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.

From 2013 to 2015, the share of 55- to 64-year olds has doubled from 6% to 12%.

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According to Market Watch, online dating has become the most popular form of dating for homosexuals, and the second most popular way to meet partners for heterosexuals (after meeting through friends).

Around 15% of US adults, or around 50 million Americans, say that they have or continue to use websites or mobile dating apps in their pursuit of romance.

While these numbers are promising, it’s interesting to note that some sources indicate that revenue growth for the industry is projected to slow through 2022.

S., the industry’s biggest players, and how these products actually make money (if they even do!

) According to research firm IBISWorld, dating services in the US will be a billion a year business in 2018, growing since the previous year.

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