In the Media: Online Personal Sites Growth Rates
My *eMAIL to eMATE* readers got to see my rant about the media coverage of the slowdown of growth of the Internet dating market in the February 1, 2005 issue. Though the growth rate has slowed, that’s from the phenomenal rates of 73% in 2002 and 77% in 2003. No business that is built on a finite number of consumers (American singles) can grow indefinitely, and Internet dating is no different. And Internet dating is different than most business like hamburgers, because once the consumer actually accomplishes what the product is selling (finds love!), then they drop out of the market. Once a consumer is hooked on Big Macs, you’ve got them for life. Match.com, one of the two biggest sites (YahooPersonals the other), estimates that 200,000 people per year drop off their roles after having met the person they were hoping for.
So the still very good growth rate in 2004 of 19% (I’d be happy with that return!) probably represents a reasonable pace for the super-charged dating market of post September 11. Nothing to sniff at, for sure: revenues hit $473 million in 2004. By comparison, during the first half of 2001, the industry grossed only $22.6 million.
Interestingly, fewer users are browsing online personals (down 33%), but revenues continue to go up. What’s the story? I suspect that the casual and the curious are getting bored and moving on to the next new thing, while those seriously looking for a partner are getting more serious, signing up and paying their dues. Dating sites are now trying harder to court those folks. Yahoo has started Personals Premier. At $35 per month, they are aiming for the dedicated.
Frankly, I can’t see how this slowing is bad news: If indeed the “players” are dropping out, well, fine. That leaves those of us who know what we want and are using the best vehicle to come around next (the Net) to find our Sweetheart. Yea!
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Posted by ksks on 09/17 at 03:58 PM