Owing to the easy way of connecting interested persons with potential partners, the growing popularity of Tinder and other online dating platforms has earned them $13.2 billion in the last five years according to data by OnlyAccounts.io.
Most popular dating platforms are OkCupid, Zoosk, Tinder, EliteSingles, Bumble, Eharmony, Badoo, eharmony, Plenty of Fish, Coffee Meets Bagel, Happn, Ashley Madison, SiverSingles, Jdate, Facebook Dating, The League, Hily, InternationalCupid, Raya, MillionaireMatch, and Pure.
In 2023 alone, global spending on online dating is expected to hit $3 billion, 70 percent more than five years ago.
Their popularity has skyrocketed over the past few years, attracting millions of people across the globe to try their luck with dating and matchmaking apps. But besides growing their user base immensely, these platforms have also grossed impressive revenue.
Online dating apps have made it easier than ever for people to connect with potential partners, which has been the biggest driver of their impressive user and revenue growth in the past years.
According to Statista Market Insights, in 2018, the entire market generated $1.76bn in revenue. By the end of 2020,this figure jumped to $2.33bn and continued to rise. In 2021, at the peak of the COVID-19 pandemic, online platforms grossed a whopping $2.78bn, showing an impressive 20 percent growth year-over-year. Although 2022 and 2023 saw much lower growth rates, the entire market continues growing, driven by technological advancements and changing attitudes toward online dating.
Statista expects annual revenue in the online dating industry to grow by 5 percent year-over-year and hit $2.98bn in 2023 or 70 percent more than five years ago. Around 45 percent of that value, or $1.35bn, comes from the United States, the world’s largest online dating market. Far below, China and the United Kingdom followed with $286 million and $192 million in revenue.
Statista expects global online dating revenue to grow at a CAGR of 3.23 percent in the next four years, resulting in a projected market volume of $3.4bn by 2027.
The Statista Market Insights also showed roughly 140 million people started online dating in the past five years, pushingthe total user count from 241.9 million in 2018 to 381.5 million in 2023. More than 80 percent of all users, roughly 310 million, use non-paying online dating apps and platforms, while 72 million choose to pay for online dating apps.
Statista expects another 27 million people to try their luck with online dating platforms in the next two years, with the total number of users reaching 408.7 million. By 2027, the global online dating industry is expected to hit 438 million users worldwide.
