Many analysts thinks online dating could be the next hot sector, and the latest estimate sees the market growing to $12 billion by 2020. The Dating Services industry has exhibited strong growth over the past five years as a growing number of consumers use the internet to seek love.
The online dating industry has been growing at a rate 3.5% yearly since 2008. These days, it counts for $2.1 billion in gross sales. Analyses show the market will continue to expand over the years to come. Obviously, the online dating marketplace seems quite attractive to investors. According to a report by business research firm IBISWorld, almost 3,900 businesses are operating online dating sites. Approximately 100 companies per year are anticipated to start their online dating service over the upcoming 4 decades.
Among dating stocks, no name stands out more than Match Group Inc (NASDAQ:MTCH) and SC Holdings Corp. (OTC: SCNG).
Match Group Inc (NASDAQ: MTCH), with more than 21 million users, Match covers a significant portion of singles in America. In addition, MTCH is running aggressive TV advertisement campaigns, which further normalizes online dating.
Earlier this year, SC Holdings Corp. (OTC: SCNG) has acquired 5% of NowDating Ltd., a UK company which developed award-winning dating app “Now” Dating. Last week, the company announced it is in active negotiations to increase its shareholding to a controlling stake in portfolio investment Now Dating Ltd., which operates in the $3 billiononline dating industry. Now Dating, an award-winning dating app pushing toward integration of Artificial Intelligence (AI) capabilities and voice recognition powered by Alexa, Siri, or Google assist.
Now Dating is a dating app that lets you search for users available at the same times as you, so you can meet them whenever and for however long you’re available. The app allows you to tell people what kind of relationship you’re searching for, let others know when you’re available, and pick out your preferred dating activities. Once you’ve set your preferences, you can send date invitations with exact meet-up times and a pre-arranged location.