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Revenue gains averaged 2.9% per year to reach .0 billion in 2013, with consumers increasingly turning to the internet to meet prospective dates.“Industry firms that provide subscription-based membership, however, faced revenue declines during 2009 due to declining per capita disposable income levels during the recession,” explains IBISWorld industry analyst Caitlin Moldvay.
In addition to product expansion, as consumer demand for online dating and matchmaking services has grown, new companies have entered the industry, says Moldvay.
The Dating Services industry will continue to benefit from rising demand; however, revenue is expected to decelerate over the five years to 2023.
Companies in this industry provide services facilitating clients meeting one another, usually with the intent of pursuing romantic relationships.
IBISWorld estimates that the number of companies in the Dating Services industry increased at an average annual rate of 3.1% to 3,898 in the five years to 2013.
Employment expanded as well, rising at an average rate of 3.1% per year to an estimated 7,376 employees in 2013.