Over the past few years, online dating platforms skyrocketed in popularity, with millions of people across the globe trying their luck with dating and matchmaking apps. But besides growing their user bases immensely, these platforms have also grossed impressive revenue.
According to data presented by OnlyAccounts.io, online dating platforms have grossed a whopping $13.2bn in the last five years.
Global Spending on Online Dating Hit Almost $3B in 2023, 70% more than Five Years Ago
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 rising. In 2021, at the peak of the COVID-19 pandemic, online platforms grossed a whopping $2.78bn, showing an impressive 20% 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% year-over-year and hit $2.98bn in 2023 or 70% more than five years ago. Around 45% 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 follow with $286 million and $192 million in revenue.
Statista expects global online dating revenue to grow by CAGR of 3.23% in the next four years, resulting in a projected market volume of $3.4bn by 2027.
Over 140 million People Started Online Dating in Five Years, Total User Count to Hit 438M by 2027
The Statista Market Insights also showed roughly 140 million people started online dating in the past five years, pushing the total user count from 241.9 million in 2018 to 381.5 million in 2023. More than 80% of all users or 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.
