As the social stigma about online dating vanishes, industry-wide profits are soaring.
Sounds like cupid is doing quite bit better than OK.
The online dating and matchmaking industry grew 2.3 percent between 2008 and 2011, with 2.8 percent more growth expected annually through 2016, according to IBISWorld. The number of people employed in the field is expected to increase from 15,606 in 2011 to nearly 17,000 by 2016.
The growth is fueled by a high profit margin, a low (but increasing) barrier to entry and a falling social stigma against meeting your mate online. In fact, recent studies commissioned by online dating sites show that as many as 30 percent of newly married couples first met through the click of a mouse.
By the Numbers:
Annual profit percentage, on average, for an online dating company, according to IBISWorld
Number of online dating and matchmaking enterprises in the United States in 2011
Number of enterprises expected to exist in 2016
Number of people expected to be employed in the field in 2016
Projected annual revenue increase for the online dating and matchmaking industry from 2011 through 1016