Month: February 2024
Great Online Dating Profiles Emphasize Knowing the Other Person
FORBES – A study in the Journal of Experimental Social Psychology shows that the best online dating profiles are those that show a person wants to really get to know their partner. People like to feel understood and supported in relationships. Profiles that talk about wanting to understand and support a future partner are more liked than those just talking about oneself.
Major Campaign to Fight Fraud Launched in the UK
GOV.UK – The "Stop! Think Fraud" national campaign, launched on Feb 12, 2024 by the Home Office and supported by counter-fraud experts, aims to combat fraud, which accounts for 40% of crime in England and Wales. The campaign introduces an online hub offering clear anti-fraud advice and support for victims. Key supporters include Match Group, alongside other major stakeholders, underlining the collaborative effort to address the UK's most prevalent crime.
Dating App Score Is Matching Users Through Credit Scores
FINANCIAL TIMES – Score is a new dating app launching in the US that matches users based on their credit scores. To join, individuals must pass an Equifax credit check, with only scores above 675 accepted. The app doesn't display exact credit scores but ensures all users meet this financial criterion. Rejected applicants receive tips to improve their credit. Score aims to promote financial stability as a key factor in dating, reflecting a trend among younger generations who value financial responsibility in potential partners.
Dating App Fees Can Quickly Add Up But Many Are Willing to Pay the Price
CBS NEWS – Research from Morgan Stanley found that ~32% of single people in the U.S. use online dating, and just over a quarter of them pay. The average paying user spends $18 – $19 a month on either subscriptions or à la carte purchases, according to the study. Some dating coaches who help people refine what they're looking for in a partner encourage their clients to upgrade to pricier dating app subscriptions. Some people who pay for premium dating services say the upgrades are worth it, while also wishing the free offerings were improved.
Elite Matchmaking Claims 33% Success Rate
BNN BREAKING – Selective Search, founded by Barbie Adler, has a 33% success rate for matching clients on their first try. Clients pay $75K to $500K for services that use 225 factors to find compatible partners, focusing on deep connections and personal values. Adler emphasizes self-reflection and clarity on what's non-negotiable in a partner, advising flexibility on less crucial aspects.
Online Dating’s Growth Dilemma: Balancing Profits and User Experience
OBSERVER – With ~300M people using dating apps around the world, the online dating business is expected to reach $14.42B in revenue by 2030. While publicly traded dating apps have lagged behind the Dow Jones and S&P 500 indexes over the past few years and investors are reluctant to bet on this category, the largest dating app companies perform fairly well financially. Match has seen its revenue and profit grow in recent years but faced a 5% drop in paying users YOY, attributed to Tinder's 50% price increase. In response, Match introduces weekly subscriptions to appeal to Gen Z's. Analyst Ygal Arounian highlighted the companies' challenge: "Both Match and Bumble are trying to convert free users to paying users, but they need to maintain the quality of the experience while being careful about putting too many things behind a paywall and hurting the experience."
by Maddie Whitaker
See full article at Observer
See the top news on Match Group
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Facts About Marriage and Dating in the U.S.
PEW RESEARCH – 69% of Americans are in committed relationships (51% married, 11% living with a partner, 8% in a committed relationship). A quarter of U.S. 40-year-olds have never married, a record high, with significant proportions among Black Americans, men, and those without a four-year college degree. Only 23% of Americans see marriage as essential for a fulfilling life, with job satisfaction and having close friends valued higher. 30% of U.S. adults have used dating sites or apps, with higher rates among adults under 30 and lesbian, gay, or bisexual adults. 44% use these platforms seeking long-term partners, and 10% of partnered adults met their significant other online.
The Quest to Outsmart Dating App Algorithms
Announcing LTR Edition 29 With Alex Tam (CEO of Paktor) and Violet Lim (CEO & Co-Founder of Lunch Actually Group)
OPW – Edition 29 of the LTR (Love, Tech, Relationships) online experience will be on Wed, Feb 21st at 11AM EST (New York time). In this edition Alex Tam, CEO of Paktor, SE Asia's leading dating company, will present "Beyond the Swipes: Declining Marriage Aspirations and the Future of Paktor." Then Violet Lim, CEO & Co-Founder of Lunch Actually Group, which is SE Asia's leading matchmaking company, will present "Sustaining a Matchmaking Business in 6 Countries."
We have a half-hour of networking on virtual tables, followed by 50 mins of presentations and another short networking session. 1.5 hours all-in.
If you hold a full-time leadership role at an Internet dating company, then you are welcome to join IDEA for free and welcome to join LTR events for free.
See the LTR Edition 29 speakers and invite page here.
Email mark@courtlandbrooks.com to RSVP.
This LTR is kindly sponsored by ParshipMeet Group, RealMe, along with Courtland Brooks and Matchmaker.com.