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8 Cards in this Set
- Front
- Back
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Online Dating #1
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Online Dating:
• As of January 1st, 2014, 41,250,000 in the U.S have tried online dating services. • $1,249,000,000 a year • Important because of media coverage • Advertisers are using this platform as a main source of revenue |
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Online Dating #2
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Top Players:
• OkCupid, E harmony, PlentyofFish, Match.com, and ChristianMingle • They are popular because they target specific markets. For example: The business model for a website like E Harmony targets audiences in their 30s and up, while a website like OkCupid mainly targets audiences in their 20s. |
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Online Dating #3
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Market Concentration:
• While different websites focus on different areas of the market, online dating itself is an international business. |
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Online Dating #4
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Business Model:
• Various Business models (Ex: OkCupid) • First, their site is free, which attracts a larger demographic of individuals • Unique algorithms and messaging platforms– this is different from other dating websites • Gives users more incentive to pay higher prices for better match percentages |
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Online Dating #4 Part 2
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• Subscription vs. Non Subscription
• The revenue from OkCupid comes from a combination of advertising and special features payments • For $10 a month, a user can pay to have better search options, and have the ads disappear |
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Online Dating #4 Part 3
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• In 2010, OkCupid’s revenue was at over $4.7 million
• Because of increase in popularity, the revenue is probably much higher now • Expenses for the company are low because: -algorithms are already set in place -the users do most of the work themselves [Video: Start@ .28 End@1:26] |
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Online Dating #5
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Barriers of Entry:
• Subscription vs. Non-Subscrition- Websites must compete with each other • Not always accessible for people with different identities. Example: EHarmony recently received backlash for not providing services for people in the LGBTQ community. • Even OkCupid, though progressive, does not offer options for gender queer or trans individuals |
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Online Dating #6
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Successes/ Trends:
• More popular because of app compatibility (not just websites) + advertised on television, talked about in media • Younger demographics help spread popularity + the unique algorithms make dating success seem more possible • Not just for dating: People are using it as another way to network for their careers |
