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“Given that they’re mining huge amounts of data about consumer behavior and individual identity, it makes business sense to harness the algorithms for matchmaking—especially given that Tinder and other dating platforms already use Facebook as their screening tool.But Facebook faces the same unenviable task as every other dating site.The number of 55 to 65-year-olds dating online has doubled from 6% in 2013 to 12% in 2017, it found.Still, online dating is still much more common in younger generations, with the share of 18 to -24-year-olds using online dating services nearly tripling from 10% to 27% in that time.Online dating websites, chat rooms, social media platforms, user groups, and even Craigslist are all places in which people can connect with one another and chat.In many cases, people choose to keep these relationships strictly online.“For instance, I use my Facebook profile primarily to build my professional visibility. Consumers may be put off Facebook extending its ecosystem into yet another part of people’s social lives, in the same way Amazon has done with e-commerce.
It’s not clear, however, whether Facebook will charge for the dating service and, if so, how much. (charged .95 per month when it launched in 1995.) Today, dating sites can charge between and per month, depending on the length of the subscription.“If they’ve already been using Facebook and feel comfortable with the format, this will be an easy transition for someone reentering the dating market.” This is an increasingly lucrative market.Online dating is growing in popularity for people in their 50s and older, according to the Pew Research Center.“This is going to be for building real, long-term relationships, not just hook-ups.” The company is entering a crowded space: The dating industry is worth around billion, with revenue split between advertising and subscription services, up revenue up around 5% per year, according to a report by research firm IBISWorld. But it has one big advantage: More than 2 billion members around the world.As dating pools go, they don’t get much bigger than that.