Online dating demographic market
In the US, regulation began with the International Marriage Broker Regulation Act (IMBRA) in 2005.
…whilst addressing regulatory challenges Regulators across the world have sought to regulate dating services, as they try to protect the growing number of individuals that use them.
Mainstream sites such as e Harmony and Match.com, alone, have 20 million and 17 million worldwide users respectively.
The CEO of Tinder, Sean Rad, has proudly said that their app has already generated 45 million matches (not couples).
However, certain mainstream sites also offer app-based products.
It has become increasingly common for individuals to find their partners online, a trend which started around 1997.
Back then, not everyone acknowledged the benefits of this activity, which was perceived as a rather impersonal way of finding love.
Why struggle to find someone special in a crowded bar when you can do it more easily and effectively from the comfort of your own home?
The industry has grown exponentially in many Western countries.
It remains to be seen whether regulators start to take steps to implement new regulation specifically directed at online dating sites.
However, government intervention currently seems less likely, because the industry has been proactive through developing a set of rules that online dating providers (who are members of the ODA) must adhere to.
A study by online dating website e Harmony has found that more than half of their users already use smartphones to access the service.