FriendFinder Says It's at Forefront of Growing Dating Biz
SUNNYVALE, Calif. — FriendFinder Networks Inc. says it might be poised to benefit from continued acceptance of social media connections.
The publisher of Penthouse and scores of social networks, including AdultFriendFinder, released data today forecasting the online dating market to exceed $2.5 billion by 2015.
According to the study, dating website growth is expected to be 7.2 percent annually with key drivers that include geographic and mobile application expansion.
"This acceptance rate, proved by the increasing scope of the online dating market, lends itself to big players like FriendFinder Networks and allows for further expansion and penetration in this industry," FriendFinder said in a release Wednesday.
FriendFinder said the research report was conducted by Marketdata Enterprises, a Tampa, Florida market research publisher, which has tracked the dating service market since 1998.
"The Marketdata study confirms what we have known for some time — online dating presents a tremendous opportunity for FriendFinder Networks," FriendFinder CEO Marc Bell said.
"FriendFinder Networks operates more than 40,000 sites, catering to more than 528 million registrants. This robust platform provides us with tremendous coverage and exposure to a strong and growing market."
Bell cited some of his strongest divisions as examples, including AsiaFriendFinder.com, which is the largest online dating personals site targeted towards Asians with more than 34 million members since inception and Amigos.com, which averages 75,000 new members each month.
"Targeted sites based on geography and interests are key drivers that will help propel FriendFinder Networks to further industry leadership," said Bell, who noted that the company has rolled out the All FriendFinder App, available on iPhone, Android and other smartphones.
Separately, FriendFinder on Tuesday said that its problems with Nasdaq compliance rules are now behind them because its market worth has been in excess of $15 million for the past 10 consecutive business days.
FriendFinder was threatened with delisting but the company has now regained compliance with Nasdaq listing rules, the company said.