Global consumer spending on dating apps hit $505 million in January

data.ai revealed that the global consumer spending on dating apps in January of this year surpassed all previous records, reaching $505 million. This notable milestone represents a 6.6% increase from the monthly average of Q4 2023, contrasting with the 2.9% growth observed between Q4 2022 and January 2023. 

Although the year-over-year growth stands solid at around 8%, it falls short of the exceptional 17% surge experienced between January 2022 and January 2023, marked by a surge in consumer spending in key markets like the UK, Canada, and Australia.

Shifting the focus to dating app downloads, the trend remains consistent as January 2024 outperformed all previous January totals. With a year-over-year increase of 1.9%, downloads reached a staggering 128 million. Consumers, fueled by the spirit of the new year, leverage this month for personal change, including a reentry into the dating scene after the holiday season.

According to data.ai’s analysis, loyalty prevails among users of the top three US dating apps, maintaining their market share from January 2023. Simultaneously, other apps vie for the elusive fourth position in this highly competitive market. With 28 apps contributing over $1 million in consumer spending in January 2024 alone, app developers find opportunities to target specific niche segments within the dating population, presenting alternatives to the dominating platforms. 

Noteworthy examples include Grindr, serving the LGBTQ community, and BLK, catering to the Black community, providing users with diverse experiences.

Tinder, the leader in spending in the US, retained its position last month with a 29.3% market share, closely followed by Bumble at 14.3% and Hinge at 9.5%, their market shares experiencing minimal fluctuations. Among the remaining top apps, Grindr demonstrated the most significant year-over-year improvement, escalating from 4.2% in January 2023 to 5.6% last month, marking a substantial 1.4 percentage point increase.

Despite fluctuations in engagement levels within the top dating apps, the encouraging download figures and associated growth signify the resilience of this dynamic industry. Equally compelling are the strategic measures taken by dating app publishers to boost brand loyalty. These efforts range from the introduction of innovative features to the establishment of their own clothing lines, underscoring the industry’s commitment to staying ahead of the curve in the realm of online romance.