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"It tells me that, though [the online dating industry] may be saturated there still is opportunity."In Canada, online and mobile dating revenue is approximately 2.7 million, just a fraction of what it is in the U. To put that size in context, estimated Canadian revenue for Netflix was 7.8 million in 2016, according to the Canadian Media Concentration Research Project.

Croxon and the other founders of Lavalife sold the company in 2004 for 6 million."In hindsight it was the right time because the market was already getting very busy," Croxon said.

It is one of the biggest dating sites with over 90 million registered users across the globe. is one of the biggest dating services in the world.

It launched in 1995 and is now available in 24 different countries.

Companies have targeted niche communities and different religious, ethnic and age groups with apps such as Christian Mingle, JDate, Farmers Only, Grindr, and Silver Singles. S., revenue — while still expected to increase — is forecast to grow more slowly over the next five years. S., larger players are expected to continue acquiring smaller ones, potentially shrinking the number of companies, according to IBISWorld.

Match Group, the largest company by market share in both Canada and the U.

But as the popular sites become even more well-established, it's becoming more challenging for newer websites and apps to join in."It's a sign of a very mature market," said Bruce Croxon, a former panelist on CBC's Dragons' Den, but also one of the co-founders of Lavalife.

Lavalife launched in 1988 using the hot, new technology of the time: voicemail.

Still, its well-known brands have been part of the Canadian landscape for years. Chris Bennett worked in downtown Toronto, but he used to live outside of the city.Still, he's hopeful."You do see from the reaction from people when you tell them about this product…they like the idea and they join up," Darling said.According to IBISWorld, the number of companies in the dating services industry in Canada is expected to continue to expand, by 3.5 per cent this year and three per cent the following year.As the stigma around online dating has faded, it's also become a highly competitive — and crowded — industry.

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