FriendFinder Networks at Forefront of Estimated $2.14 Billion Dating Services Market
New Independent Research Study Affirms Rapid Growth of Online Dating Industry
Mobile Applications, Geographic Expansion and Niche Sites Key Drivers of Growth
SUNNYVALE, Calif., Feb. 15, 2012 /PRNewswire/ -- FriendFinder Networks Inc. (NasdaqGM: FFN), a leading internet and technology company providing services in the rapidly expanding markets of social networking, social commerce and web-based video sharing, today is pleased to share market research that affirms the scope of the online dating industry and forecasts the market to exceed $2.5 billion by 2015. 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. Already considered one of the most significant participants in online dating, with properties that include FriendFinder.com, PerfectMatch.com, AsiaFriendFinder.com, SeniorFriendFinder.com, AdultFriendFinder.com, Amigos.com and BigChurch.com, FriendFinder Networks operates more than 40,000 sites, catering to over 528 million registrants. This robust platform provides us with tremendous coverage and exposure to a strong and growing market," commented Marc Bell , President and CEO of FriendFinder Networks.
Mr. Bell continued, "While all of our sites benefit from a shared technological and operational platform, our focused approach on multiple demographics provides users with an intimate experience focused on the interests, beliefs, and values that are most important to them. This individualistic approach has allowed FriendFinder Networks to continue to penetrate different areas of the market and establish ourselves as the leader in social networking and dating websites."
According to the study, dating website growth is expected to be 7.2% annually with key drivers that include geographic and mobile application expansion. FriendFinder Networks is well positioned to address the specific areas driving growth. For example, AsiaFriendFinder.com is the largest online dating personals site targeted towards Asians with over 34,000,000 members since inception, while Amigos.com is averaging over 75,000 new members each month as users from Brazil and other Latin American countries embrace online dating resources. Targeted sites based on geography and interests are key drivers that will help propel FriendFinder Networks to further industry leadership.
In addition, the explosion of smartphone technology has made mobile applications a key component of online dating. The All FriendFinder App, available on iPhone, Android and other smartphones offers users of any of our sites a way to keep in touch on the go and manage their dating life from the palm of their hand.
While the largest social networking site, Facebook, has gained current publicity because of the recent IPO announcement, FriendFinder Networks is poised to benefit from the continued acceptance of social media connections. 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.
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.
Additional information concerning these and other risk factors is contained in the Company's most recent filings with the SEC. All subsequent written and oral forward-looking statements concerning the Company are expressly qualified in their entirety by the cautionary statements above and subject to such risk factors discussed in the Company's recent SEC filings. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based.
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of the Company's securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
ABOUT FRIENDFINDER NETWORKS INC.
FriendFinder Networks Inc. (www.ffn.com) is an internet-based social networking and technology company operating several of the most heavily visited websites in the world, including AdultFriendFinder.com, Amigos.com, AsiaFriendFinder.com, Cams.com, FriendFinder.com, BigChurch.com and SeniorFriendFinder.com, and social commerce company operating JigoCity websites in more than five countries, providing members high quality, daily deals that are relevant to their individual lifestyles. FriendFinder Networks Inc. also produces and distributes original pictorial and video content and engages in brand licensing.
Investor Contact for FriendFinder Networks Inc.
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SOURCE FriendFinder Networks Inc.
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