The Pandemic Boost for matchmaking & dating services
The lockdown has taken a mental toll, diminishing our human connections and psychologically changing us all. The social and dating lives of the young demography had been the most impacted, making them more distant and lonely as individuals during this period. But with every crisis, comes an opportunity to solve problems and make them profitable. TV Shows, Dating and Matrimonial apps have sensed the pulse and took strategic decisions for their portfolios.
One of the most interesting growths that I have found was for the TV show The Indian Matching. Originally, the producer had pitched the show to Netflix and got rejected as they were concerned that the glossy cosmopolitan Indian drama would not perform well. But seeing how the general demographic sentiment had changed, Netflix decided to release it in July as people were getting used to the new normal and adjusting themselves in a socially distant environment.
The show instantly became a hit because Millennials could relate to it well. During the lockdown, almost every household had started marriage preparations cause of joblessness and people started giving in as there was nothing exciting enough for them to do during this pandemic. Netflix did a brilliant influencer marketing strategy by using internet personalities to react to the scenes and having them interview the cast for their controversial roles.
During this period, online dating applications were expected to see a hit due to the risks of getting infections. But these companies have found a ~20% increase in the user base and gained around 1.5M daily users collectively. Dating apps even made their way to Tier 2 & 3 cities as mindsets and perceptions drastically changed.
Looking at matrimonial apps, Matrimony.com was at a critical low during April and the stocks shot up by 250% by 2021. They sensed the market direction and took steps to capitalize on the opportunity. They increased their marketing expenses by 33% and improved their revenue growth by 7% bringing an overall increase to billing by 13.5% YoY.
After all, Vibing with the Demographic pulse worked well indeed.