Other research suggests that more than a third of married couples now meet online. The unmarried population stands at 47 percent, up from 42 percent in 1994, according to the Census Bureau.
The average dating site customer spends just 9 a year for online memberships, which more than pays for itself to the tune of ,803 in cost savings from fewer dates," the report said.
IAC previously spun off travel service Expedia in 2005.
Launched in April 1995, is now in 24 countries and hosts websites in 15 languages.
Leading the pack is Match.com, owned by IAC/Inter Active Corp, the Internet holding company controlled by billionaire Barry Diller.
Analysts say is best positioned to capitalize on the surge, so much so that Topeka has increased the value of the company's stock to from and recommends investors purchase shares of IAC in anticipation of a spinoff.
Match also owns the dating app Tinder—one of the fastest-growing apps in the market—and the company hasn't even begun to monetize it yet. Another factor boosting the online dating trend is cost: It's simply a much cheaper way of getting a date.