YooMedia is to launch a free online dating website, LetsDateForFree.com, in response to what it describes as a need for a new business model for networking sites.
The company, which already owns dating websites Dateline and Avenues, said the website was inspired by the growth in popularity of MySpace and Facebox, which promote their services free of charge. YooMedia said it planned to derive its revenue entirely from advertising.
Neil MacDonald, group managing director of YooMedia, said: "Social networking sites, which by their nature offer a kind of informal online dating service, which has redefined the business model for these services.
"The nature of the dating industry is changing. Traditional dating sites will find it increasingly difficult to justify charging for basic online dating. These sites simply have to go free and offer more community services in order to compete."
MacDonald added that there was still high revenue potential in more specialised sites, where users are more prepared to pay for a tailored service fitting their needs.
YooMedia also said that it planned to reposition Dateline as a premium subscription service for people looking for long-term partners.
The company said that Dateline One-to-One will now offer users more assurance and security for serious dating, by adding psychometric tests and improved profiling accuracy to the website's services.
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