It’s fair to say we’ve carried out a lot of research on our target market – gay men. We wanted to share all the statistics and data we’ve collated and gathered together in the build up to launching The Omyx Club.
How many gay men are there?
The first statistic we explored was our target market of gay men and just how many of them there are in the UK. We used ONS (Office of National Statistics) government data from 2010 which stated that roughly 1.5% of the population in the UK identified as Lesbian, Gay or Bisexual. That percentage equates to roughly 725,000 individuals. Now if we remove women from this statistic (who equate to 45.5%) that leaves us with roughly 396,000 gay or bisexual men in the UK.
We’re fairly confident that there are considerably more gay and bisexual men in the UK. Bear in mind that this is only the number who have said they are. All the other statistics out there indicate a far higher number of gay men. Gaydar itself announced, shortly after these statistics were released, that they have more than 2.2 million members in the UK alone. This statistic alone suggests that around 3.5% of the UK population are either gay, bisexual or bi-curious men… and these are only the people who’ve actually signed up on Gaydar!
Other studies suggest that in the western world there are between 3-4% of the population who identify as LGBT (Lesbian, Gay, Bisexual or Transgender). This means that around 9 million adults in the United States identify this way. However, in some US cities the population identifying as LGBT is as high as 15%. San Francisco is one of the highest LGBT identifying populations. So, all in all, it’s a sizeable market.
What does the age breakdown look like?
Unsurprisingly, in 2015’s ONS data, 3.3% of individuals between the age of 16-24 identified as gay, lesbian or bisexual, compared with just 0.6% of individuals aged 65+. The single biggest contributing factor to the vast difference in sexual orientation by age is likely to be the rapid rate in which LGBT diversity and equality has changed in the recent years. Given than, until 1967, homosexual sexual activity was illegal in the UK, it’s unsurprising that the divide is so great. Additional factors such as popular culture’s promotion of gay characters in TV shows and films has, undoubtedly, helped younger generations become naturally more comfortable about their sexuality and gender, from a very early age.
How about LGBT wealth and income?
This is a lot harder to gauge. However, there are several available statistics out there on this. In 2013 Experian Marketing released a report which suggested that in the US, the household income of a gay married/partnered household was $115,500 per annum, compared with a straight married/partnered household of $102,100. Looking at the individual earnings income, heterosexual men average $60,000 per annum, compared with gay men who take home slightly more on average, at $60,800. Gay men also have the highest discretionary spending per capita.