If this is your first time reading the Forward Ventures Newsletter, read our 1-minute primer on we think the sex industry is set for growth.
It’s a tough time for startups, investors are planning to invest less, deals are falling apart and layoffs are piling up. Sex, of course, is resilient, and a number of sextech startups are seeing growth and seizing the opportunity through the pandemic. According to sifted, a publication which covers the EU startup landscape, the region's sextech industry is worth $30B. Sex apps which offer a mix of education and erotics, report increases in downloads and usage, one such app Emjoy, reported a 45% increase in downloads and a 165% increase in usage. Beducated, a sexual education app, reports an increase across metrics, with an overall 189% increase in usage. Amorona an online sex toy store is reporting a 79% sales increase, and Hanx, a vegan condom brand, is seeing a 117% sales increase.
As we reported in last week’s newsletter, one sex tech category, internet connected sex toys, are finally having their moment. But, according to a report from Mashable, now is the worst time to buy one. Mashable’s pre-pandemic testing found that most of these toys have all sorts of functional and connectivity issues, and with internet speeds in cities across Europe and North America slowing down these smart toys are even more prone to issues.
Every business is struggling to adapt to current Covid impacted conditions. Some are thriving while others have been forced to shutter altogether. As detailed in this letter and prior editions, the porn industry is experiencing tremendous growth, with customers taking advantage of free access to back catalogs or signing up for homemade ‘cam’ sites. But one major porn studio, Vixen Media Group, isn’t satisfied with the shift to lower quality or recycled old content, instead they’re adapting by setting their performers up with high quality studio equipment in their homes. Vixen will be providing their top stars with $250,000 worth of equipment which includes cameras, ring lights, toys, and lingerie.
The company says it intends to “showcase models' beauty through content that stands above the rest and we remain committed to these values as the day-to-day operations of our production team shifts.” Vixen is demonstrating the importance of sticking to your brand fundamentals, they have differentiated themselves through quality and face the risk of getting lost among their competitors if they sacrificed this differentiator through the pandemic. By spending big they’re counting on continuing the relationship with their customers through the lockdowns, coming out stronger on the other side.
We’ve talked incessantly about the rise in pornography consumption during Covid-19, but focused less on why. Sure, there are the obvious reasons of having more time on one's hands, or having no other sexual outlet but Joshua B. Grubbs is an assistant professor of psychology from Bowling Green State University, provides a few more psychological reasons on why we turn to to in this time. Professor Grubbs and his colleagues found that higher pornography use is associated with high levels of psychological distress as well as higher levels of extreme boredom. The researchers reason that pornography, and the accompanying act of masturbation, provide a temporary relief from these issues.
Is using pornography to cope a bad thing? That really depends on an individuals relationship to porn, according to Robert Weiss, a clinician who specialized in sex and pornography. Dr. Weiss compares pornography to alcohol, where a moderate use with limits is common and not really an issue for most, while over consumption can be tragic and deadly. Over use of pornography can lead to relationship issues, sexual disfunction, social withdrawal and more. There is no doubt that technology has drastically exacerbated this problem, and idle, stressful time like the one we’re in may make people even more vulnerable.
More, More, More:
What It's Like to Be a Phone Sex Worker in the Time of COVID-19