NEW YORK (TheStreet) -- Thanksgiving, a day in the U.S. for filling up on comfort foods and expressing appreciation for the best things in your life, is also the start of a particularly special time of year. True, the day marks the start of the holidays, but Thanksgiving also kicks off proposal season.
About 40% of couples getting married next year will have had the question popped between Thanksgiving and Valentine's Day, "It's the most wonderful time of the year," XO Group (XOXO) CEO Michael Steib said on "Bloomberg Markets: Americas" on Monday morning.
XO Group runs the personal wedding planning site The Knot, a one-stop shop where couples with no experience planning a wedding can find everything the need for their big day.
About 72% of XO Group's revenue is from Internet and media, BloombergTV's Vonnie Quinn pointed out as she questioned the CEO.
"It's primarily advertising and commissions that we collect for helping people book services and products that they need," Steib said. "See, what happens when you get engaged is that a couple who's never done it before is asked to become professional event planners for a year of their life."
During that year a couple could spend about $30,000 on the event. Weddings are a $100 billion industry.
"Most folks don't know what to do next. They come to us at The Knot, they download our app, and we take them step-by-step through the wedding planning process," Steib continued.