Domain market penetration jumps to 88pc

Domain market penetration jumps to 88pc

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Domain Group has grown its revenues by more than 25 per cent and registered almost 1,600 new agencies.

The group’s revenues reached $94.5 million for the six months to 31 December 2014. That represented a 27.2 per cent increase on the year before.

The print share of those revenues rose 1.6 per cent to $22.1 million, while digital jumped 37.8 per cent to $72.4 million.

Subscriber numbers across Domain’s products of, ReviewProperty and Allhomes increased 20 per cent to more than 9,650.

Those 1,592 extra subscribers helped Domain increase its market penetration from 78 to 88 per cent.

NSW market penetration remained steady at 100 per cent, while ACT jumped from 56 to 100 per cent due to the acquisition of Allhomes in October 2014.

Tasmania rose from 77 to 98 per cent, South Australia from 76 to 91 per cent, Western Australia from 74 to 88 per cent, Queensland from 61 to 76 per cent, Victoria from 71 to 72 per cent and the Northern Territory from 26 to 66 per cent.

Traffic numbers across the Domain websites climbed 19.4 per cent to 20.3 million.

The traditional sites grew their numbers by 1.1 per cent to 9.2 million, while mobile and app traffic jumped 40.5 per cent to 11.1 million.

That means Domain’s mobile products now provide 54.7 per cent of traffic – up from 46.5 per cent the year before.

Mobile app downloads grew 37 per cent to 3.2 million, which Domain attributed to an early and significant investment in mobile technology.

The group said that achieving full market penetration would allow Domain to exploit its strengths in mobile apps and content.

Greg Hywood, who is chief executive of Domain’s parent company, Fairfax Media, said Domain is expanding its national presence.

“The agent ownership model, successfully pioneered in Victoria by Metro Media Publishing Holdings, continues to roll out nationally, and is expected to gain significant traction over the next 12 months as we deepen our relationships with agents around the country,” he said.

“The success of the Victorian model has been closely observed by agents nationally, and many are keen to embrace this structure.”

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