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TODAY'S OTHER NEWS

Rightmove's new ad emphasises portal's market dominance

Rightmove is launching a new advertising campaign featuring animated animals as it looks to raise awareness of its online property credentials. 

The marketing publication The Drum reports that Rightmove’s TV advertisements are the latest part of the portal's 'Find Your Happy' campaign and highlights what it calls independent data suggesting that users are now five times more likely to find their next home on Rightmove. 

“The creative [ad] uses the metaphor of a giant tree filled with homes and creatures to help communicate the fact that the wesbite has more listings than rival property portals” explains The Drum.

It quotes Paul O’Neill - founding partner at Homebrew, the marketing agency behind the campaign - as saying: “This spot aims to drive home that Rightmove is now overwhelmingly the site of choice.”

Last month Rightmove announced that its customer numbers had hit a record high of 19,590 and its revenue has grown by 16 per cent to £93.1m. 

It claimed its share of traffic amongst portals had increased to 82 per cent with visits up 17 per cent to a record 110m visits per month, and pages up 13 per cent to a record 1.5 billion per month. 

The portal says that on the back of this record traffic, agents and developers received a record 25m enquiries from home hunters, with data showing that Rightmove is “by far the largest source of buyer, seller, tenant and landlord opportunities for them.”

  • icon

    82% of portal traffic !

    I wonder whether the CMA - who recently fined some local agents & newspapers for anti-competitive practices - are going to investigate Rightmove's dominant position ?

  • Simon Shinerock

    But it's not their fault! Now that's something I haven't thought of, a Cartel resulting in their main rival being broken up as a monopoly! Method in the madness after all; perhaps not....

  • Rob  Davies

    @ Peter Green - which anti-competitive measures have RM introduced? Oh, that's right, they haven't. Unless they've secretly implemented a one other portal rule in the last few weeks, they certainly can't be accused of anything.

    It's OTM, and their ideologically driven attempts to look out for themselves and not their customers, who have made RM the dominant portal. They shouldn't be investigated because they haven't done anything wrong.

    You can be anxious about the duopoly turning into a monopoly in the portal market, but we have our friends at OTM to thank for that, too.

  • icon

    Hi Rob
    In the "old days" a monopoly used to be considered present if a company had between 20% to 25% of market share. My point above was not that RM have done anything wrong, but that they have a dominant (monopolistic) position with 82% of portal traffic (as they say). As a consequence they are able to exert undue (price) pressure on their customers.

    Totally agree with you re OTM. Their strategy of "one other portal only" was dead in the water from the word go. The only "people" who were going to suffer were Zoopla and, as you say, it has lead to an increase in the dominance of RM.

  • Algarve  Investor

    I agree, Peter. As we've seen with trains, supermarkets, utility companies and even search engines, monopolies are very rarely a good thing and often see the customer losing out in the long-term.

    However, I also agree with Rob that OTM have shot themselves in the foot slightly by pursuing Zoopla so aggressively. Zoopla, whether people like to hear it or not, were the only realistic challengers to RM. They've been more affected by the arrival of OTM, whereas RM have carried on like nothing's happened.

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