Rightmove, which recently increased its charges to some agents by a reported 17 per cent, is set to reveal its latest trading position at the end of this month.
Shareholders will be given the results for the six months ended June 30 2023 at 7am on Friday July 28.
The key figure to watch, for Rightmove as for all portals, is the Average Revenue Per Advertiser.
Early this year, when it released full year figures for 2022, Rightmove recorded an 11 per cent leap in ARPA to a cool £1,314.
By way of contrast, ARPA for OnTheMarket - which produced figures yesterday for its latest financial year - was up 12 per cent to just £210.
Rightmove’s total agency and new homes membership was just over 19,000 at the start of this year; there is expected to be only small variations on this when the latest figures are released.
This month’s trading statement for the number one portal will be the first under the new Rightmove chief executive Johan Svanström.
The Swede has a CV of multiple jobs in well known businesses including Hotels,com, Expedia and McDonald’s, where he led several successful major projects within the company’s Digital Innovation Group, having previously held management positions in telecommunications and internet start-ups.
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One day agents will grow a pair, promote their own company and ditch this lot. Remember the rightmove lockdown back-track?
Blockbuster or Netflix ... can a model that is a quarter of a century old endure in the true digital agent - unlikely and pivoting digital adverts for agents/property professionals is going to be a real mountain to climb. Yes the public like sheep go on Rightmove, but not so long ago they used to ring taxis, now the Uber Ap is on most smartphones, the way 'we' do things change, and as Boris says 'the herd moved' - and he was looking the other way when it did.
You can keep squeezing users, but when a better alternative comes, well wiki the Blockbuster story and see how that ended, they just kept sending out videos by mail, not understanding the business had changed, Netflix utilised AI and ML and addressed the new marketplace, in a new way.
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