Domain reports 12% drop in revenue for beginning of FY20 as ‘challenging market’ continues
The 2020 financial year has gotten off to a slow start at Domain, with the real estate media business reporting a 12% drop in revenue and an 8% fall in digital revenue. The decreases are an improvement from the final quarter of FY2019 when total revenues fell 17% and digital 11%.
Again, a complicated and challenging property market is being blamed for the subdued figures, with new market listings down 14% nationally. The platform is reporting a focus on dropping its total costs by around 10% across the first half of the new financial year in a bid to offset the shy market.
A soft property market is still hurting Domain with a 12% drop in revenues reported for the beginning of FY20
A 12% revenue fall is an improvement. A 30% fall in print is streamlining. Huh?????
This business is collapsing at a rapid rate.
To which the question: if Domain turns out to be a soufflé, where is the beef in fairfax? Or did nine buy a mirage?
12% revenue fall vs 17% last quarter is an indication of a slowing decline in a continually difficult market, which is indeed an improvement.
Print is the area that would most benefit from streamlining, i.e. there’s an untapped opportunity to manage this fall in print revenue.
Domain is still a strong brand, with untapped opportunity. It may not jsut be a ‘number 2’ in market for Nine.
Jason finding out what it is like to be a publisher running programmatic rather than Google?
I’d hate to be their new National Sales Director, coincidentally arriving from SpotX (video ad-serving platform) back in July this year. All sounds like Domain is lacking an experienced, publisher sales strategy.