For immediate release: 07.00 7 June 2017
Minds + Machines Group Limited
("MMX" or the "Company")
Portfolio Update: .vip
Minds + Machines Group Limited (AIM: MMX), one of the world's leading owners and operators of Internet Top-Level Domains ("gTLDs"), is pleased to announce that first year renewal rates for its .vip domain in China will be significantly ahead of those typically seen by new generic top-level domains in the region based on the manual renewals already processed on the first month of .vip registrations.
First year renewal rates are an important internal benchmark for the Company. To date, actual deletions for the first 31 days of registrations for .vip from China are currently less than 1%, with manually confirmed renewals for the same period already at over 60%, with the remainder being placed on auto-renew by registrars on behalf of their customers.
Whilst not all of those placed on auto-renew will be renewed, MMX expects the overall renewal rate for the first month of .vip registrations, which will be published in late July, to place .vip in-line with the best-in-class renewal rates of leading western facing top-level domains (i.e. c. 70% and above).
Toby Hall, CEO of MMX, commented,
"The .vip renewal rates from China, which have not been reliant on aggressive discounting tactics, are testament to the inherent value of the .vip extension and hard work of our retail partners.
"This bodes well for our Chinese premium revenues in H2 as we begin releasing our 2017 .vip premium inventory for the first time to the broader market in Q3, traditionally the main domain investment season in the region, on the back of .vip's exceptionally strong renewal profile."
MMX is currently progressing a further eight extensions through the MIIT (Chinese regulator) approval process for potential future release in China.
For further information:
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014 .
Minds + Machines Group Limited (LSE: MMX) is the owner and operator of a world class portfolio of top-level domain assets (gTLDs). As a sales and marketing-led registry business, we are focused on commercializing our portfolio in partnership with our expanding global network of distribution partners.
The MMX portfolio is currently focused around geographic domains (e.g. .london, .boston, .miami, .bayern), professional occupations (e.g. .law, .abogado, and .dds), consumer interests (e.g. .fashion, .wedding, .vip), lifestyle (e.g. .fit, .surf, .yoga), outdoor activities (e.g..fishing, .garden, .horse) and generic names such as .work and .casa. As a business, we work through our expanding international network of registrars and distribution partners to bring the benefits of affinity based domain addresses to B2B and consumer audiences. For more information on MMX, please visit www.mmx.co
This information is provided by RNS