During the September quarter earnings call, News Corp CEO Robert Thomson has singled out realtor.com stating they are “particularly pleased with the momentum at realtor.com,” and claiming that they are now the world’s largest digital listings company when taking into account their Australian operations.
Thomson says realtor.com is “significantly ahead of schedule on key metrics” and that with the real estate market in America “returning to health,” they are optimistic about the future of the brand they acquired just days short of a year ago.
During the September quarter, Move saw a 33 percent increase in revenue to $85M from $64M last year. Compare that to Zillow’s 13 percent increase reported earlier this week.
Thomson said, “Move saw continued strength in its Connection for Co-Brokerage product and non-listing Media revenues, coupled with market share gains for its Top Producer software product.”
Move’s average monthly unique visitors rose 43 percent year-over-year to 46 million, driven by a 64 percent increase in mobile traffic. Thomson notes that there was not only an increase of quantity of traffic, but that it is “high quality traffic.”
Thomson says their focus going forward is on listing accuracy and lead generation, noting that the ecosystem of News Corp, which includes news outlets like Wall Street Journal and Fox News among others, all provides leads to each other.
Move is expected to continue improving and end the year positively, and ramp up in fiscal year 2017. Thomson remains confident in News Corp’s digital and global expansion and is “particularly pleased [with their] digital real estate business.”