Premium domain strategy a winner for Minds + Machines

Internet top-level domain operator Minds + Machines Group updated the market on its China operations on Tuesday, confirming that since the release of its 2017 “premium” inventory for the country in late June, it had achieved premium sales of more than $3.4m.

The AIM-traded firm added that $2.8m of that had closed in the last 10 days.

“We are building a strong, long-term, annuity based business with each of our regions now contributing well to the renewal revenue mix,” said CEO Toby Hall.

“The exceptional renewal rates achieved in China in H1 are, in no small part, a direct result of the premium pricing policies introduced at the launch of the .vip TLD.

“The significant interest we are now experiencing in our 2017 premium inventory allocation follows our recent Beijing approval and, we believe, lays down further foundations for strong recurring revenues in subsequent years from the region.”

Hall said the latest sales also meant the company was making “excellent progress” towards achieving management's top-line billing targets for China for the current year, with more than 60% of its 2017 China premium allocation now sold in recent weeks.

“These sales, along with the launch of .boston in October, will however further accentuate the H2 weighted nature of our business as we now enter the main renewal seasons for our leading properties in Europe and the US.”

Outside of China, the Minds + Machines board said it was “encouraged” by the interest now being shown in its premium inventory in the UK and US following the introduction of its revised premium pricing policies earlier this year.

The company said it would be announcing its unaudited interim results for the six months ended 30 June on 26 September.