PHOTO: The online marketplace wants agents and vendors to ditch print in favour of digital. Photo: Trade Me website
Trade Me chief executive Jon Macdonald isn’t fazed by NZME’s foray into online real estate listings and sees scope to convince more agents and vendors to ditch print in favour of digital.
The country’s biggest online marketplace generates about 58 percent of its revenue from classified advertising, the domain that was once the cornerstone of newspaper publishers. Property listings revenue grew 23 percent in the six months ended Dec. 31, on a 7.7 percent lift in listing volumes.
The Wellington-based company largely competes in the online space with Real Estate Institute-owned realestate.co.nz for property listings, although both are scooping up advertising spend from newspapers.
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