Minds + Machines Group Limited (LON:MMX), one of the world’s leading owners and operators of internet generic Top-Level Domains (gTLDs) has reported “significant continued operational progress” across a number of business activities, including the marketing of .vip into Japan.
In a pre-close season update, MMX said that, having successfully launched the .vip domain into the Chinese market in May 2015, it currently has over 586,000 registrations making it a leading gTLD in China as well as one of the top 10 new gTLD's worldwide.
MMX's chief executive, Toby Hall told Proactive Investors in an interview that the group is targeting 1 mln .vip registrations by the end of 2017.
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Following .vip's success in China, the company is now looking to target other territories within Asia and announced that Japan's leading registrar group, GMO, has commenced marketing .vip into Japan.
In his interview, Hall mentioned India as an area with strong digital prospects, and other emerging Asian regions.
The group pointed out that GMO accounts for approximately 90% of gTLD registrations in the Japanese market and “is an important strategic partner for the company.” Alongside .vip, MMX said GMO is also marketing .work, another gTLD in the mmx portfolio.
Given the interest received by mmx from certain new distribution partners in South East Asia and India for certain TLDs within its portfolio, the company is additionally reviewing its options for extending its retail distribution footprint more widely into these regions.
The firm said it is targeting global registrations of .vip to surpass one million by the end of 2017.
China auctions …
MMX also announced that, within China, it is participating directly in the auctions of .vip premium names currently being held by eName, one of the leading registrars in the country.
It said that, within the first five days of the auction, gross sales of .vip premium inventory released by mmx has reached approximately US$160,000.
The company said China currently accounts for over 46% of new gTLDs and remains a growing and important market.
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In the US, MMX said it continues to strengthen its distribution and sales channels team with the appointment of a highly experienced new business development director who will focus on further monetisation of the group's premium inventory across its portfolio of TLDs in North America.
The appointment follows the company's announcement of a revised premium inventory renewal pricing policy to the industry in January this year.
Separately, MMX said, .boston is scheduled to be released for 'general availability' in September 2017.
MMX also announced that terms have been signed with a distribution partner which the group believes should “lead to a material increase of registrations in two of the Company's geographic gTLDs over the next twelve months.”
Positive progress …
In the statement, Hall said: “Following the positive progress of 2016 reported in January, I'm delighted that the momentum has continued into 2017.”
He added: “Significant progress is being made on a range of initiatives that should deliver meaningful standard name registration growth and awareness across a number of our TLDs in 2017, as well as premium inventory sales which typically benefits the profile of our top-line billings.
“We are well placed for further future growth and, with operating expenses under control, we look forward to the rest of 2017 and 2018 with confidence."
MMX will announce its results for the year ended 31 December 2016 on April 25.