MMX Sells Over $3.4m in Premium .VIP Domains Since late June in China

mmxco-logoSince late June, Minds + Machines (MMX) have sold over $3.4 million in premium .vip domain names, of which approximately $2.8million has closed in the 10 days to 12 September, and mostly to Chinese domain investors.

MMX is expecting a solid second half of 2017 in addition to the .vip sales. The .boston new generic top level domain (gTLD) which they provide registry services for launches in October and they’re entering the main renewal seasons for their leading new gTLDs.

MMX has 27 new gTLDs in their portfolio with 1.085 million domain names under management. The largest is .vip with 762,300 registrations followed by .work (107,500), .london (74,500), and .bayern (31,700). For all but their .country, backend registry services are provided by Nominet.

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

“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.

“These latest sales also mean we are making excellent progress towards achieving management’s top-line billing targets for China for the current year, with more than 60% of our 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.”