Minds + Machines Group Limited (LSE:MMX), released some interesting information in a press release we received overnight.
Premium Names accounts for approximately 3%. of Minds + Machines new gTLD registrations, but accounts for 25% of its revenue.
Minds + Machines also announced that they “hold a significant inventory of Premium Names across its gTLD portfolio and sees significant opportunities for recurring annual revenues in this area”.
It is not clear from the PR whether the owned and operated Premium Names are part of the 3% registration figure for Premium Domain registrations.
Chief Financial Officer Michael Salazar told Proactive Investor that “the second half (of 2015) will also see the first renewals of (Minds + Machines) gTLDs launched last year, which should give a good indication whether these new domains – the bits after the final dot in a web address – are going to catch on or not.”
Mr. Salazar also said that “he has seen some early data on renewals of the new domains from competitor Donuts, and they are running at between 50% and 75% on the standard names; the renewal rates on the premium names are, as one might expect, much higher. Salazar expects Minds + Machines renewal rate to be “in the same ball park” as Donuts”.
Minds + Machines also announced the recent appointment of Trent Tucker who was running the sales department of another new gTLD Registry Rightside.
Shares of Minds + Machines rose today over 3% today to 8.38p.