Rightmove brings in traffic with 'See More' ads, but loses advertisers

LONDON - Rightmove, the property search website, has seen revenues slump by 11% in the six months ended 30 June 2009 as advertisers pulled away from the site.

Revenue fell 11% to £33.6m, down from £37.8m during the same period in 2008.

The number of advertisers on the site fell 13% year on year to 16,874, but average spend per advertiser was up 1% at £305 per month. Income from Rightmove Choice products, its advertising services above and beyond standard property listings, and email campaigns, increased by 11% to £4.1m.

However, page impressions on Rightmove websites increased by 3% to 3.2bn.

The company said its ‘See More' TV campaign, which features a woman running into different houses in an attempt to see as many houses as possible, helped boost its business.

Ed Williams, group managing director, said the company had weathered weak housing market conditions. ‘Rightmove's biggest challenge and opportunity is now to increase our customers' spend with us whether on our existing product set or new products we will be introducing as the housing market recovers.'


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