4 Nov 2014 07:00
For immediate release
4 November 2014
Minds + Machines Group Limited
("MMX", the "Company" or "Group")
Portfolio Update
Minds + Machines Group Limited (AIM:MMX), the publicly quoted owner and operator of Internet top-level domains, is pleased to provide an update on its top-level domain launches.
Domain roll-out
Update on existing top-level domains
During this September, ten domains within MMX's portfolio were launched - .bayern, .beer, .cooking, .country, .fishing, .horse, .london, .rodeo, .surf and .vodka - representing less than a third of the current portfolio of uncontested domains in which Minds + Machines has an interest.
The Directors are highly satisfied with the overall progress of these launches, particularly from a revenue perspective. When measured on a .com equivalent cost basis, registrations within Minds + Machines portfolio of launched gTLDs in which it has an interest is currently in excess of 495,000 .com equivalent registrations (the number of names the .com registry would need to sell to achieve equivalent revenue).
The Directors are also pleased that, while some new top-level domains have achieved large numbers of registrations through the practice of aggressive discounting, those operated by Minds + Machines are achieving their success at full price. The Board is also greatly encouraged by the uptake of names in .beer, where enthusiastic adoption by the North American craft brewers demonstrates how niche marketing to a specific sector can monetise a domain in a highly cost-efficient manner. The Directors note that close-knit communities of interest exist for many of the Company's top-level domains, and that adoption rates will be influenced by endorsement of key influencers within those communities and, therefore the Company will continue to push into specific sectors over the coming months.
The Directors further note that most ICANN-accredited registrars - the only approved distribution channel for new top-level domains - continue to confront challenges posed by the number, variety and time-frames of ICANN's new top-level domain roll-out program. Some forward-thinking registrars, including Minds + Machines wholly owned registrar, are however now marketing directly to the niche verticals represented by many top-level domains, and others are engaging in co-marketing with the Company. The Directors are encouraged by these and other signs of progress being made by registrars and look forward to a more predictable and robust distribution channel.
Next launches
The Board of Minds + Machines is additionally pleased to confirm the Sunrise and General Availability launch time-table for its next four top-level domains, .casa, .work, .yoga and .nrw.
Domain | General Availability | Sunrise Start | Sunrise End |
.casa | Feb 10, 2015 | Nov 5, 2014 | Jan 5, 2014 |
.work | Feb 10, 2015 | Nov 5, 2014 | Jan 5, 2014 |
.yoga | Feb 17, 2015 | Nov 5, 2014 | Jan 5, 2014 |
.nrw | February 2015 | Early December 2014 | Early February 2015 |
The Company expects then to be launching new domains on a regular basis throughout 2015 as the delegation process completes for each of the uncontested domains in which it has an interest.
Separately, the Company reports that it has also recently introduced its Minds + Machines Protected List (MPML) which allows trademark holders to block registration of their trademarks across all of Minds + Machines' wholly owned top-level domains, both current and future. Further details of this initiative can be viewed on http://mm-registry.com/mpml-faq/.
Auction Update
The Company continues to participate in private auctions for contested domains and the Board expects to provide a further update shortly.
Fred Krueger, executive Chairman of Minds + Machines, commented:
"In terms of public awareness, ICANN's new gTLD Program is still at exceptionally early stages. As a result, we are highly pleased both by the recurring revenues now being secured by those domains in our portfolio that have entered General Availability, and our on-going ability to best monetise, or secure exclusive rights to, those of our applications that are currently contested.
"As the top level domain landscape evolves, we believe the focus will increasingly be on those registries and registrars that can best help consumers and businesses activate and use their web domains in the same seamless way that we all use "apps" today. We are confident Minds + Machines will be at the forefront on this next wave of evolution in the top level domain space."
Further Information:
Minds + Machines Group Limited
Antony Van Couvering Tel: +1 310 452-1491
Beaumont Cornish Limited (Nomad) Tel: +44(0)20 7628 3396
Roland Cornish / Michael Cornish
N+1 Singer (Broker)
Shaun Dobson/Ben Wright Tel: +44 (0)20 7496 3000
gth media relations
Toby Hall Tel: +44(0)20 7822 7493 / +44 7713 341072
For further information, please go to www.mindsandmachines.com/investors
About Minds + Machines Group Limited
Minds + Machines Group Limited is a publicly traded holding company listed on the AIM market of the London Stock Exchange focused on the new top-level domain space. Top-level domains, such as .com and .net, are regulated by ICANN. ICANN is currently expanding the number of new generic top-level domains from the previous 23 to over 1000 through its 'new gTLD program'. The Company is one of the leading applicants for new gTLDs under this programme.
About Minds + Machines'Registry and Registrar operations
Minds + Machines' registry operations are provided through its wholly-owned registry services provider, Minds + Machines Limited (Ireland), which works internationally to secure and operate new top-level domains (TLDs). In addition, the Group wholly owns Minds + Machines LLC and Minds and Machines Registrar UK Limited, both being registrar businesses through which the public can buy addresses in new and existing top-level domains.
ENDS