OTMP.L Regulatory News (OTMP)

None of the information contained in this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014, nor does it contain any information that is required to be announced via a Regulatory Information Service under the AIM Rules for Companies.

06 February 2020

Record traffic and leads for OnTheMarket in January

OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com property portal, announces today that traffic to its portal in January 2020 exceeded 30 million visits1, a new monthly record, an increase of more than 28% compared with January 2019 and 11% more than the previous record of 27.2 million in September 2019.

This performance helped to deliver a record number of leads for OnTheMarket's estate agent, letting agent and new homes developer customers2 - a 52% increase in the total number of phone and email leads compared with January 2019. Average leads per advertiser rose 35% to 126, up from 93 in January 2019.

As an indicator of the level of engagement of property-seeking users of the portal, OnTheMarket sent in excess of 140 million instant property alerts in January 2020.

Ian Springett, Chief Executive Officer of OnTheMarket, said: "Our strong January performance provides powerful further evidence that our growth strategy is working and engagement is building amongst both property-seekers and agents. Our brand proposition and our multi-channel marketing investment have proven effective in attracting active property-seekers to the portal. Many of our agent shareholders and customers are choosing to list their properties on a 'New & exclusive' basis, 24 hours or more before Rightmove or Zoopla, and we are generating greater value than ever for our agents and new homes developers."

1 Visits comprise individual sessions on OnTheMarket.com's web-based portal or mobile app by users as measured by Google Analytics. 

2 Data for leads generated is reported from the Company's operating systems.

ENDS

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Background on OnTheMarket:

OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com property portal, is the third biggest UK residential property portal provider in terms of traffic.

It aims to deliver a market-leading, agent-backed alternative to Rightmove and Zoopla, offering a first-class service to agents at sustainably fair prices and becoming the go-to portal for serious property-seekers.

OnTheMarket plc was admitted to AIM in February 2018 with £30 million in new capital in order to support a new growth strategy for the business.

At its IPO, OnTheMarket was 70% owned by over 2,000 agent firms. Following the share issuance arising from its growth in long term agent listing contracts, over 3,000 agent firms operating more than 6,000 UK agency branches are now OnTheMarket shareholders.

With backing from its agent owners, OnTheMarket has developed unique sources of competitive advantage such as the thousands of "New & exclusive" property listings it receives every month from its agents to display 24 hours or more before they are on Rightmove or Zoopla.