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MMX billings double even as some volumes slide

Kevin Murphy, January 25, 2017, 10:24:11 (UTC), Domain Registries

MMX has reported a 100% increase in billings for 2016, despite its number of domains under management dropping in some TLDs.

The company, until recently known as Minds + Machines, said billing were $15.8 million in the year to December 31, compared to $7.9 million for in 2015.

Billings is an up-front measure of sales growth that does not take into account the way domain revenue is recognized over the life of the registration.

The company said, in a trading update to the London markets today, that billings and domains under management do not necessarily correlate. The former can be up even if the latter is down:

For example, in 2016 .work generated $392,000 off 81,000 registrations compared to $206,000 off 102,000 registrations in 2015 reflecting the use of a promotional initiative to drive registrations that year.

MMX also disclosed that China now accounts for more than half of its billings: 59%, compared to 24% for the US and 17% for Europe.

That’s largely based on its launch of .vip, which launched last May and has half a million names mainly because of the resonance of the string in China.

The company said it intends to imitate its focus on .vip in 2016 by only launching two TLDs — .boston and one other — in 2017.

MMX’s formal, audited 2016 financial results will be published in April.

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