Edison Investment Research - OnTheMarket (OTMP) OnTheMarket - Conversion commenced

Report

Edison Investment Research

Fiona Orford-Williams

OnTheMarket - Conversion commenced

Final FY19 results to end January show OnTheMarket (OTM) laying the groundwork and building a meaningful business challenger to the two main incumbent UK property portals. The drive to convert participating agents to paying contracts is now under way, with almost 1,000 branches signed to date, at an average revenue per advertiser (ARPA) of Â£337. Over half of these signings are for three- to five-years. Most of the balance are on shorter contracts, with the option to extend. It is this programmeâ€™s success that will determine the speed of the groupâ€™s transition into profit.

13/06/2019 5 EN

Underlying

OnTheMarket

OnTheMarket PLC. OnTheMarket plc is a United Kingdom-based holding company that provides online property portal services to businesses in the estate and lettings agency industry. The Company operates the United Kingdom online residential property portal, OnTheMarket.com. The Company's portal allows agents to display their properties to an audience of property seekers. Its online platform offers a search service and lists of homes for sale or to rent. The Company's portal offers saved search and property alert facilities to property seekers by creating a MyOnTheMarket account. Its portal provides an access to tools that enables manual property uploading, editing of property details and branch details. The Company serves home developers, online agent companies, commercials and property advertisers. The Company's subsidiary include Agents' Mutual Limited and On The Market (Europe) Limited.

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GB00BFN3K335 London Stock Exchange United Kingdom

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Fiona Orford-Williams

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