Incumbents continue to maintain their lead while diversifying revenue streams in an evolving market environment.
For decades, classifieds were the domain of newspapers, which offered advertisers cheap ads sorted under specific categories. The ads gave shoppers an easy way to browse various local offers, usually from private sellers. But, the jump from print to digital was inevitable and has proven itself to be quite lucrative for digital players.
However, in the past few years, as the online classifieds market matures, leading digital classifieds players are attempting to diversify their revenues into new products and services. This is being driven by the need to ensure new sources of revenue growth and to drive customer acquisition and loyalty.
In the real estate market, REA and Domain have introduced adjacent services such as mortgage broking and data analytics.
In the recruitment market, LinkedIn and SEEK have been investing in technology companies involved in temporary hire, skill development, alternative recruitment and employee engagement.