REA Group and carsales.com.au deliver big growth as classified ads continue to shift online

August 14, 2013 1:07

Two of Australia’s largest online classified sites have both reported strong growth in the last financial year.

Carsales.com.au recorded an EBITDA profit of $120.1m, up by 19 per cent on a year ago. And REA Group, parent company of RealEstate.com.au was up by 30 per cent to $163.7m.

The profit results come weeks after the publication of Pamela Williams’s much discussed book Killing Fairfax, which highlighted how alomg with job site Seek, these two websites have picked up much of the classifed revenues which previosuly flowed to Australia’s newspapers.

Overall revenue for Car Sales was $215.1m, up 17 per cent while the REA group was up 21 per cent to $336.5m.

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Nic Christensen

Nic Christensen worked for Mumbrella from 2013 to 2016, in roles including deputy editor and media & technology editor. He is former media writer for The Australian and has also worked as a reporter for The Daily Telegraph and senior producer for Radio 2GB.

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