Some interesting news today from Yellow Media Inc., owner of the Yellow Pages phone directories. It seems like they are expanding their efforts in web advertising and internet, and will add website building to their offerings. The company is also still profitable after earning $79.9 million in its latest quarter.
Following are some interesting parts of the article and some statements from the CEO Marc Tellier:
"The growth in digital products should be able to offset print pressure or traditional product pressure that we might have next year."
Tellier said he expects about 25 per cent growth in digital revenues in 2011.
Yellow Media already helps businesses that have websites improve their rankings with search engines such as Google, Yahoo or Bing and drive traffic to their sites, he said.
The addition of website building would essentially make the company a one-stop destination for small and medium-sized business for all of their digital needs, including email marketing, ratings and reviews for businesses, video production and search engine marketing.
But Tellier noted print directories aren't dead.
"The print Yellow Pages directory is still present in more than 90 per cent of households."
Yellow Pages owns and operates some of Canada's leading properties and publications such as Yellow Pages directories and websites such as YellowPages.ca, Canada411.ca, Auto Trader(.ca), Home Trader(.ca), and LesPAC.com.
The Yellow Pages Income Fund (TSX: YLO-UN.TO) reported that its profit was down 31.6 per cent from a year-ago as it continues to transition from a publisher of paper directories to an online-focused information provider.
Revenues edged higher to $420.4 million from $417.5 million.
Click here to read the full article.