Finally some good news for the beleaguered number crunchers at Telecom. Yahoo!Xtra, the online joint venture between Yahoo!7 Pty Ltd and Telecom New Zealand Ltd, has announced an after tax profit of $1.37 million for 2009.
The company says this reflects the growth of digital media over other categories, online ad spend proving robust in a challenging year for business. According to figures released earlier this year by the ASA, online advertising now makes up over 10 percent of all domestic media spend.
For the past two months, the Yahoo!Xtra homepage has been the number one New Zealand publisher homepage, a position the company also held in August and September of 2009.
Last year saw Yahoo!Xtra launch an online shopping site, a food channel and an enhanced movies channel. According to the company’s internal data, unique users to the site grew by 29 percent over 2009.