Canadian YP Scores, US YP Struggles

YPG announced positive Q2 revenues and strong growth online:

Consolidated Adjusted Revenues increased 4.3% in the second quarter to reach $430.6 million. Revenues increased by $19.3 million to $430.4 million during the second quarter of 2008, compared with the same period last year. Consolidated Adjusted EBITDA1 grew by 7.3% to $235.4 million, while EBITDA (income from operations before depreciation and amortization) increased by $15.7 million or 7.1% to $236 million in the same period.

Online revenues from Directories and Vertical Media combined amounted to $61.4 million in the quarter. This represents organic growth of 44% over the second quarter of 2007. On an annualized basis, online revenues reached $245.6 million.

If I’m doing the calculation right online is now 14% of YPG overall revenues. That compares, generally, with <10% for US publishers.

How does one explain the Canadian success, while American publishers continue to struggle?

  • Better management
  • Monopoly status in directory industry
  • More diversified online revenue sources
  • Less online competition in Canada
  • Pact with Satan
  • Other?

7 Responses to “Canadian YP Scores, US YP Struggles”

  1. AhmedF Says:

    Gotta lean towards monopoly and less online competition (ala no Yelp etc).

  2. joe Says:

    Monopoly (.!)

  3. Thomas Lund Says:

    What about the strength of the brand? I’m not American, but I would think that Canadian YP has a stronger brand than YPs in America.

  4. Greg Sterling Says:

    That’s tied in to the monopoly status. The only brand is “yellow pages.” In the US that’s tied to multiple products, which dilutes it for any one of them. In Canada and Europe “yellow pages” is associated with a single company. Yes, I would agree the brand is significant.

  5. Dave Oremland Says:

    You hit the nail on the head, Greg, and in so doing let out a closely held secret.

    Its the PACT with the DEVIL, No Doubt!!!!!!!!

  6. Chris Silver Smith Says:

    Another theory: possibly the Canadian market will follow suit with the American market within just a few years’ time?

  7. Greg Sterling Says:


Comments are closed.

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