Rightmove (RMV) Trading Update summary

Strategic direction and business evolution

• Strategy centers on building a leading digital ecosystem for the moving experience, leveraging strong network effects and proprietary data to drive value for partners and consumers.

• AI and data are central to accelerating execution and innovation, with 27 prioritized or active AI initiatives transforming both consumer and partner experiences.

• Strategic Growth Areas, including commercial, mortgages, and rental services, have delivered operational milestones, with revenue growth rates up to three times higher than the core business and over 700 new partners added since 2023.

• Five pillars drive growth: consumer engagement, core partner value, strategic growth in commercial, rental, and financial services, platform/data/AI, and people.

• Core business, representing 90% of revenue, continues to innovate with new products and packages, maintaining strong retention and sentiment among partners.

Innovation, AI integration, and technology transformation

• AI is infused into all aspects of the business, from consumer-facing features like hyper-personalized search and Style with AI to internal operations and partner tools, with a focus on quality, security, and production-grade solutions.

• Over 60% of data migrated to the cloud, with 90% of front-end traffic to follow by end-2025, streamlining processes and enabling faster product delivery.

• Proprietary data and AI models deliver significant improvements, such as over 50% higher accuracy in vendor prediction models and enhanced partner dashboards.

• New digital tools and features, including Online Agent Valuation, Renters Checklist, and direct appointment booking, enhance user engagement and monetization opportunities.

• Multi-year collaboration with Google Cloud supports advanced AI and data capabilities across the platform.

Consumer experience transformation and market position

• Over 85% of traffic is direct or organic, with 96% home-mover awareness and 1 in 2 UK adults using the platform monthly.

• AI-driven features include hyper-personalized search, move journey assistants, integrated mortgage tools, and renovation calculators, with over 20 million searches per day and 18 million mortgage interactions annually.

• App adoption and engagement are accelerating, with app users showing higher retention and more sessions than web-only users.

• Proprietary data assets include 68bn consumer signals, 7bn property searches, and 985m property images annually.

• Strong network effects and first-party data drive partner value and innovation.