ATLANTA, April 26, 2021 /PRNewswire-PRWeb/ -- WorthPoint Corporation, the largest online resource for researching, valuing, and preserving antiques, art, and collectibles, today announced business results for the first quarter of 2021 ending March 31, posting its 17th sequential quarter of revenue growth:
- WorthPoint's first-quarter revenue grew by 5% from Q4 2020, up 51% year over year.
- Subscribers increased by 8.5% in Q1, which is a 45% increase from Q1 2020.
- Site traffic was up 17% from the same period in 2020.
- WorthPoint's Alexa ranking was 737 in the U.S. for web traffic as of March 31.
The content in WorthPoint's Worthopedia® database, which already surpasses all competitive sites, continues to expand. The company injected data from 49 different sources in March alone, which is three times the average of its monthly injection sources in 2020, and four times that of 2019. Twenty-seven (27) million new items were added to the Price Guide from January through March; another 7,196 items were added to the marks database. The number of Dictionary pages expanded by 605, bringing the total to just over 3,650 entries.
WorthPoint also doubled the size of its Library with the addition of more than 1,000 books and catalogs, a trend that will continue in Q2 as the company adds another 2,000+ items to the Library over the next four months. In March 2021, WorthPoint announced it had acquired the licensing rights to digitally republish more than 1,250 titles from Schroeder Publishing's Collector Books catalog. Once all those books are scanned, properly permissioned, and uploaded to WorthPoint.com this year, another 125,000 pages of new reference materials on specialty collectibles will be available to subscribers.
"One of the top requests from our subscribers last year was to increase the number of data sources that contribute information to WorthPoint, so we concentrated on that," said Will Seippel, WorthPoint founder and CEO. "We are adding data and new partners at a record pace – we signed agreements with 22 additional auction houses this quarter alone."
During the first quarter, the company also finalized the acquisition of assets from HistoryInPhotographs.com (HIP), which was announced on April 6. HIP is a digital repository and e-commerce site for more than 50,000 historic photographic images of American life dating from the 1860s. HIP's integration into WorthPoint.com will serve as a template for how the company grows other collectible verticals moving forward.
WorthPoint expanded its focus on marketing in Q1 with the 2021 launch of a "Flip It or Skip It" podcast, through participation in the International Society of Appraisers (ISA) 2021 Assets Conference, and the resumption of its popular WorthPoint Treasure Hunts, which were on hiatus during the COVID-19 pandemic. The first 2021 hunt takes plan on June 11 at Scott's Antique Market in Atlanta.
Looking ahead, WorthPoint remains on track to launch an industry-leading image recognition technology for its M.A.P.S. database mid-year, will continue to invest in subscriber research and upgrades to existing product offerings such as the WorthPoint Vault, and plans to introduce a new value-priced subscription product geared toward homeowners.
"We are optimistic about WorthPoint's growth this year, especially after our strong performance in 2020," continued Seippel. "Much like the U.S. economy, we realized gains as first quarter progressed and are seeing that momentum carry over into April. All of our indicators are trending up, which is typical of our business in the summer months, and we are on track to meet 2021 projections."
About WorthPoint Corporation: WorthPoint manages the largest online resource for researching, valuing, and preserving antiques, art, and collectibles. The company's suite of offerings on WorthPoint.com includes a Price Guide, a resource gallery for identifying maker's marks, autographs, patterns, and symbols (M.A.P.S.), and a digital Library with over 1,400 books on collectible topics. Through data aggregated from online marketplaces, including eBay and leading auction houses, WorthPoint empowers the antiques and collectibles industry by providing a steady stream of new data each month, building on more than 549 million archived prices and nearly 1.3 billion images to improve pricing transparency for sellers and buyers. WorthPoint is headquartered in Atlanta and has subscribers on six continents.
Media Contact
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SOURCE WorthPoint
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