Wix quantifies massive demand for websites due to Covid: Website Boom

People are creating websites in droves.

Image of an explosion with the words "Demand for websites and domain names is booming as businesses respond to COVID-19"

Website building platform Wix (Nasdaq: WIX) noted first quarter earnings today. It had a solid first quarter, but things got really interesting in April. As domain name firms can attest, there has been a boon in people registering domains and creating websites due to the Covid pandemic.

In April 2020 compared to April 2019:

63% more people signed up for a Wix account
Net paying subscribers added during the month jumped 207% compared to the April 2019 growth rate
Collections (cash receipts) soared 76%
Online store subscriptions grew 580% compared to the year-ago growth
Online store transactions grew 110%

Earlier this year, Wix stated it was too early to determine the impact Covid would have on its business. Now it has lifted its guidance going forward, citing the change in consumer behavior “creating a vast tailwind for our business.”

For Q1, both revenue and collections were up 24% compared to the same quarter of 2019. Wix’s base of paying clients increased by 162,000 to 4.7 million during the quarter and 6.9 million people registered for accounts.

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