By Paul Pannone
The company formally known as TheKnot reiterated the growing competition they’re facing both online and in bridal publications in their latest 10-Q filing.
Facing stiffer competition, Carley Roney, Cofounder and Editor In Chief, manages to keep a smile on her face.
According to the filing a summary states:
The Internet advertising and online markets in which our brands operate are rapidly evolving and intensely competitive, and we expect competition to intensify in the future. There are many wedding-related and baby-related sites on the Internet, which are developed and maintained by online content providers. New media platforms such as blogs, microblogs, social networks, and publisher networks are proliferating rapidly, including popular new sites like WeddingWire, Project Wedding, Wedding Bee, BabyCenter (published by Johnson & Johnson), Kaboose (published by Disney), and Cafe Mom. Retail stores, manufacturers, wedding magazines and regional wedding directories also have online sites that compete with us for online advertising and merchandise revenue. We expect competition to increase because of the business opportunities presented by the growth of the Internet and e-commerce. Competition may also intensify as a result of industry consolidation and a lack of substantial barriers to entry in our market.
Changes in the wedding industry and consumer view of formal weddings forced TheKnot to change its brand to include all other life stage events and generalize their name to the XO Group almost a year ago. The revised company so far has not been able to regain the success of when it first launched.
Sources familiar with the Knot say their expansion to China has not been as successful as first hoped for.
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