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Overall, Domain Services' revenue was up 3% year-on-year and gross margin was up 14%. As expected, we saw growth in the number of new transactions in both the wholesale and retail channels and we continue to build on a new high watermark in terms of the quantity and quality of our names and customers. One year into the global pandemic, Q1 is the last quarter that the year-on-year comparison will benefit from the accelerated transition to digital services.
In our wholesale segment, total registrations were up 2% to $4.4 million, with new registrations up 5%. We believe new registration activity has now settled into a steady state business again. The wholesale renewal rate for Q1 was 80%, up a point from Q4 and continues to reflect the quality of our base of names. Value added services gross margin increased 26% year-on-year, positively impacted by strong results from our expiring stream revenue, which highlights the increased demand in both the primary and secondary market for domain names.
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Overall, Domain Services' revenue was up 3% year-on-year and gross margin was up 14%. As expected, we saw growth in the number of new transactions in both the wholesale and retail channels and we continue to build on a new high watermark in terms of the quantity and quality of our names and customers. One year into the global pandemic, Q1 is the last quarter that the year-on-year comparison will benefit from the accelerated transition to digital services.
In our wholesale segment, total registrations were up 2% to $4.4 million, with new registrations up 5%. We believe new registration activity has now settled into a steady state business again. The wholesale renewal rate for Q1 was 80%, up a point from Q4 and continues to reflect the quality of our base of names. Value added services gross margin increased 26% year-on-year, positively impacted by strong results from our expiring stream revenue, which highlights the increased demand in both the primary and secondary market for domain names.
read more (seekingalpha) / PDF Attached
