Travelzoo 2012 Annual Report Download - page 91

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Revenues
The following table sets forth the breakdown of revenues by type and segment for the years ended December 31, 2012 , 2011 and 2010.
Travel revenue includes travel publications ( Top 20 , Website , Newsflash , Travelzoo Network ) and Getaway vouchers. Search revenue
includes SuperSearch and Fly.com . Local revenue includes Local Deals vouchers and Entertainment.
North America
North America revenues increased $238,000 in 2012 compared to 2011. This increase was primarily due to an increase in Local revenues,
offset by a decrease in Search and Travel revenues. The increase in Local revenue of $2.3 million was primarily due to the increased number of
Local Deals
vouchers sold. The decrease in Travel revenue of $1.2 million was primarily due to lower Top 20 and Newsflash revenue related to
certain online booking engines, hotels and airlines, offset by an increase from Getaway due to increased number of Getaway vouchers sold. The
decrease in Search revenue of $879,000 was primarily due to the reduced number of clicks that generate revenue as a result from our reduced
spending on traffic acquisition.
North America revenues increased $20.9 million in 2011 compared to 2010. This increase was primarily due to growth of Travel and
Local revenues offset by a decrease in Search revenue. The increase in Travel revenue of $4.1 million was primarily due to the introduction of
Getaway offset by lower Top 20 and Newsflash revenue related to airline consolidation and increased competition. The decrease in Search
revenue of $934,000 was primarily due to the reduced number of clicks that generate revenue as a result from our reduced spending on traffic
acquisition as well as lower average cost-per-click paid by our advertisers. The increase in Local revenue of $17.7 million was primarily due to
the increased number of Local Deals sold.
Europe
Europe revenues increased $2.6 million in 2012 compared to 2011. This increase was primarily due to growth of Travel and Local
revenues offset by a decrease in Search revenue. The increase in Travel revenue of $2.4 million was primarily due to an increase from Getaway
due to increased number of Getaway vouchers sold. The increase in Local revenue of $1.1 million was primarily due to the increased number of
Local Deals
sold. The decrease in Search revenue of $940,000 was primarily due to the decreased number of clicks that generate revenue as a
result from decreased spending on traffic acquisition.
33
Years Ended December 31,
(In thousands)
2012
2011
2010
North America
Travel
$
56,636
$
57,795
$
53,693
Search
23,101
23,980
24,914
Local
29,050
26,774
9,054
Total North America revenues
$
108,787
$
108,549
$
87,661
Europe
Travel
$
29,844
$
27,434
$
21,786
Search
4,149
5,089
2,404
Local
8,388
7,270
933
Total Europe revenues
$
42,381
$
39,793
$
25,123
Consolidated
Travel
$
86,480
$
85,229
$
75,479
Search
27,250
29,069
27,318
Local
37,438
34,044
9,987
Total revenues
$
151,168
$
148,342
$
112,784