Craigslist Makes About $36 Million Annually From Prostitution Ads [ESTIMATE]
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
Classifieds website Craigslist will be seeing their revenue increase 22%. One of the reasons for the substantial revenue increase is because of ads used for illegal ends according to The New York Times. These ads are expected to bring in about $36 million this year according to a projection. The projections were provided by The Advanced Interactive Media Group (AIM). The estimate was based on the number of sex ads counter on Craigslist over the month of February and the fees associated with them. Each sex ad costs $10 initially and $5 for re-posts.
“Of the thousands of U.S. venues that carry adult service ads, including venues operated by some of the largest and best known companies in the U.S., Craigslist has done the best and most responsible job of combating child exploitation and human trafficking,” said Craigslist CEO James Buckmaster in an interview with the NYT. Buckmaster referred to newspapers, other sex websites, and phone directors as the alternatives. The AIM Group calculated that Craigslist is expected to make $122 million in 2010. [NYT]