Yellow Pages

What Yellow Pages does

Yellow Pages Limited (TSX: Y), legally Yellow Pages Digital & Media Solutions Limited, is a Montreal-headquartered Canadian digital media and marketing company that connects local businesses with consumers through a portfolio of owned digital properties, mobile applications, and the legacy Yellow Pages print directory. The company was founded in 1908, incorporated under the Business Corporations Act (British Columbia), and currently operates with approximately 600 employees across Canada. Its core function is to serve Canadian small and medium-sized enterprises by syndicating their business content across a network of consumer-facing directories (YP.ca, YellowPages.ca, Canada411.ca, 411.ca) and external digital ecosystems including Facebook, Google, and Apple.

The product portfolio spans core digital directory platforms (YP.ca, YellowPages.ca), people-and-business lookup services (Canada411, 411.ca), mobile applications across all three properties, electronic directories (YP eDirectories), and traditional print directories with a Custom Delivery opt-out program. For business customers, Yellow Pages offers tiered digital marketing solutions ranging from basic content listings to premium multi-channel marketing packages that include content management, social media syndication, reputation management, and advertising solutions delivered through the YP for Business and YellowPages.ca Advertising platforms. Distribution is sales-led, combining a national face-to-face sales force with a telesales team targeting SMEs, supplemented by self-serve digital onboarding.

Revenue is generated predominantly through subscription-based digital media products and digital services, supplemented by declining print directory advertising. In Q3 2025, digital products generated approximately CAD 40.0 million versus CAD 8.3 million in print. Full-year 2025 total revenue was CAD 198.9 million (down 7.4% year-over-year), with Adjusted EBITDA of CAD 43.0 million and margin expansion versus the prior year; Q4 2025 net income reached CAD 7.6 million, more than doubling from CAD 2.7 million a year earlier, while the company maintained a CAD 64 million cash position at year-end 2025. Capital return to shareholders is executed through a CAD 0.25 quarterly dividend and a completed CAD 25 million share buyback arrangement in June 2026.

Name

Yellow Pages

Legal name

Yellow Pages Digital & Media Solutions Limited

Website

https://corporate.yp.ca

Company type

Public

Founded year

1908

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Yellow Pages Limited (TSX: Y) is a Montreal-based Canadian digital media and marketing company connecting local businesses with consumers through YP.ca, Canada411, 411.ca, mobile apps, and print directories, serving primarily Canadian SMEs with tiered digital marketing solutions.

Ownership category

akta.pro rank

Product category

Local Digital Marketing & Directory Services

NAICS

Newspaper, Periodical, Book, and Directory Publishers (5131), Periodical Publishers (513120)

SIC

Services-Advertising (7310), Newspapers: Publishing Or Publishing & Printing (2711)

akta.pro primary industry

Local SEO (Maps, Citations, Reviews) (BPAFAJAD)

akta.pro secondary industry

Local & Regional Newspapers (Print & Digital) (MPAJADAB)

Keywords

• Digital marketing solutions
• Online business directory
• Local advertising services
• Content syndication platform
• SME digital marketing

Headquarters

HQ city

Tucker

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Technology or R&D, Infrastructure

Revenue model

1. Digital Media Products: Digital advertising and marketing solutions sold to small and medium-sized businesses including digital customer count and average spend per customer. Total digital revenues were $40.0 million in Q3 2025, representing the majority of company revenue.
2. Digital Services: Lower margin digital services products contributing to revenue mix, though facing pressure from market conditions
3. Print Directory Products: Traditional print directory advertising products. Print revenues were $8.3 million in Q3 2025, declining 16.3% year-over-year due to decreased customer count though spend per customer improved from price increases.
4. Dividend Payments: Company pays quarterly dividend of $0.25 per common share to shareholders

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Yellow Pages operates a multi-platform digital media and marketing company that connects Canadian consumers with local businesses through digital properties (YP.ca, YellowPages.ca, Canada411.ca, 411.ca), mobile applications, and print directories. The company sells tiered digital marketing solutions and content syndication services to small and medium-sized businesses across Canada.

Product overview

Yellow Pages operates as a multi-platform digital media and marketing company offering a unified portfolio of directory and marketing solutions. The core products include YP.ca and YellowPages.ca as primary digital directory platforms, supplemented by Canada411.ca and 411.ca for people and business lookups. The company provides mobile applications across these properties (YP, Canada411, and 411), traditional print directories with opt-out options, and digital marketing solutions including content syndication to social platforms. Additional offerings include YP Shopwise for shopping functionality and YP eDirectories for electronic directory access. The company also offers business advertising platforms (YP for Business and YellowPages.ca Advertising) enabling SMEs to establish and manage their online presence through tiered content-driven solutions that can be syndicated across major digital ecosystems including Facebook, Google, and Apple.

Differentiator

Problem solved

Functional benefit

Products and services

• YellowPages.ca / YP.ca Primary digital directory platform enabling Canadians to discover local businesses, search listings, and access contact information for services in their neighbourhoods. Used by consumers for local business discovery and by SMEs for advertising visibility.
• Canada411.ca People and business lookup service allowing Canadians to find contact information, addresses, and phone numbers for individuals and businesses. Used by consumers for residential and business contact lookups.
• 411.ca
• YP Mobile Applications (YP, Canada411, 411)
• Yellow Pages Print Directories Traditional printed telephone directories distributed across Canada with national distribution, offering alphabetical listings of local businesses and residential listings. The Custom Delivery program allows customers to opt-out or customize their directory receipt.
• YP eDirectories
• YP for Business (Businesscentre.yp.ca)
• YellowPages.ca Advertising
• Digital Marketing Solutions

Quantifiable outcome

• Customer count decline rate stabilized in recent quarters
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eleven partnerships are on record, tiered minor and core.

• Canadian Red CrossminorOthers · 1 May 2016Yellow Pages donated $25,000 to the Canadian Red Cross Alberta Fires Appeal Fund following the Fort McMurray wildfires, with an online portal set up for 3,000 employees to make personal contributions.
• Notman HousecoreStrategic or Co-development Partner · 1 October 2015Yellow Pages partnered with Notman House to host MTL Ensemble, a startup community event bringing together top entrepreneurs to Montreal. The event featured the regional edition of the 1776 Challenge Cup startup competition.
• B2B NOW (Business to Business Network of Women)minorStrategic or Co-development Partner · 1 October 2013Yellow Pages collaborated with B2B NOW to raise money for the Downtown New Westminster Fire Relief Fund after a fire devastated 23 small businesses. YP produced 1,000 collectable limited edition shopping bags which were sold through local businesses, raising $6,023.24 for the relief fund.
• Reseau d'entraide de VerdunminorOthersLocal community organization helping impoverished families in Verdun. Yellow Pages donates half of the crops from its employee vegetable gardens to this organization, having donated over 130 pounds of vegetables.
• 1776 (Global Incubator and Venture Fund)coreStrategic or Co-development Partner1776 hosts a worldwide tournament called the Challenge Cup to find promising, highly scalable startups. Yellow Pages partnered to bring the Montreal edition of the 1776 Challenge Cup, where startups compete for funding by pitching ideas through Local, Regional and Global Finals rounds.
• CHU Saint-Justine FoundationminorOthersYellow Pages participates in the Urban Duathlon event that raised $360,000 for the CHU Saint-Justine Foundation, which supports children's cancer care at university health centres in Quebec.
• Tour CIBC Charles-Bruneau / Fondation Centre de cancérologie Charles-BruneauminorOthersYellow Pages cycling team participates in the 300-km Tour CIBC Charles-Bruneau cycling challenge to raise funds for children with cancer via the Fondation Centre de cancérologie Charles-Bruneau.
• United Way/CentraideminorOthersYellow Pages partners with United Way/Centraide to fight poverty and social exclusion by raising funds and investing locally, supporting a network of dynamic agencies and projects that bring people and communities together.
• Canadian Cancer SocietyminorOthersYellow Pages participates in Daffodil Day, selling fresh cut daffodils in Montreal, Toronto, Calgary and Burnaby offices and accepting employee donations to support cancer prevention, research, and support programs.
• Canadian Olympic CommitteecoreGTM or Marketing PartnerYellow Pages is a Gold Sponsor of Canada Olympic Excellence Day, celebrating Canadian Olympic athletes and Canada's growing role on the global Olympic landscape. The company also presented a live concert at the opening of the Canadian Olympic House.
• SDC Promenade WellingtonminorGTM or Marketing PartnerYellow Pages supported SDC Promenade Wellington as the official presenter of their biggest annual event, the urban sugar shack 'Érablière Panache et bois rond', which welcomed 20,000 visitors over 2 days.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Meta Platforms (Facebook/Instagram Business): Dominant SME advertising platform that YP both partners with (content syndication) and competes against for local business marketing dollars.
• Yelp: Leading consumer-facing local business discovery and reviews platform competing with YP.ca in online local search and SME advertising, with broader scale and brand recognition.
• TripAdvisor (now operating local discovery brands): Large-scale digital local discovery platform with adjacent SME advertising offerings, competing for share of local business marketing budgets.
• Google Business Profile / Google Ads: Free local business listings and paid advertising suite; the primary substitute for YP's directory and local marketing services, with unmatched reach and targeting.

Direct peers

• Thryv Holdings: US-based SaaS and digital marketing platform for small businesses offering print directories, digital listings, CRM, and marketing automation — directly comparable to YP's SME marketing and directory offering.
• Yell (Hibu/Yell Group): UK-headquartered directory and digital marketing services provider; YP's Chair Rob Hall and Director Martin Harrison are former Yell/Hibu executives, and the businesses share virtually identical directory-to-digital transformation histories.
• Hibu Group: US digital marketing company serving small businesses with websites, search marketing, and listings — direct competitor in the North American SME marketing space with overlapping go-to-market and product mix.
• Dex Media: US-based provider of digital marketing solutions for local businesses, evolved from the print Yellow Pages; direct US analog to YP's print + digital directory model.

Emerging players

• Nextdoor: Neighborhood-focused local discovery and SMB marketing platform; partial overlap with YP's community-level local discovery and SME advertising value proposition.

Regional players

• Yellow Pages Canada (private operators) / Local.ca competitors: Canadian regional directory and local marketing operators that overlap with YP.ca in specific Canadian provinces and verticals, providing localized competitive pressure.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/yellow_pages
• YouTubeyoutube.com/user/YellowPagesGroupCa
• Facebookfacebook.com/YellowPagesCa
• LinkedInlinkedin.com/company/yp
• Instagraminstagram.com/yellowpages_ca
• Pinterestpinterest.com/yellowpagesca

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Yellow Pages