.Com domains to Increase in Price to $10.26 Starting September
Verisign, the registry responsible for .com domains, has announced an upcoming price hike that will affect domain name registrations. Beginning on September 1, 2024, the wholesale price for .com domains will rise from $9.59 to $10.26 per year. This increase comes as part of Verisign’s contract renewal, which allows them to raise prices by 7% annually for the final four years of the agreement. Barring any intervention from the U.S. government, the new price is expected to remain fixed for the next couple of years.
Current holders of .com domains can take steps to avoid the price increase. By renewing their domains in advance, they can secure their registrations for up to ten years at the current price. This option provides an opportunity for individuals and businesses to lock in their domain costs and avoid the impact of the forthcoming price adjustment.
The announcement regarding the domain price increase was made in conjunction with Verisign’s release of its 2023 earnings results. The company reported a total revenue of $1.49 billion for the year. While the number of domains under Verisign’s management decreased over the course of 2023, a 7% price increase implemented in September of that year contributed to a 4.8% year-over-year growth in revenue.
Verisign’s decision to raise the wholesale price of .com domains reflects the ongoing financial considerations and market dynamics faced by the registry. Despite a decline in the number of domains under management, the organization is seeking to maintain its profitability and advance its strategic goals.
The increase in .com domain prices may have implications for businesses and individuals that rely heavily on online presence. As the internet continues to play an integral role in various sectors, such as e-commerce and digital marketing, the cost of domain registrations could impact the overall economics of maintaining an online business or personal website.
It is important to note that Verisign’s price adjustment for .com domains follows a contractual agreement and is within the legal framework governing domain registries. The U.S. government, if it chooses to intervene, would be the only entity capable of challenging the price increase.
Overall, the decision by Verisign to raise the wholesale price of .com domains highlights the financial considerations involved in the management of domain registries. While the impact on businesses and individuals may vary, those with existing .com domain registrations have the opportunity to mitigate the price increase by renewing their domains in advance. As the price adjustment takes effect in September, it will be interesting to observe its consequences within the broader online ecosystem and the internet landscape as a whole.
