Verisign, the registry operator for .com domain names, announced a price increase for .com domain registrations and renewals effective from September 1, 2024. This change marks the fourth and final permitted increase of 7% under its current contract with the U.S. government. As a result, the wholesale price charged by Verisign to registrars for a .com domain will rise from $9.59 to $10.26 per year.
Why Are .COM Prices Increasing?
The price increase for .com domains is primarily due to the terms set forth in Verisign’s contract with the U.S. government. This contract allows for a maximum of four 7% annual price increases over the last four years of its six-year renewal period. The rationale behind these allowed increases includes:
- Infrastructure and Security Enhancements: Verisign invests heavily in maintaining a robust infrastructure to support the .com registry. This includes ensuring high availability, reliability, and security of the domain name system (DNS). Given the global reliance on .com domains for both business and personal use, it’s crucial that Verisign keeps its systems updated and secure against evolving cyber threats.
- Regulatory Compliance and Management Costs: Operating a top-level domain (TLD) involves compliance with various regulatory requirements. These regulations ensure that domain registries operate transparently and maintain fair pricing models. The costs associated with these regulations are factored into the price of domain registrations and renewals.
- Market Conditions: Like any business, Verisign responds to market conditions, including inflation, changes in technology costs, and other economic factors. The price increase helps ensure that Verisign can continue to operate efficiently and effectively in a competitive and dynamic market environment.
At GlobeHost, we are committed to providing our customers with the best possible service at competitive prices. However, due to the increase in costs from Verisign, we will be adjusting our .com domain registration and renewal prices accordingly:
- New Registration Price: Rs 999 per year
- Renewal Price: Rs 1149 per year
We appreciate your understanding and continued trust in GlobeHost for your domain registration and hosting needs. We are here to assist you with any questions or concerns you may have about these changes.
