Domain prices for ‘.com’ are expected to rise by seven percent this year. The price has been static for the last eight years at $7.82 (Rs 1,212).
According to reports, the proposal for an increase in domain prices was submitted in 2018. However, the matter only came to light now because the Internet Corporation for Assigned Names and Numbers (ICANN), a non-profit organisation responsible for coordinating the maintenance and procedures of several databases, is close to granting the final approval for the price hikes.
As per the proposal, the prices will increase to $13.50 (Rs 2,092).
Why is The Price Increasing?
Verisign, an American company that operates a diverse array of network infrastructure, recently signed a deal with the US government, which will allow the company to gradually increase domain prices.
It is important to understand that price hikes do not come from ICANN. They are actually a result of Verisign reaching an agreement with the Commerce Department, which supervises the ‘.com’ domains.
In a recent blogpost, ICANN’s CEO Goran Marby said that “the organisation is not a price regulator and defers to the US Department of Commerce and the US Department of Justice for the regulation of pricing for ‘.com’ registry services.”