The domain world is changing, and pretty soon your .com domain registration could cost you more money.
Historically, unless you are trying to buy a domain that has already been used, you can get a new domain for very little money. Especially if you are looking for a .com domain. There’s a bit of a monopoly of sorts out there, and it a recent announcement could really affect domain costs.
There are two rulers in the domain world – nonprofit ICANN and Verisign. Verisign is a private company that handles .com’s and .net’s.
They have a proposal that is making some consumers quite frustrated because it will cause a rate increase for .com domains. The proposal has a cap on .com prices that has been in place since 2012 to come off. Per thehustle.co: “But the new agreement allows Verisign to raise the $7.85 price by 7% for each of the next 4 years. And then 4 out of every 6 years after that.” Because of this, “Namecheap estimates that there are 140m+ .com domains out there. Ars Technica says that means Verisign could see $500m in additional revenue per year, if the changes stick.”
It remains to be seen what will happen for consumers, but it’s safe to assume that at least some of that increase will be passed on to them. We’ll have to watch, wait and see.