Verisign Price Increase
Verisign, the global provider of domain names, has recently announced that they will be increasing the cost of .com domains by 7% beginning September 1, 2023. Under agreement with the US Government, Verisign is allowed to increased prices by 7% per year in the last four years of every six-year contract term. Since this is the 3rd hike of their current contract, the company is expected to increase .com prices again in 2024.
What this Means for You
This increase will impact all domain registrars, so it doesn’t matter which company you purchased your domain from, i.e., GoDaddy, Namecheap, Google, etc. After September 1st, the cost to purchase or renew a .com domain will increase from $8.97 to $9.59. Verisign is expected to raise the price again in 2024 to $10.26. Importantly, Verisign does NOT sell domain names to the public. This represents the wholesale price offered to large scale registrars who then resell the domain names and set their own price, which is higher.
The Internet’s “Forever Stamp”
There is nothing you need to do at this point if you are ok with the price increase. However, think of the opportunity to renew your domain name now and for more years the same way you think about the “Forever Stamp”. If you want to take advantage of the current price for renewal, you should do so before the 1st. Also, many registrars offer discounts when renewing for multiple years. Make sure you check out those offers as well.