VeriSign, the company tasked to oversee the .com and .net domains by ICANN, announced that they will increase the price of registration and renewal of these domains come October 15, 2007.
The Official word from them:
The registry fee for .com domain names will increase from $6.00 to $6.42 and that the registry fee for .net domain names will increase, from $3.50 to $3.85. This will be the first registry fee increase for .com and .net since the fee structure was put in place by ICANN in 1999.
VeriSign reasons that the price hike is necessary in order to upgrade existing DNS systems that have seen an almost 30 fold increase in DNS queries since 2000 as well as to install infrastructure that can help defend against cyberattacks.
As much as I’d like to scream “April Fools” at the end of this post I’m afraid I can’t because this is a real as it gets. I’d expect domain registrars to pass on the price increase imposed by VeriSign to their customers. If you own but a handful of domains with .com and .net extensions you’d hardly feel the price increase, but if you own a lot more, this is definitely going to bite your wallet.
If you have the cash and you did your math to check the potential savings, one option you can take is to extend your domain’s registration to a couple more years before the October 15 price hike.