.COM and .NET registration renewals were lowest in three years
Verisign, which manages the .COM and .NET generic top-level domains, has released its second quarter report this year. Like many registrars and registries in the past, they noted an increase in registrations under quarantine restrictions caused by the COVID-19 coronavirus pandemic. The cumulative number of new registrations in .COM and .NET domain zones reached 11.1 million in the second quarter, up from 10.3 million in the same period last year. Verisign's total registration growth for the quarter was 1.41 million, also surpassing last year's 1.34 million.
However, not all indicators look so rosy. Domain Incite points out that the renewal rate for .COM and .NET domains was 72.8% in Q2. This is noticeably lower than a year earlier, when this percentage reached 74.2. Moreover, this is the lowest figure in the last three years. However, this decline can hardly be attributed to the pandemic. Rather, it is caused by active promotions from registrars over the past year. The opportunity to register a domain name at a low price traditionally attracts many, but registration of a significant part of such “discount” domains, as a rule, is not renewed after a year. You can also add that the company's revenues grew by 2.6% in the quarter over the same period last year and reached $ 314 million, and the net profit was $ 152 million.