- Impact
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Based on publicly available data, the domain industry, on the whole, has reported a surge in domain name registrations since February 2020. Legacy gTLDs’ new registrations have seen a 5%~ jump in March 2020 and 10%~ jump in April 2020 when compared to the average monthly registrations for 2019. (Refer to table below)
This is great news for our industry. In fact, we have seen a rise of 15-20% in registration volumes at Radix too. This is not limited to standard domain registrations; we saw a 22% increase in premium domain registrations as well and a 15% increase in premium domain revenue in March-May vs the previous 6 months.
While .online saw a 45% increase in premium registrations and a 38% increase in revenue, .store saw a 70% increase in premium registrations and a 93% increase in revenue. This is clearly an indication of the urgency across industries to go online with meaningful, brandable names.
It’s too early to celebrate, though. While we expect these registrations to be backed by meaningful usage, we have to take into consideration that this surge could be a result of knee-jerk, reactive reasons. So, obviously, we ought to be cautious when predicting the renewal rates for the next year.
However… and it’s a big however
We cannot ignore the fact that times are vastly different now when compared to 2008. The society is more dependent on the Internet today than ever before. And if that wasn’t enough, the pandemic has further accelerated the transition from offline to online for businesses across the board.
This is a unique situation for our industry. As more and more businesses, institutions, and even next-door services are going online and speedily evolving their technology usage, our industry stands to play a crucial role in this mix.
https://domainnamewire.com/2020/06/25/2008-vs-2020-analyzing-domains-in-a-global-recession/
This is great news for our industry. In fact, we have seen a rise of 15-20% in registration volumes at Radix too. This is not limited to standard domain registrations; we saw a 22% increase in premium domain registrations as well and a 15% increase in premium domain revenue in March-May vs the previous 6 months.
While .online saw a 45% increase in premium registrations and a 38% increase in revenue, .store saw a 70% increase in premium registrations and a 93% increase in revenue. This is clearly an indication of the urgency across industries to go online with meaningful, brandable names.
It’s too early to celebrate, though. While we expect these registrations to be backed by meaningful usage, we have to take into consideration that this surge could be a result of knee-jerk, reactive reasons. So, obviously, we ought to be cautious when predicting the renewal rates for the next year.
However… and it’s a big however
We cannot ignore the fact that times are vastly different now when compared to 2008. The society is more dependent on the Internet today than ever before. And if that wasn’t enough, the pandemic has further accelerated the transition from offline to online for businesses across the board.
This is a unique situation for our industry. As more and more businesses, institutions, and even next-door services are going online and speedily evolving their technology usage, our industry stands to play a crucial role in this mix.
https://domainnamewire.com/2020/06/25/2008-vs-2020-analyzing-domains-in-a-global-recession/
