.tv Verisign contract

[equity78]

With some of the speculation about Verisign and .tv in another thread here is info on the contract from the Tuvalu Minister of Communications from 2007. If 07 is the 6 th year of 15 signed in 2000 I think there was a typo as Verisign did the deal at the end of Dec 01 so he might have meant to say signed in 01 not 00. Anyway it looks like running to 2015 or 2016

February 9, 2007
Minisiter of Communications Transport to
Minisiter of Communications Transport to Verisign
By Silafaga Lalua

The Minister of Transport and Communications Hon. Taukelina Finekaso has come back to the country this week after attending a 3 day meeting with Verisign in Washington, USA.

Verisign, the company that runs the dot TV domain, invited the minister and Secretary Tapugao Falefou to the United States to see its operation.

They talked on the agreement with Tuvalu, how they can get more money for Tuvalu, the Verisign opportunity for government Information, Computing and Technology ICT department staff, and the possibility of operating a mirror registry in Tuvalu.

Finekaso stated this is the 6th year of the 15 year agreement that the government signed with Verisign in 2000.

Tuvalu has received 2.2 million US dollars in the first five years of the agreement. From this 6th year onward, Tuvalu will receive 2 million US dollars.

Under the same agreement, it was settled that if Verisign acquires revenue of more than 5 million US dollars after every quarter, 5 percent will be Tuvalu’s.

Because it hasn’t reached that goal in the past 5 years, the 5 % has not been paid to Tuvalu yet.

Minister stated that the agreement cannot be re-negotiated.

There was an upfront payment of 25 million dollars paid to the government, and the total amount paid to Tuvalu has not being recovered by Verisign up to date.

Verisign still looks for ways to increase its revenue so Tuvalu can also benefit.

The trip to the USA was fully sponsored by Verisign and Hon. Finekaso arrived in the country yesterday.

 

[MicroGuy]

Thanks for the post EQ.

For some reason, Demand Media is leaving dot tv for dead. At least it appears that way to me. Does anyone know when their contract with Verisign ends?

 

[jeffoverman]

Thanks ray in posting and research into this.

J

 

[TheBulldog]

Thanks.

I would have to agree on Demand leaving it for dead. I even understand why.

 

[smashfactory]

crap ;-(

 

[equity78]

I think one of the misconceptions is, "oh if verisign did not own the .tv corp and run the registry then I could reg an LLL.tv for $10" That IMO will not happen, the attraction to .tv from the beginning has been premium pricing starting with Jason Chapnik and TUVALU. Tuvalu wants more money not less. It would not be oh the Verisign contract up now we will charge $10 for a domain registration.

One can take a look at Kiribati a neighboring nation of Tuvalu, .KI not quite tv but another small island nation. So you can reg a great name like ITV.ki or autoinsurance.ki or a bad name like stickitwherethesundontshine.ki or zxcvbnmnxn.ki or xcxnxnxoqw7888.ki no worries no Verisign no discriminating any of those five domains or any .ki for that matter are just $1296 at IDOTZ.net so go reg a .ki tell them Bob Parsons sent you and reg a bunch Kiribati will appreciate it.

 

[RPK]

I think one of the misconceptions is, "oh if verisign did not own the .tv corp and run the registry then I could reg an LLL.tv for $10" That IMO will not happen, the attraction to .tv from the beginning has been premium pricing starting with Jason Chapnik and TUVALU. Tuvalu wants more money not less. It would not be oh the Verisign contract up now we will charge $10 for a domain registration.

One can take a look at Kiribati a neighboring nation of Tuvalu, .KI not quite tv but another small island nation. So you can reg a great name like ITV.ki or autoinsurance.ki or a bad name like stickitwherethesundontshine.ki or zxcvbnmnxn.ki or xcxnxnxoqw7888.ki no worries no Verisign no discriminating any of those five domains or any .ki for that matter are just $1296 at IDOTZ.net so go reg a .ki tell them Bob Parsons sent you and reg a bunch Kiribati will appreciate it.

lol, Ray

Thanks for posting this info.

 

[smashfactory]

i know tuvalu wants their money- that is the point for them. premium pricing may have been the way to when this was all drawn up. but i believe that verisign is not handling .tv in the best way it can be handled and does not have a true vested interest in it.
even if verisign turned over the contract to someone else, and premium pricing stayed, if someone had a vested interest in the extension and stabalized it- they would see more money in the end.
now, with all that time left on the contract and verisign being the kind of company that it is, it doesnt look like that is gonna happen any time soon.
i read several pieces on the tuvalu deal, and unless i am reading it wrong, it sounds like tuvalu thought there would be more coming in, probably based on verisigns promises. and it isnt.
after so many years, if i have a company who doesnt seem like it is not performing, i raise a ruckus or try and switch companies.
but it also did not sound as if tuvalu was all that extension savvy, and my guess is thought they were signing into some sort of financial freedom for their small country. kinda like the devil dressed in a suit- put on a big smile, showed tuvalu the promised land- then walked alway smirking.
and here they have an extension that is truly beautiful, and it is not being used to its fullest potential because of verisign.

 

[meeks]

we make our own beds lets lay in them for a while and see what happens....

.TV makes sense!

I hope Tuvulu was not lead down a pathway to being ripped off.....

.TV is now coming of age and starting to be much sort after.
I hope Tuvulu gets something I hope I get something and I hope everyone who has risked something gets something in return.

its not easy going against the flow of popular opinion so to all who are invested I hope .TV works out.....

 

[equity78]

Meeks Tuvalu did get something they got an upfront payment of $25,000,000 I am sure Kiribati and Tonga and many other smaller island nations wish they had got $25,000,000 plus $2 million a year. I am no fan of Verisign never been a shareholder either. But Tuvalu has not done too bad. IMO

 

[meeks]

Equity there is no comparison between Tuvalu (.tv) Kiribati and well to be honest anyone else its all about the .TV the other nations dont rate IMO

dont see how you can compare other nations with Tuvalu as we are discussing .TV on here?

 

[equity78]

I am talking about a tiny nation that received $25,000,000 that's what I am talking about not comparing .tv to .ki. What I am saying is those nations wish they were as fortunate to have hit the TLD jackpot and be given .tv. TUVALU did nothing to get .tv they could have got .tu. My point is they have not done too bad IMO

 

[meeks]

I am talking about a tiny nation that received $25,000,000 that's what I am talking about not comparing .tv to .ki. What I am saying is those nations wish they were as fortunate to have hit the TLD jackpot and be given .tv. TUVALU did nothing to get .tv they could have got .tu. My point is they have not done too bad IMO

Luck of the draw to Tuvalu!
25mil is a lot for them I agree but in the big scheme of things its not a lot of money.
but Ray thinking about it you are correct, for an island nation that got lucky I have to agree they can't complain with their slice of the pie as it stands.

 

[michaeldotcom]

25mil is a lot for them I agree but in the big scheme of things its not a lot of money.

You shouldn't forget that Tuvalu has only 12,000 inhabitants.
So $25 million for a 12,000 inhabitant country is actually really a lot.

Let's compare with the United States, which has 300 million inhabitants.
That would be like the US receiving $625 billion dollars, which is approximately the GDP of the whole of Florida.

 

[meeks]

You shouldn't forget that Tuvalu has only 12,000 inhabitants.
So $25 million for a 12,000 inhabitant country is actually really a lot.

Thats pretty much exactly what I was saying....