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Internet domains could be set for major price rise

(Image credit: Image Credit: Atm2003 / Shutterstock)

It costs roughly $10 a year, to buy and hold a .com or .org domain today. However, this may change dramatically, to the worse, very soon. The media are reporting of huge changes in the way domain names are handled, and the result could very well be an uncontrollable price hike.

ICANN, the organisation that oversees the domain name system, has recently issued a public comment in which it addresses the possible removal of the price cap that's currently in place for many of the old domain names, including .org, .info and .biz.

"This change will not only allow the .org renewal agreement to better conform with the base registry agreement, but also takes into consideration the maturation of the domain name market and the goal of treating the Registry Operator equitably with registry operators of new gTLDs and other legacy gTLDs utilizing the base registry agreement,” it said.

It argues that newer domain names, such as .app or .vip, don't have the price cap many of the old domains do. Given that the companies that handle these domain names have a contract with ICANN that's about to expire later this year, we could very well witness a huge price surge.

This, obviously, did not sit well with registrars and companies.

Namecheap, one of the companies offering domain names, argues that the price to renew a domain name could be ten times higher, this time next year. It invited other companies to publicly oppose the plan.

Image Credit: Atm2003 / Shutterstock