Record year for domain registrations leads to 3% increase in IEDR turnover
12 July 2018 | 0
IE Domain Registry, the Company responsible for managing and maintaining Ireland’s country domain name, .ie, has reported an increased of 3% from €3.03 million in 2016 to €3.12 million in 2017.
Operating profit after tax surplus showed a surplus of €255,252, an increase on an operating loss after tax of €126,519 in 2016.
2017 was a record-breaking year for new domain registrations, with 39,523 new .ie domains registered, an increase of 14% on the previous year (34,615). The total number of registered .ie domains at the end of 2017 was 237,412, net growth of 40% year-on-year.
IE Domain Registry completed the groundwork for the liberalisation of registration rules, a move which has facilitated the expansion of the .ie namespace for citizens, residents and business owners. The new liberalisation policy means that any individual or business with a provable connection to Ireland can register any available .ie domain name on a first-come, first-served basis. Previously, individuals or businesses registering a .ie had to prove a valid claim to the desired name and a real, tangible connection to the island of Ireland.
Since the introduction of liberalisation on 21 March 2018 the number of new domains registered has risen significantly. New registrations for January to April 2018 were 20,284, a year-on-year increase of 50% on 2017. More than half of this growth represents registrations of .ie domains by new customers, indicating the success of the new policy in transforming the customer experience, making it easier and faster than before.
“IE Domain Registry is in robust financial health following a year of continued commitment to our Strategic Development Fund, ongoing stakeholder engagement, and changes to .ie registration policy,” said David Curtin, chief executive, IE Domain Registry.
“We spent much of last year consulting stakeholders and the public on .ie domain liberalisation, with the goal of making it easier than ever for individuals and business owners to register a .ie domain. The results of this change, implemented in March 2018, have been hugely successful, and we are confident it will continue to have positive effects for the .ie namespace this year and into the future.
“It is critically important that Irish SMEs are equipped with the necessary knowledge and tools to develop their online presence. We are committed to working with, and supporting, them on this digital journey.
“E-commerce is worth €12.3 billion to the Irish economy, but… 40% of Irish SMEs with a website can take sales orders through it. Irish businesses need external supports so they can respond to the challenges of online competition from large multinational retailers, and win back the loyalty of Irish consumers, who are currently doing most of their online spending with foreign retailers.
“IE Domain Registry is also particularly pleased that the multi stakeholder Policy Advisory Committee (PAC) worked so well again in 2017. We reached consensus on the implementation of policy changes, which will support the growth and expansion of .ie.”