Minds + Machines (MMX) is expecting higher than average first year renewal rates for its .vip new gTLD in China. Based on early manual renewals, the registry is seeing renewals significantly ahead of those typically seen by new generic top-level domains in the region, according to a statement released 7 June.
MMX uses first year renewal rates as an important internal benchmark. To date, actual deletions for the first 31 days of registrations for .vip from China are currently less than 1%, with manually confirmed renewals for the same period already at over 60%, with the remainder being placed on auto-renew by registrars on behalf of their customers.
Whilst not all of those placed on auto-renew will be renewed, MMX expects the overall renewal rate for the first month of .vip registrations, which will be published in late July, to place .vip in-line with the best-in-class renewal rates of leading western facing top-level domains (i.e. c. 70% and above).
“The .vip renewal rates from China, which have not been reliant on aggressive discounting tactics, are testament to the inherent value of the .vip extension and hard work of our retail partners,” said Toby Hall, CEO of MMX.
“This bodes well for our Chinese premium revenues in H2 as we begin releasing our 2017 .vip premium inventory for the first time to the broader market in Q3, traditionally the main domain investment season in the region, on the back of .vip’s exceptionally strong renewal profile.”
MMX is also expanding in China with approvals for 8 new gTLDs currently progressing through the MIIT (Chinese regulator) for potential future release in China.
By domains under management, or registrations, MMX is sixth largest registry operator with 1.104 million domain names according to nTLDstats.com. By new gTLDs under management it’s the third largest with 26 behind Donuts (2.203 million DUM and 197 gTLDs) and Rightside (640,000 and 40). The largest registries by DUM are XYZ.COM with 5.703 million DUM and 6 new gTLDs followed by Famous Four (5.171m and 16), Jiangsu Bangning Science & Technology (one (.top) and 3.943m), Radix (2.342m and 9), Donuts and then MMX.