More than 60% of first-month registrations already renewed.
MMX’s .VIP domain name has been a big success right out of the gate in terms of registration volume. It has China to thank; over 700,000 of its roughly 800,000 registrations are at Chinese domain name registrars.
Hitting its first anniversary the big question was how many of these would be renewed.
MMX (Minds + Machines) says that 60% of the domains registered in the first 31 days of general availability have been renewed by customers. The rest are still in the auto-renew grace period, and the company expects the final number to shake out around 70% or better.
This is a strong first-year renewal rate for any new top level domain name, and it’s particularly interesting for a domain registered in high volumes in China.
It’s worth noting that, although the domain name has been sold in China for less than $5, it also hasn’t been offered for a buck or less to boost first-year registrations.
While the term VIP has resonated in China, I certainly don’t think it’s limited to there. This week I sold a .com domain that includes VIP in it to a company in the United States.