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ICANN announces 2020 financial results

Pandemic-induced savings helped ICANN’s 2020 financial results.

A chart showing ICANN meeting costs. It shows that the cost of its virtual events due to covid was substantially lower than in-person events.
ICANN saved a lot of money in FY 2020 by holding its events virtually instead of in person.

ICANN published (pdf) its financial results for the 2020 financial year today. FY 2020 covered the 12 months ending June 30, 2020.

Total funding was $141 million and expenses were $126 million.

The numbers turned out better than originally expected because of Covid. The pandemic forced ICANN to hold its last two meetings of the financial year remotely, saving nearly $6 million. It begs the question if it makes sense to hold three expensive ICANN meetings every year.

Overall, expenses were $11.1 million (8%) lower than expected due to the virtual meetings, travel restrictions and lower personnel expenses. Hiring slowed because of the pandemic.

Revenue was $0.6 million higher than expected because of higher-than-forecasted domain name transaction fees.

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  1. Kurt Pritz says

    Multiply that savings by those people and organizations paying their own way to ICANN meetings (ICANN could probably furnish statistics on this) and calculate total savings. Then determine what was ‘not accomplished’ as the cost against the savings, as well as lost sponsorship revenue to ICANN. (I am finding the post meeting drinks at 7am more enjoyable than I thought.)

  2. kip says

    Looks like they should give Verisign the quid-pro-quo $20 million back now that they know how to manage their finances a little better…

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