New York will  boost revenues with .nyc

New York will boost revenues with .nyc

Posted On: Apr 29, 2012 By

New York City hopes to rejuvenate the city’s profile for business, tourism and increase revenue with the new domain name. In April in will be possible for New York to apply for the .nyc domain name now that the Internet Corporation for Assigned Names and Numbers (ICANN) has approved the use of a number of new 'top-level' domains (TLDs). New York City and others, will have to apply for their chosen domains by April 12 through the vender Neustar, whilst ICANN overseas the Internet’s domain address system. It is thought that New York will initially apply for a five-year option, with two five-year renewal options. However it could take up to 12 months for the TLD application to be given, so the domain name actually being used is still a long way off. In 2009 NYC officials stated they were seeking a partner to acquire and promote the .nyc to increase revenue. It is hoped the domain will also boost local businesses and the cities global profile. 'Through .nyc, we hope to make the search for New York City-related content easier than ever by providing individuals, organisations, non-profits, and others a chance to own a virtual piece of the greatest city in the world,' said the then DoITT Commissioner Paul J. Cosgrave at the time. Carole Post is now the city’s DoITT commissioner. However the domain will not be available for use to everyone, NYC has decided to reserve its use for individuals, businesses, or organisations with 'a substantive and lawful connection to the city' and with a legitimate existence in the city. The city will gain 40 per cent of revenues every year from the .nyc domain. The total revenue is likely to be a minimum of $3.6m for the five-year contract, with a minimum of $300,000 for the initial year.
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