Bloomberg Reports Surging Interest in .brands
Because of their potential to help brands differentiate, branded Internet domains are building real momentum, according to a Bloomberg BNA Law and Electronic Commerce Report.
“We are working with a number of folks right now who intend to use their .brand as their future digital footprint, and absolutely intend to make it a serious point of brand perception differentiation between themselves and their competitors.”
Today well over 200 .brands have completed the approval process laid out by Internet Corporation of Assigned Names and Numbers (ICANN), the non-profit governing body of the domain name system. Bloomberg BNA reported reported that a growing number of brands favor a second round of applications, possibly one dedicated solely to .brands. A second round has not been announced, but is widely anticipated to happen in the next few years.
A Powerful Way to Differentiate
Tony Kirsch, Head of Professional Services at Neustar, said that traditional ways to show difference are easy to replicate, for example, better products, service, and marketing. However, when the new Top-Level Domain (TLD) program was launched, there was a significant unknown element, requiring a highly strategic approach and innovative mindset from those brands that participated. Organizations without this vision missed the opportunity and many are now eager for the chance to join the movement.
Because .brands can differentiate so easily, Kirsch told Bloomberg BNA he expects them to drive the evolution of “digital superbrands” in the next three to five years. “We are working with a number of folks right now who intend to use their .brand as their future digital footprint,” he said, “and absolutely intend to make it a serious point of brand perception differentiation between themselves and their competitors.’’
Bloomberg BNA reported that four major market sectors are responsible for the highest concentration of .brands: banking, luxury, technology, and automakers. Stay tuned to see who else develops .brands—and how they use these assets to separate from the pack.
GoDaddy acquired Neustar's registry business as of August 3, 2020.