Reglikedomain industry desk

ICANN discloses 2020 financial results

ICANN discloses 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 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 since 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 since of the pandemic.

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

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