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Trendsetters: Digonex® To Dynamically Price Digital Albums For WMG In Pilot Program
Digonex® To Dynamically Price Digital Albums For Warner Music Group In Pilot Program
WMG To Test Variable Pricing
WMG will soon begin experimenting with variable download pricing. Few details have been shared, but the trial will be powered by Digonex and technology already in use by Nettwerk, Naxos and PassAlong.
Using Digonex’s patented DigitalOnlineExchange, a dynamic commerce engine that suggests changes to prices based upon behavioral principles, consumers can actively help set prices for select digital albums from WMG’s artists as part of the program. DOE will work with digital retailers to continuously identify the ‘sweet spot’ where prices follow perceived market value and generate the maximum economic return while providing fair prices for consumers.
Indianapolis, IN. and New York, -- Digonex Technologies, Inc., announced today an agreement with Warner Music Group (NYSE: WMG) whereby Digonex will use its proprietary technology to recommend varying wholesale prices to WMG for select digital album downloads. The test is expected to begin this month and will be for a limited amount of time. The specific titles and participating retailers are not being announced at this time.
Using Digonex’s patented DigitalOnlineExchange™ (DOE), a dynamic commerce engine that suggests changes to prices based upon behavioral principles, consumers can actively help set prices for select digital albums from WMG’s artists as part of this program. DOE will work with digital retailers to continuously identify the ‘sweet spot’ where prices follow perceived market value and generate the maximum economic return while providing fair prices for consumers.
“ We are fortunate to be working with visionaries at Warner Music Group on this groundbreaking pilot program.” said Jan Eglen, CEO of Digonex Technologies, “We’re confident that our technology has the potential to have a significant impact on digital album sales for the selected titles. ”
“ Digonex’s technology provides us a unique window into one of the key variables that impacts consumer behavior and by employing tools such as these we can continue to refine and improve our digital offerings,” said Larry Mattera, Senior Vice President, Digital Sales & Marketing, WEA Corp, WMG’s U.S. sales and marketing company.
About Digonex Technologies, Inc.
Digonex Technologies focuses primarily on development of automated and optimized pricing platforms for e-commerce, allowing client companies to increase customer retention, and maximize revenue. For more information, visit Digonex Technologies’ website at www.digonex.com
About Warner Music Group
Warner Music Group became the only stand-alone music company to be publicly traded in the United States in May 2005. With its broad roster of new stars and legendary artists, Warner Music Group is home to a collection of the best-known record labels in the music industry including Asylum, Atlantic, Bad Boy, Cordless, East West, Elektra, Lava, Nonesuch, Reprise, Rhino, Roadrunner, Rykodisc, Sire, Warner Bros. and Word. Warner Music International, a leading company in national and international repertoire, operates through numerous international affiliates and licensees in more than 50 countries. Warner Music Group also includes Warner/Chappell Music, one of the world's leading music publishers, with a catalog of more than one million copyrights worldwide.
WMG To Test Variable Pricing
WMG will soon begin experimenting with variable download pricing. Few details have been shared, but the trial will be powered by Digonex and technology already in use by Nettwerk, Naxos and PassAlong.
Using Digonex’s patented DigitalOnlineExchange, a dynamic commerce engine that suggests changes to prices based upon behavioral principles, consumers can actively help set prices for select digital albums from WMG’s artists as part of the program. DOE will work with digital retailers to continuously identify the ‘sweet spot’ where prices follow perceived market value and generate the maximum economic return while providing fair prices for consumers.
Indianapolis, IN. and New York, -- Digonex Technologies, Inc., announced today an agreement with Warner Music Group (NYSE: WMG) whereby Digonex will use its proprietary technology to recommend varying wholesale prices to WMG for select digital album downloads. The test is expected to begin this month and will be for a limited amount of time. The specific titles and participating retailers are not being announced at this time.
Using Digonex’s patented DigitalOnlineExchange™ (DOE), a dynamic commerce engine that suggests changes to prices based upon behavioral principles, consumers can actively help set prices for select digital albums from WMG’s artists as part of this program. DOE will work with digital retailers to continuously identify the ‘sweet spot’ where prices follow perceived market value and generate the maximum economic return while providing fair prices for consumers.
“ We are fortunate to be working with visionaries at Warner Music Group on this groundbreaking pilot program.” said Jan Eglen, CEO of Digonex Technologies, “We’re confident that our technology has the potential to have a significant impact on digital album sales for the selected titles. ”
“ Digonex’s technology provides us a unique window into one of the key variables that impacts consumer behavior and by employing tools such as these we can continue to refine and improve our digital offerings,” said Larry Mattera, Senior Vice President, Digital Sales & Marketing, WEA Corp, WMG’s U.S. sales and marketing company.
About Digonex Technologies, Inc.
Digonex Technologies focuses primarily on development of automated and optimized pricing platforms for e-commerce, allowing client companies to increase customer retention, and maximize revenue. For more information, visit Digonex Technologies’ website at www.digonex.com
About Warner Music Group
Warner Music Group became the only stand-alone music company to be publicly traded in the United States in May 2005. With its broad roster of new stars and legendary artists, Warner Music Group is home to a collection of the best-known record labels in the music industry including Asylum, Atlantic, Bad Boy, Cordless, East West, Elektra, Lava, Nonesuch, Reprise, Rhino, Roadrunner, Rykodisc, Sire, Warner Bros. and Word. Warner Music International, a leading company in national and international repertoire, operates through numerous international affiliates and licensees in more than 50 countries. Warner Music Group also includes Warner/Chappell Music, one of the world's leading music publishers, with a catalog of more than one million copyrights worldwide.
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