Mumbai: Digonex Technologies announced an agreement with Warner Music Group 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 Digital Online Exchange (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 Digonex Technologies CEO Jan Eglen, "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, WEA Corp, WMG’s U.S. sales and marketing company senior vice president, digital sales & marketing Larry Mattera.