--
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.
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
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.
Chris Pohl for Digonex
317-638-4150 Ext. 222
chrisp@digonex.com
Amanda Collins
Warner Music Group
212-275-2213
amanda.collins@wmg.com
All
product and company
names herein may be
trademarks of their
respective owners. |
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