Dynamic pricing software developer Digonex Technologies, which last week announced a partnership deal with international primary ticket company Ticketpro, is hoping the arrangement will spearhead its expansion beyond North America. Under the agreement, Ticketpro will utilize Digonex’s Sports & Entertainment Analytical Ticketing System (SEATS) to implement dynamic pricing throughout its ticket sales network in countries such as Russia, the Czech Republic, China, India and Poland.
According to Digonex’s chief operating officer and general counsel Jeremy Eglen, the partnership between Digonex and Ticketpro began to form over the past year, which he attributed to the technological compatibilities between the two companies.
“Tickepro is a very tech savvy company, which contributed to their decision to work with Digonex. Similarly, Ticketpro’s system is such that it will be relatively easy for Digonex to work with quickly,” Eglen told TicketNews.
Eglen said he sees the partnership with Ticketpro as a win-win for both companies. “It’s a great opportunity for demonstrating the versatility and ability of SEATS. Ticketpro has such a wide range of events, so they need a system that is automated, quick, and scientifically proven to give them the best results possible. Digonex meets those requirements.”
The agreement between the two companies is set to last for five years, which will give them both an opportunity to implement SEATS over an extended period of time. According to Eglen, the current plan is to “ramp things up over time,” taking time to “choose the events that make the most sense with which to implement the system,” which will give both companies a chance to assess the various needs of the different countries in Ticketpro’s international market.
Eglen also does not foresee any problems in implementing SEATS in Ticketpro’s various international markets. “The SEATS system is currency agnostic, so the various currencies will not pose a problem. In terms of other possible issues, we are relying on Ticketpro’s vast experience in the various countries, as they have been selling tickets in those sixteen countries for some time.”
In terms of what this new partnership will mean for both Ticketpro’s consumers and sellers, Eglen stressed that the goal is to get the best price for all those involved in the transaction – buyer, seller, and Ticketpro. While some might believe that the use of dynamic pricing will cause all ticket prices to rise, Eglen says that’s not necessarily the case.
“For example, if you are selling lots of tickets to a single event, people think you should just raise the price. Often, that isn’t true. You can often make more by lower the price and making more from ancillary sales such as parking or concessions. It’s a way everyone can win without the idea that a company is price gauging.”