PRESS RELEASE: “DIGONEX NAMED WORLDWIDE PREFERRED DYNAMIC PRICING PROVIDER FOR TICKETPRO”
INDIANAPOLIS (Digonex Technologies) January 18, 2011 – Leading pricing software developer, Digonex Technologies, Inc., today announced that they have been named Ticketpro’s worldwide preferred dynamic pricing provider. Ticketpro sells millions of tickets every year via its distribution network and has active operations in Belarus, Bulgaria, Canada, Chile, China, Croatia, the Czech Republic, Estonia, Greece, Hungary, India, Italy, Latvia, Lithuania, Malaysia, Poland, Russia, the Slovak Republic and the United States.
“Dynamic Pricing, identified as revenue management in the airline industry, the field of commerce that has so far benefited the most from this pricing approach, has been a fast growing topic in the live entertainment world in recent years. The emergence of dynamic pricing in the event ticketing industry has finally materialized recently in sports, thanks to Digonex, and it is growing at a fast pace. It is about time it enters the live music and family entertainment playgrounds,” said Serge Grimaux, CEO of Ticketpro. “Digonex’s platform allows us to offer our clients with a yield management solution helping them to realize greater revenues without infringing the fan experience in any way, shape or form. Everybody wins! The live entertainment industry is most likely the closest field of activity to the airline industry: the margins are extremely small, the inventory is terribly perishable, the competition is intense, both are seasonal businesses and the customer does not care how much their neighbors have paid to be sitting beside them, they just want to be there. We will get them there, and at the right price.”
Ticketpro will utilize Digonex’s Sports & Entertainment Analytical Ticketing System (SEATS™), the first fully automated, dynamic pricing system for event ticketing that systematically changes prices based upon econometric and behavioral principles. SEATS uses dozens of parameters to calculate the best price for event tickets, including seat quality, number of performances, rival performances, and third-party offerings and sales patterns. The system also helps organizations tackle the issues of ticket cannibalization, substitution, and secondary ticket sales, taking into consideration the impact of high prices driving consumers to lower-priced tickets or different event dates.
“We are very excited to work with Ticketpro,” said Jan Eglen, CEO of Digonex. “They have one of the most sophisticated and efficient ticketing operations in the world. Coupled with our technology, Ticketpro can now offer dynamic pricing that is market driven and both consumer and seller friendly.”
Digonex’s partnership with Ticketpro will span the next five years with the number of events and venues that will be dynamically priced increasing over that time period.
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 Ticketpro
Ticketpro is a leading provider of ticketing services with active operations in Belarus, Bulgaria, Canada, Chile, China, Croatia, the Czech Republic, Estonia, Greece, Hungary, India, Italy, Latvia, Lithuania, Malaysia, Poland, Russia, the Slovak Republic and the United-States, serving a majority of the foremost local entertainment facilities and promoters. For more information, visit Ticketpro Technologies’ website at www.ticketpro.biz.
Media Contact:
Chris Pohl for Digonex
317-638-4150 Ext. 222
[email protected]
