iCopyright, the developer of services for protecting, licensing, and monetizing digital content, announced today that it has released a new content monetization tool for publishers, writers, and bloggers called Price Optimizer.
Price Optimizer is the first tool that helps establish market-driven pricing for digital content licenses. It automates market testing, taking the guesswork out of valuing digital content, and is expected to result in substantial increases in content licensing revenues. Price Optimizer is available at no cost to all publishers large and small who deploy the iCopyright Toolbar.
Price Optimizer helps publishers determine the most profitable fees to set for the republication and reuse of their online articles. It runs a 10-week automated live test on a publisher’s content, changing the licensing fees periodically to determine which pricing plans produce the greatest licensing revenue. This includes many types of instant licenses – such as republishing articles on other websites, in books and magazines, and as instant reprints.
Announcing this new feature, Dan Sauerhaft, Chairman of iCopyright, said:
“The goal is to take the guesswork out of setting instant license prices. We expect double- or triple-digit percentage increases in instant licensing revenues for publishers that adopt this empirical approach.”
Automated Testing Process
Publishers typically offer a dozen different types of instant licenses, with different rates based on quantity, and discounts for non-profit or educational customers. So there can be hundreds of licensing fees to set, which has historically discouraged price experimentation. Evaluating the results of different pricing levels is also difficult because page views can be different in each period.
iCopyright’s Price Optimizer automates all that. Every two weeks it adjusts the licensing fees, continuing the experiment for 10 weeks. It tracks the revenue and number of licenses sold under each set of fees, and adjusts for differences in page views in each period. When the test is over, Price Optimizer presents the results with user-friendly graphs.
With a single click the publisher can implement the pricing matrix that generated the most revenue for each service.
Simplify Testing, Maximize Revenue
Andrew Elston, iCopyright CEO, added:
“Every publisher and each website has unique content and a unique audience with different price sensitivities. For publishers of multiple websites, Price Optimizer will reveal the fees that best align with each audience and each site.
This empirical approach to establishing content licensing fees will assure publishers that they have maximized the opportunity to profit from their content.”
For further information call 206-484-8561, Ext. 3.
iCopyright provides licensing and clearinghouse services for digital content worldwide.
Since its founding over a decade ago, iCopyright has promoted and protected the proprietary rights of tens of millions of pieces of content for thousands of publishers and content creators. iCopyright also offers Discovery™, a content monitoring and infringement detection service for publishers that locates copies of content posted on the Internet and automates the recovery and remedy of infringed content, and Clip&Copy®, a free press-monitoring service.
iCopyright has received two CODiE Awards from the Software and Information Industry Association and has been repeatedly named to the annual list of EContent 100 Companies that Matter Most in the Digital Content Industry.