Pandora acquires Ticketfly for $450 million
Before Apple Music and Tidal recruited a plethora of superstars to attract fans to their respective services, Pandora became one of the music industry’s most popular applications. Now branching out with a new acquisition, the California-based company has announced its official ownership of Ticketfly. A service similar to Ticketmaster, the company distributes tickets for more than 1,150 venues across the United States. Shortly after it was founded in 2008, the online ticketing platform received funding from high-profile investors like SAP Ventures and High Peaks Venture Partners.
“This is a game-changer for Pandora – and much more importantly – a game-changer for music,” said Brian McAndrews, chief executive officer at Pandora. “Over the past 10 years, we have amassed the largest, most engaged audience in streaming music history. With Ticketfly, we will thrill music lovers and lift ticket sales for artists as the most effective marketplace for connecting music makers and fans.”
The deal strategically follows last year’s introduction of Pandora’s Artist Marketing Platform, which provides vital information to musicians such as what songs are being played, and where. Presumably, Pandora plans to use their extensive database of users to provide a more focused ticket buying experience to music fan’s across the United States.
Via: Tech Crunch