Internet radio service Pandora has purchased Ticketfly.
Ticketfly, a formerly independent ticket buying services, was purchased by Pandora for $450 million in cash and stock, as reported by Pitchfork. A statement from Pandora reads, ‘The move is the latest step toward achieving Pandora’s mission to help artists find their audience and help listeners find the music they love—whether it’s coming through their earbuds or live on stage.’
“This is a game-changer for Pandora – and much more importantly – a game-changer for music,” added Brian McAndrews, chief executive officer at Pandora, to the statement. “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.
Pandora’s reign in the music business, from starting as a streaming service to curating music festivals, could progress through Ticketfly, with a reported 16 millions tickets sold in 2014.
In the past, Pandora has had issues with artists royalties, ranging from Pink Floyd to BMI themselves.
“Live music is booming, and we can grow the number of shows being staged and tickets being sold,” continued McAndrews. “Attending a live show is powerful, and we want to make it easier for all music fans to enjoy live music. By acquiring Ticketfly, we will bring live events more fully into the fold, enhancing the Pandora experience.”
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