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Taiwan Music Streamer KKBox Invests in Ticket Vending Startup WalkieTicket

Thursday, June 11, 2015   (0 Comments)

Tech in Asia (04/24/15) Horwitz, Josh

Taiwanese music streaming company KKBox recently announced an investment in local ticket vending startup WalkieTicket, which will make KKBox WalkieTicket's biggest institutional shareholder. WalkieTicket cooperates with local sellers to vend tickets for concerts and events. Users can buy tickets directly via WalkieTicket's website and apps, or through one of several third parties, including the Taiwan Family Mart convenience store chain. KKBox's KKTix ticket-vending service was rolled out early last year, not long after the launch of Spotify in Taiwan, and the investment will involve the complete integration of KKTix and WalkieTicket's teams and technology. KKTix can help drive ticket sales through traffic on its music streaming app, and WalkieTicket can give KKTix access to its vendor network. KKBox also can tap its database of users' listening habits to recommend upcoming events. The music streaming company currently charges about $5 a month to users for music library access, and it can be accessed in Malaysia, Hong Kong, Singapore, Japan, and Thailand. As of last year, KKBox had more than 2 million paying subscribers.


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