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Pandora to Buy Ticketfly for $450 Million

Friday, October 23, 2015   (0 Comments)

Wall Street Journal (10/07/15) Karp, Hannah

Pandora Media has announced an agreement to acquire Ticketfly for $450 million, thus becoming parent company to a provider of ticketing and marketing software for about 1,200 North American venues and event promoters. In 2014, Ticketfly sold 16 million tickets to more than 90,000 live events. Pandora's primary means of revenue, which amounts to about $1 billion annually, are sales of advertising that reach nearly 80 million listeners to custom “stations” built around songs or artists chosen by the user. Pandora CEO Brian McAndrews says the company is well-positioned to compete in the ticketing sector because of its massive database of the locations and listening habits of artists' fans worldwide. Ticketfly CEO Andrew Dreskin sees Pandora's direct access to users and related data as something that could inspire more venues and promoters to sign exclusive ticketing contracts with Ticketfly. McAndrews notes about 40 percent of tickets go unsold every year. “The main reason is that people don't know the artist is in town,” he says. McAndrews also says Pandora intends to shop concert tickets to listeners who have already “declared they love an artist by thumbing-up and thumbing-down songs.” He says Pandora has already begun to share fan data with artists to help them direct their tours, and has started permitting artists to send audio messages to their fans between songs.


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