Published Oct 07, 2015Online radio company Pandora is looking to extend its influence on users' musical experience, having just bought events technology company and Ticketmaster competitor Ticketfly for $450 million US.
A press release describes the move as a step towards creating "the definitive music platform for connecting fans, artists and event promoters" — be it through headphones or at a live venue.
The collaboration aims to allow Pandora's 80 million users to seamlessly discover live events related to their listening habits and acquire tickets, while simultaneously allowing artists to grow their fanbases and promoters to ultimately sell more tickets. The press release continues to say that Pandora and Ticketfly will "harness the power of their combined data to create new tools for music makers to increase their revenue and improve recommendations for fans to enhance their overall music experience."
A current feature enables artists to send audio messages to fans that can include information like upcoming tour dates; with the acquisition of Ticketfly, Pandora will now own the transactions from artist message to ticket purchase. The additional data from Ticketfly's services will also allow Pandora to improve music and event recommendations to its users.
"Live music is booming, and we can grow the number of shows being staged and tickets being sold," explained Pandora CEO Brian McAndrews in a statement to the press. "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."
Ticketfly's co-founder and CEO Andrew Dreskin added, "Pandora's entry into live events is a watershed moment for the music industry and will forever change the landscape for artists, promoters and fans. Ticketfly and Pandora are a perfect fit: two companies that are extraordinarily passionate about music and improving the experience for the entire ecosystem."
Back in 2013, Ticketfly expanded into Canada and has since grown by acquiring Northern Tickets earlier this year. It should be noted, however, that Pandora is not available in Canada.