You will be redirected back to your article in seconds

Pandora Buys Ticketfly to Sell Concert Tickets to Its Listeners

Personalized online radio service Pandora has acquired Ticketmaster competitor Ticketfly for around $450 million in cash and stock. The acquisition could help Pandora diversify its revenue, and puts its music intelligence to good use to target potential concertgoers.

Ticketfly sells concert and other types of event tickets for around 1200 venues and festivals in the U.S. and Canada, including the Pitchfork Music festival and Burning Man. The company sold 16 million tickets in 2014. That’s a far cry from some of the competition, with industry leader Live Nation selling 184 million tickets during the same year.

But concert tickets are also a high-margin business, and arguably one of the few areas of the music business that’s still growing. For Pandora, that means another source of revenue. At the moment, Pandora makes most of its money with advertising, with a smaller chunk coming in through paid subscriptions. During its most recent quarter, Pandora’s total revenue reached $285.6 million.

Interesting about the partnership is that Pandora already has a ton of knowledge about its users music preferences, with close to 80 million people listening to and in many cases rating music on the service every month. Combine that with the location data that Pandora gathers from its mobile apps, and you got perfect targeting for concert tickets.

The acquisition was first reported by Recode.

More Digital

  • Alibaba Buys 8% Stake in Chinese

    Alibaba Buys 8% Stake in Chinese Video Platform Bilibili

    Alibaba has purchased an 8% stake in the Chinese online video platform Bilibili, the official Xinhua news agency reported. Bilibili is one of China’s top video streaming and entertainment platforms, with about 92 million monthly active users and 450 million page-views per day. Founded in 2009, it was listed on the NASDAQ last March. Alibaba’s [...]

  • Clevver-Logo

    Hearst Magazines Buys Clevver's Pop-Culture YouTube Channels After Defy's Demise

    Hearst Magazines has snapped up Clevver, a network of female-skewing lifestyle and pop-culture news YouTube channels that had been owned by now-defunct Defy Media. Clevver was left homeless after Defy’s sudden shutdown in November; its principals said at the time they were looking for a new home. Hearst Magazines sees a digital fit with Clevver’s [...]

  • "Brother" -- Episode 201-- Pictured (l-r):

    CBS Interactive's Marc DeBevoise on Streaming Boom, Content Strategy, and Apple

    Not everyone wants or needs to be Netflix to succeed in the streaming space. And not everyone sees Apple’s enigmatic new service as a threat. Even as rival streaming services offer gobs of content, CBS Interactive’s president and COO Marc DeBevoise sees the company’s targeted original programming strategy continuing to attract viewers to its All [...]

  • Rhett-Link-Good-Mythical-Morning

    Rhett & Link's Mythical Entertainment in Talks to Acquire Smosh (EXCLUSIVE)

    Smosh, the YouTube comedy brand left stranded after parent company Defy Media went belly-up, may be about to get a new business partner. Mythical Entertainment, the entertainment company founded by top YouTube comedy duo Rhett & Link, has been in talks about acquiring the Smosh brand, sources told Variety. Multiple potential buyers came forward to [...]

  • Pokemon Go

    Proposed 'Pokémon Go' Lawsuit Settlement May Remove Poké Stops, Gyms

    A proposed settlement in the class action lawsuit against “Pokémon Go” developer Niantic could remove or change a number of Poké Stops and Gyms in the popular augmented reality game. The proposed settlement was filed in a California court on Thursday and applies to anyone in the U.S. who owns or leases property within 100 meters [...]

  • Skyline of Doha at night with

    Qatar's beIN Rallies Support From U.S. Companies Against Pirate Broadcaster beoutQ

    Qatari powerhouse beIN Media Group has rallied support from American sports and entertainment entities, including Discovery and Fox, behind its request that the U.S. government place Saudi Arabia on its watch list of top intellectual property offenders. The Doha-based broadcaster, a state-owned spinoff of Al Jazeera news network, accuses the Saudi government of harboring pirate broadcaster [...]

More From Our Brands

Access exclusive content