We recently reported on the huge year for Live Nation Entertainment and their live show ticket sales, and now Pandora is in on the fun. The massively popular internet radio has agreed to buy Ticketfly, a huge competitor for Live Nation’s Ticketmaster, for $450 million.
This makes sense considering Pandora’s Artist Marketing Platform (AMP) that was introduced last year. Both AMP and Next Big Sound, also purchased by Pandora, are data services which study the listening and searching patterns of streaming music customers. This could pose as a challenge for the ticket-world dominating Ticketmaster, if Pandora continues its history of using its user data for marketing.
Ticketfly appealed to Pandora with its $500 million in sales over approximately 16 million tickets. The company boasts clients such as Brooklyn Bowl and Pitchfork Music Festival, and plans to continue to grow their base. Pandora Chief Executive Brian McAndrews says that “With Ticketfly, we will thrill music lovers and lift ticket sales for artists as the most effective marketplace for connecting music makers and fans”. Ticketfly CEO and COO adds that “The combination of Ticketfly and Pandora will be a marketing and event discovery powerhouse”.
To read more about the new acquisition, head on over to New York Times.