Pandora Buys Ticketfly

Internet radio site Pandora has acquired Ticketfly in a deal that’s being valued at approximately $450 million.

The agreement will connect Pandora’s nearly 80 million monthly active users to events, helping artists and promoters to sell more shows and strengthening the bond between artists and their fans, Pandora announced. 

“This is a game-changer for Pandora – and much more importantly – a game-changer for music,” said Pandora CEO Brian McAndrews. “Over the past 10 years, we have amassed the largest, most engaged audience in streaming music history. With Ticketfly, we will thrill music lovers and lift ticket sales for artists as the most effective marketplace for connecting music makers and fans.”

The companies are also planning to harness the power of their combined data to create new tools for the music industry to help increase revenues and improve recommendations.

“Ticketfly and Pandora are a perfect fit: two companies that are extraordinarily passionate about music and improving the experience for the entire ecosystem,” Ticketfly CEO Andrew Dreskin said. “The combination of Ticketfly and Pandora will be a marketing and event discovery powerhouse, giving venues and promoters unprecedented access to a massive and targeted audience of nearly 80 million music fans.”

Pandora’s made efforts in recent times to move beyond its internet radio roots with the addition of new marketing tools for artists including its Artist Marketing Platform and Artist Audio Messages. The acquisition of Ticketfly “builds on its progress to become an indispensable partner to music makers and create the leading data-enabled marketplace for artists and fans,” the company said.