Music streaming service Pandora has acquired ticketing company Ticketfly for $US450 million.
In a statement announcing the move, Pandora says the acquisition will make it easier for its users to find live concert tickets. However, it did not say exactly how the service would be integrated with Pandora’s product.
“Pandora’s acquisition of Ticketfly takes the company beyond its internet radio roots and builds on its progress to become an indispensable partner to music makers and create the leading data-enabled marketplace for artists and fans,” the statement says.
In 2014 Ticketfly sold 16 million tickets to more than 90,000 live events, generating more than $500 million.
Pandora co-founder and chief executive of Ticketfly Andrew Dreskin says the two companies are a perfect fit.
“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,” he says.
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