Pandora To Acquire Ticketfly
October 7, 2015 at 5:20 AM (PT)
PANDORA has entered into an agreement to acquire TICKETFLY, INC., a leading live events technology company. The company said, "the move is the latest step toward achieving PANDORA’s mission to help artists find their audience and help listeners find the music they love -- whether it’s coming through their earbuds or live on stage."
TICKETFLY provides ticketing and marketing software for approximately 1,200 venues and event promoters across NORTH AMERICA.
The transaction is valued at approximately $450 million, subject to certain purchase price adjustments, with a nearly equal balance of cash and stock.
“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.”
“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,” said TICKETFLY Co-Founder/CEO ANDREW DRESKIN. “TICKETFLY and PANDORA are a perfect fit: two companies that are extraordinarily passionate about music and improving the experience for the entire ecosystem. 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.”
TICKETFLY Co-Founder/CEO ANDREW DRESKIN sent out the following message.
To our valued fans:
What a day! Earlier, we announced that PANDORA will be acquiring TICKETFLY to create the world’s most powerful live events and music discovery platform.
We are incredibly excited about all the ways that this will help make live event experiences even better for you. Together, we will tackle the longstanding problem of event discovery and harness our combined data to help you find out about more great events. For now, you can continue to purchase tickets on TICKETFLY.
We’re fired up to be joining forces with PANDORA, a company that shares our passion for making live entertainment a bigger part of people’s lives.
Thanks for all of your continued support. Cheers!