Pandora Just Bought Ticketfly For Nearly Half a Billion Dollars

Illustration for article titled Pandora Just Bought Ticketfly For Nearly Half a Billion Dollars

Your favorite internet radio service will soon make it easier to buy concert tickets. Pandora just bought Ticketfly, a Ticketmaster competitor, for $450 million. Why? Because it’s a great idea.

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Pandora’s been scrambling to grow and diversify its offerings to music lovers for a while now. In the past year, the company’s bought created a data tool, the Artist Marketing Platform (AMP), and bought a data startup, Next Big Sound,in order to provide a better picture of what people are listening to and looking for. With the purchase of Ticketfly, an innovative ticket sales platform, Pandora can now help music fans get their asses to some great shows.

What’s especially exciting about Pandora’s acquisition, however, is the fact that it might mean that Ticketfly can really give the evil Ticketmaster a run for its money. Ticketmaster is owned by the multi-billion dollar conglomerate Live Nation and controls ticket sales for the vast majority of concert venues in the country. (Fortune reported in 2013 that Ticketmaster controlled 80% of venues.)

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We don’t yet know how Pandora will integrate Ticketfly into its own service, but it’s exciting to imagine the possibilities. Because honestly, anything is better than the status quo.

[New York Times]


Contact the author at adam@gizmodo.com.
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DISCUSSION

Who keeps giving Pandora money? Seriously, they have lost $86 million in the last 3 years. How the hell do they have half a billion dollars?

I don’t get this. I know it’s venture capitalists behind it, but for the life of me I don’t get how a company can lost money year after year, never make a profit, spend half a billion they don’t have for purposes unknown and people think it’s a good move.