Pandora to become a major player in ticketing

The majority of subscribers of Pandora, the biggest name in radio music streaming, would rather listen to music for free. But now the company is hoping that these listeners will shell out some cash to hear live music. Pandora is now venturing into the lucrative world of events promotion and ticketing by acquiring Ticketfly, the biggest independent ticket retailer in the US for $450 million in stock and cash. It’s a match made in music heaven. The deal gives Pandora a chance to create an ecosystem that bridges streamed music and live events. In addition to playing music for its subscribers, it can now generate more money by selling tickets for live concerts and provide a potential financial benefit for artists. This kind of integration delivers a seamless service not being offered by other music streaming companies. This deal follows Pandora’s acquisition of the Next Big Sound, an online music analytics platform that tracks artists in May of this year.
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