Pandora, the streaming music company, has just said that they are buying ticket seller Ticketfly for $450 million. Pandora says that 80 million people use their service each month for music and comedy. The combination, they believe, will allow them to use their data to tell fans when bands will be in town and to sell tickets.
As Stifel Nicolaus analyst John Egbert said,
“We believe this acquisition closes the loop for Pandora by creating a one-stop-shop for artist discovery, marketing, and concert ticket sales. Pandora can now share in the upside of live music industry growth that is undoubtedly being driven in large part by rapid growth in streaming music consumption.”
Egbert believes that the sale will make Pandora “the premier platform for independent artist marketing.”