Pandora, a leading streaming service among other things, is set to take the next step in the music industry with this new deal. Last month they also acquired Next Big Sound, a music data service, which allows them to enhance data collected from their users. Now with this new deal Pandora has set itself up with a new revenue stream.
“This is a game-changer for Pandora – and much more importantly – a game-changer for music,” said Brian McAndrews, chief executive officer at Pandora. “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.”
This deal is a crucial step for Pandora to bring fans, artists and now event promoters together. Other streaming services like Spotify and Apple Music have threatened Pandora's hold as the leading streaming service in the industry, but Pandora has managed to hold onto that designation for he time being.
“Live music is booming, and we can grow the number of shows being staged and tickets being sold,” states McAndrews. “Attending a live show is powerful, and we want to make it easier for all music fans to enjoy live music. By acquiring Ticketfly, we will bring live events more fully into the fold, enhancing the Pandora experience.”
It's a big move by Pandora and one that surely makes their services even more valuable. With the data collected by Ticketfly to now be included, they will be able to improve on their music and concert recommendations to users. Crucial insight for any music lover in search of something new.