Techcrunch reports that Pandora will purchase Ticketfly for roughly $450 million. Brian McAndrews, the streaming service's CEO, released an enthusiastic statement about the acquisition. "This is a game-changer for Pandora—and much more importantly—a game-changer for music. 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."
McAndrews continued to stress the importance of Pandora's move into live music. "Live music is booming, and we can grow the number of shows being staged and tickets being sold," he noted. "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."
Ticketfly's CEO, Andrew Dreskin, used similar language in a statement of his own. "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... 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."