Event tech platform Eventbrite has entered an agreement with Pandora to acquire ticketing platform Ticketfly for $200 million.
Additionally, Eventbrite and Pandora plan to enter into a future distribution agreement to extend the benefits already proven out with the Pandora and Ticketfly integration.
Ticketfly’s co-founder and CEO Andrew Dreskin will lead Eventbrite’s music efforts. “We are happy to be joining forces with our friends at Eventbrite,” said Dreskin.
“The combination of Ticketfly and Pandora proved our thesis that listeners want easy access to live events, and that we have the ability to promote and sell tickets at scale in a highly targeted way,” said Tim Westergren, CEO and founder of Pandora. “We look forward to expanding the opportunity to bring fans and artists together through our continued partnership with Eventbrite and Ticketfly.”
“The whole is greater than the sum of its parts, and we see immense alignment and opportunity with this union, especially as we continue to expand Eventbrite’s global footprint in music,” said Julia Hartz, CEO and co-founder of Eventbrite.“Together with Ticketfly, we will focus our collective energy on further developing our unparalleled solution and superior services for indie music venues and promoters around the world.”
Eventbrite is set to process approximately 200 million tickets, worth $3 billion in gross sales in 180 countries, in 2017. Ticketfly works with over 1,800 music promoters and venues across North America, supporting 100,000 events per year which generate $600 million in gross ticket sales.
The acquisition announcement follows Eventbrite’s acquisition earlier this year of European ticketing company Ticketscript, and builds upon the traction the company has experienced in music since the launch of Eventbrite Venue, the first fully integrated booking, operations and ticketing solution for live music venues.
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