Ticketfly revenue up as Pandora losses mount
The Pandora group has lost close to a quarter of a billion dollars this year, although ticketing revenues increased 25% year-on-year
News By | 26 October 2016
Pandora’s much-hyped US$450 million acquisition of Ticketfly in October 2015 is showing a growing return according to the company’s third-quarter (Q3) 2016 financial results, which show a 25% year-on-year hike in revenues from the ticketing service.
Ticketfly signed up a number of new partners in Q3, including promoter/venue operator Jam Productions, three festivals, ice-hockey team Shreveport Mudbugs and 12 US venues. The company’s turnover stood at $22.085m in the three months ending 30 September, while it reported $22.771m in Q2 and $22.265m in Q1.
No profit figures are available for Ticketfly specifically, but Pandora as a whole – which comprises Pandora proper (an internet radio and recently launched on-demand streaming service), Ticketfly, analytics business Next Big Sound and former rival radio service Rdio, which went bankrupt…
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