This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Business News Digital Live Business
Pandora considering Ticketfly sale
By Andy Malt | Published on Wednesday 17 May 2017
American streaming firm Pandora announced last week that it was considering selling itself off to a bigger company as part of one of those strategic review things. Another option, it now emerges, is to just get shot of Ticketfly, the ticking company it acquired in late 2015.
According to Bloomberg, sources have said that selling off Ticketfly would be a back up option if a full sale of the streaming company could not be achieved.
This would leave the company focusing solely on streaming, which would suggest a couple of things. First, that diversifying into selling tickets hasn’t created the kind of useful lucrative extra revenue stream Pandora hoped. And second, that it thinks it can still turn a profit by providing streaming services alone.
As previously reported, Pandora recently raised $150 million in new investment from KKR by creating a load of new shares. This money is seemingly aimed to keep the company – which reported losses of $132 million in the first quarter of this year – afloat long enough to find a buyer. It’s likely any new owner would look to streamline the operation in order to boost revenues, which may mean that Ticketfly’s sale is assured whatever happens.
