Posted by Glen Sears | October 12, 2015 12:24 pm | No Comments
Story of the Week
Pandora Buys Ticketfly for $450 Million
Pandora’s acquisition of ticketing company Ticketfly, announced today, marks a seismic shift in the way digital music companies serve artists. While artists and labels continue to publicly debate streaming royalties and harbor great uncertainty about their future, the leading Internet radio service made a move that will strengthen the link between listening and live events, and provide a potential financial boon for artists. Rights holders will still push for higher royalties, but artists will push for tools that help their careers in other ways.
Artists stand to win big, as they seek ways to leverage streaming services in order to reach fans new and old. They will eventually be able to tap into Pandora’s 80 million monthly listeners, nearly all of them in the United States, creating a bridge between listening — which currently results in a 0.14-cents royalty per ad-supported stream — and the live events that can account for the majority of an artist’s revenue. Whereas most promotional channels are expensive, Pandora provides a direct path, free of charge, to the fans most likely to buy concert tickets.
Read More on Billboard: http://bit.ly/1G1IgN7
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