"But is it worth it?"
Being the first in the streaming music scene, Pandora had the lion's share of the market. However, sustaining it is another story. In order to ensure their business will stay on the top of its game, they announced a $450-million worth acquisition of the San Francisco ticketing company Ticketfly Inc.
But is it worth it? In the past, Pandora had already struggled with challenges including an inconsistent profit from their efforts, stiff competitions from other music streaming companies like Spotify and music download services including Apple Music. In fact, Pandora's stocks are experiencing 50% down from a high they experienced last year.
Pandora's stocks are experiencing a 50% down from a high they experienced last year.
Will this acquisition be like opening Pandora's box full of horrors? Perhaps, but like in the mythical story, there's hope in it. TicketFly is known for providing ticketing and marketing software for more than a thousand of venues and event promoters. With 16 million tickets sold to more than 90,000 live events last year, it does look promising for Pandora.
Will this acquisition be like opening Pandora's box full of horrors?
However, acquiring a successful company doesn't always equate for a good turn out. If Pandora plays it right and marries their streaming music expertise with the live music opportunity presented by Ticketfly then there might really be a great leap that their company might experience soon enough.