Ticketfly's deal-making continues post Pandora acquisition
SAN FRANCISCO, Jan. 28, 2016 /CNW/ -- Ticketfly, the technology company reimagining the live event experience, today announced it has completed the acquisition of TicketBreak, the ticketing service company owned by MapleCore Ltd., a leading Canadian independent music company. This acquisition broadens Ticketfly's presence in the North American festival space and signals its expansion into casino entertainment.
2015 was another record-breaking year for Ticketfly. The company processed 19 million tickets, generated over $600 million in gross ticket sales, and added over 500 new clients. Ticketfly powers more than 600 websites on behalf of its clients making it the leading provider of website technology to the live events industry.
"The acquisition of TicketBreak is yet another illustration of how Ticketfly is redrawing the live events landscape. TicketBreak is our third Canadian acquisition, and the second in the last twelve months. The only thing bigger than Ticketfly in Canada is The Tragically Hip," said Andrew Dreskin, co-founder and CEO of Ticketfly. He added, "We're fired up to welcome TicketBreak and its clients to the Ticketfly family, and are looking forward to sharing our platform with more great venues and fans across Canada."
Ticketfly's Canadian operations have grown rapidly since establishing an office in Toronto three years ago. Last year, the company processed 1.4 million tickets in Canada, generating over $65 million Canadian in gross ticket sales, representing annual growth in excess of 60 percent. Via its acquisition of TicketBreak, Ticketfly will add 48 new venues and promoters to its Canadian roster, joining more than 120 pre-existing partners in Canada including The Vogue Theatre, Union Events, Collective Concerts, Inertia Entertainment, and Atomique Productions.
"Ticketfly has made great efforts to ensure that our clients will continue to receive the excellent support and service that TicketBreak has offered," said Iain Taylor, CEO of MapleCore. "This move supports our company's strategic refocusing on other areas of the music business while providing TicketBreak clients with opportunities to serve their customers with Ticketfly's top level live events technology."
Ticketfly Canada General Manager Bruce Morrison adds, "We're committed to the continued success of TicketBreak's clients. Our outstanding Toronto-based team will ensure a smooth transition for all of our new partners and provide them with the best-in-class service for which we're known."
Since its founding in 2008, Ticketfly has become a market leader by establishing and maintaining a strong track record of innovation, as well as through its M&A strategy. In late 2015, Ticketfly joined forces with Pandora to create the world's most powerful music discovery platform and together become an indispensable partner to event promoters and music makers.
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Ticketfly, a subsidiary of Pandora, is a technology company reimagining the live event experience for promoters and fans. Its powerful ticketing, digital marketing, and analytics software helps promoters sell more tickets, streamline operations, and increase revenue per attendee, while its consumer tools make it easy for fans to find and purchase tickets to great events across North America. Since 2008, more than 1,200 leading venues and promoters have partnered with Ticketfly, including Merriweather Post Pavilion, the Brooklyn Bowl, Central Park SummerStage, Pitchfork Music Festival, and Burning Man. Ticketfly is led by Andrew Dreskin, co-founder of TicketWeb, the first company to ever sell tickets online. In 2014, Ticketfly crossed the $1B mark in transaction volume and in 2015 it was named one of Fast Company's "Most Innovative Companies in Music."