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Business

Pandora pushing into concert ticketing business

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Opening sequence

Business

Pandora pushing into concert ticketing business

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COMING UP:Pandora pushing into concert ticketing business

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00:00:02
>> Pandora listeners won't have to hunt to find out when their favorite bands are in town anymore. The online radio service announcing it's most concrete ticketing plans yet on Wednesday, as it hunts for new revenue streams. Users will get concert recommendations and be able to buy tickets through Ticketfly without leaving the Pandora app.
00:00:18
The company wants to keep the momentum going after buying Ticektfly for $450 million last year. With competitors such as Spotify and Apple Music breathing down it's neck Pandora has to step up its game. Analysts think that Pandora needs to find new ways of making money, because the company still hasn't made a profit since it went public in 2011.
00:00:36
Pandora's new service will rely heavily on its own data, showing what users already listen to, to get a competitive advantage, Pandora Chief Operating Officer Sarah Clemens says. Clemens also said a system that will make it easier for promoters and concert halls to target the right crowds for live events is in the works.