Streaming music might be the king of the music industry right now, but that does not mean a rosy picture for every streaming service out there. The every-struggling Pandora was looking for a savior and finally found one in SiriusXM. Sirius will investe $480m into the company for a 16% ownership.
To help Pandora lighten the load even more, it has jettisoned Ticketfly and sold it to Eventbrite for $200m (originally purchased for $450m in 2015). At one point Sirius was rumored to be interested in buying the service completely, but this move gives Pandora funding and time to determine its own future. As of now, the service continues to remain mostly free while other streaming platforms run on subscriptions.
Now Pandora can return its focus back to music streaming with less distractions concerning event ticket sales. Do you still listen to Pandora? Sound off in the comments.