Ticketfly registered a 25-per-cent year-on-year increase in revenue in the third quarter of 2016, according to the latest figures from the ticketing service’s parent company, Pandora.
Ticketfly generated $22.085m (£18.14m/€20.23m) in sales in the three months through to September 30, slightly down from $22.771m in the second quarter and $22.265m in the first quarter.
Pandora generated a total loss of $55.2m in the third quarter, but the company’s founder and chief executive, Tim Westergren, remains confident of the outlook.
“Pandora’s transformation continues with the launch of compelling new products and partnerships that open up significant revenue streams,” Westergren (pictured) said.
“Only Pandora is uniquely positioned to create deeply personalised and easy-to-use listening experiences that delight and engage listeners.”
As reported by TickTechNews.com, Ticketfly chief executive Andrew Dreskin earlier this month hailed Pandora’s impact on the ticket vendor over the 12 months since its purchase by the music streaming company.
Dreskin, who sold Ticketweb to Ticketmaster for $35m in 2000, founded Ticketfly in 2008 and agreed to sell it to Pandora for $450m in October 2015.
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