Ticketfly Partners with Lyte on a Fan Ticket Exchange

SAN FRANCISCO, Jan. 20, 2017 /PRNewswire/ -- Ticketfly, the technology company delivering the world's most powerful platform for connecting fans with live events, and a subsidiary of Pandora (NYSE: P), today announced a partnership with Lyte, the developer of the leading fan-to-fan ticket exchange, to allow fans to safely resell and purchase tickets for sold out shows. The first Ticketfly clients to offer the exchange include The Bomb Factory and Trees in Dallas; Marathon Music Works in Nashville; Bimbo's 365 Club in San Francisco; and Whitewater Music Amphitheatre outside of Austin. Together, Ticketfly and Lyte aim to solve two longstanding problems with live events: fans purchase tickets to events they can no longer attend and want to return their tickets; and conversely, fans want tickets to sold out shows and can't get them.

"For many years I have mulled over how to best tackle the safe and secure resale of tickets for our clients and ticket buyers," said Andrew Dreskin, Ticketfly's CEO and co-founder. "One that keeps the tickets in the hands of true fans, keeps control of the experience in the hands of our clients, ensures that the house is full for the artists, and renders obsolete scalpers who leach off the primary ecosystem. Lyte is that answer. We are delighted to be in business with these guys."

By verifying transferred tickets and keeping them within the fan community, Ticketfly and Lyte are helping venues and promoters provide a consistent, secure, and on-brand experience to all fans, whether those fans bought tickets at the onsale or after the show sold out. Not only will venues and promoters spend less time managing fraudulent tickets and disappointed fans, they will also have fewer empty seats and enjoy increased revenue from the resulting spend on concessions and merchandise. Venues and promoters will also get accurate data on who actually attended the show, and a better understanding of the true pricing and demand for their events. The Lyte-Ticketfly solution requires no additional work for Ticketfly clients. Turn it on and Lyte and Ticketfly take care of the rest.

Thomas Cussins, Talent Buyer at Ticketfly partner venue The Catalyst in northern California says, "Lyte's platform keeps tickets in the hands of my real fans and out of the hands of scalpers. Lyte has kept down secondary market ticket prices and helped me reduce fraud. I couldn't be more pleased with the service and functionality!" 

When Lyte is enabled, no-show rates have dropped by as much as 65%, which means artists will be more likely to play to a full house and enjoy increased spending at the merch booth. In addition, artists will cultivate deeper relationships with more fans, who are then more likely to go out and stream their music, buy their albums, and purchase tickets to future shows.

Ant Taylor, founder and CEO of Lyte, says: "Lyte takes control of the fan experience away from anonymous third parties and puts it back in the hands of venues and promoters. Lyte provides the most transparent, secure, and seamless solution for exchanging tickets. That is what fans deserve and eventually, what they'll demand. In Ticketfly, we have a partner who catalyzes our mission. We are proud to apply our technology in the service of their incredible client base."

Lyte provides all fans a safe, hassle-free way to exchange tickets for sold out shows, and gives venues and promoters a best-in-class solution to the pain points resulting from the traditional secondary market. Ticket exchanges powered by Lyte are yet another step toward realizing Ticketfly's vision for live events: fans never miss a show, and the house is always packed.

For media/investor inquiries, please contact:
Rachel Durfee, Director of Communications, Ticketfly
press@ticketfly.com

ABOUT TICKETFLY
Ticketfly, a subsidiary of Pandora, is the technology company delivering the world's most powerful platform for connecting fans with live events. Its powerful ticketing, digital marketing, and analytics software helps promoters sell more tickets, streamline operations, and increase revenue, while its consumer tools make it easy for fans to find and purchase tickets to great events across North America. Since 2008, 1,700 leading venues and promoters have partnered with Ticketfly, including Merriweather Post Pavilion, Bowery Ballroom, the Brooklyn Bowl, Central Park SummerStage, Pitchfork Music Festival, and The Troubadour. Ticketfly is led by Andrew Dreskin, co-founder of TicketWeb, the first company to ever sell tickets online. Ticketfly process more than half a billion dollars in ticket sales annually, and has twice been named one of Fast Company's "Most Innovative Companies in Music."

ABOUT PANDORA
Pandora is the world's most powerful music discovery platform - a place where artists find their fans and listeners find music they love. We are driven by a single purpose: unleashing the infinite power of music by connecting artists and fans, whether through earbuds, car speakers, live on stage or anywhere fans want to experience it. Our team of highly trained musicologists analyze hundreds of attributes for each recording which powers our proprietary Music Genome Project®, delivering billions of hours of personalized music tailored to the tastes of each music listener, full of discovery, making artist/fan connections at unprecedented scale. Founded by musicians, Pandora empowers artists with valuable data and tools to help grow their careers and connect with their fans.

ABOUT LYTE
Lyte provides the most transparent, secure, and seamless solution for exchanging tickets to sold out events. The platform applies powerful pricing software to maximize attendance, reduce no-shows and delight fans, and give live event owners complete control of the fan ticketing experience. Since inception, Lyte has powered over 400 exchanges for A-list sports and entertainment brands, including BottleRock Music Festival, Newport Folk Festival, University of Arkansas Athletics, Mumford and Sons and many more. Founded by ad technology veterans, Lyte empowers live event owners with the data and tools they need to bring the secondary market into control.

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SOURCE Ticketfly