Saturday, 21 March 2015

Ticketfly Acquires Northern Tickets to Expand Business in Canada

Ticketfly Acquires Northern Tickets to Expand Business in Canada
 
Deal brings Ticketfly's Canadian reach to more than 120 partners; company announces $1B in gross ticket sales


Today, Ticketfly announced the acquisition of Northern Tickets, the in-house ticketing service of The MRG Group, which owns, operates, and manages premier music venues and events (in addition to restaurants and bars) across Canada.

This deal accelerates Ticketfly’s North American growth, adding several prestigious Canadian venues to its growing roster. As terms of the deal, Ticketfly will become the ticketing and technology platform for some of the most legendary venues and events in Canada, including the Vogue Theatrea historic 1300-capacity room in downtown Vancouver; the brand new Adelaide Hall, a 500-capacity room in Toronto; and the Vancouver International Jazz Festival, which attracts nearly half a million visitors every year.  

Today’s announcement follows a banner year for Ticketfly. In 2014, Ticketfly reached $1 billion in cumulative gross ticket sales since selling its first ticket in 2009—$500 million of which was processed in 2014 (42% year-over-year growth). Last year, the company sold 16 million tickets, helping it achieve 38% year-over-year growth in tickets sold. 

“Acquiring Northern Tickets and adding The MRG Group—owner and operator of legendary venues including Vancouver’s Vogue Theatre—to our client roster marks another momentous day in Ticketfly’s history. We are delighted to welcome them to the family,” said Andrew Dreskin, co-founder and CEO of Ticketfly. “We’ve seen tremendous growth in Canada since launching there a couple years ago, with gross ticket sales up 80% year-over-year in 2014 alone. We’ve become the go-to solution for independent venues and promoters across Canada, and we believe that this transaction signals continued growth for us up there.”

What we saw in Ticketfly was not only world class technology, but world class people with a shared belief in delivering the best experiences for fans,” said Matt Gibbons, president of The MRG Group. “This is a merger of two great teams that will benefit immensely from one another. By partnering with Ticketfly, which offers the best integrated technology platform for live events, we at The MRG Group can focus on what we do best: providing exceptional hospitality.”

Ticketfly launched Canadian operations in 2013, and the company now partners with more than 120 venues and promoters across the country. It also acquired regional ticketing company Prime Box Office. In 2014, the company saw 70% year-over-year growth for number of tickets sold in Canada.

“Our business in Canada is booming,” said Bruce Morrison, GM, Ticketfly Canada. “We started operations in Canada with three of the leading independent promoters in the country, and have only grown from there. Union Events, Collective Concerts, Inertia Entertainment, Atomique Productions—now The MRG Group with the Vogue Theatre and Adelaide Hall—the list of amazing partners goes on. We’re proud to have become the go-to choice for independent venues and promoters in Canada who share Ticketfly’s vision of creating the best experience for fans of live events.”
 

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