Sony Music invests in Japanese ticketing startup iFlyer

Sony Music invests in Japanese ticketing startup iFlyer

Japanese ticketing startup iFlyer has announced an investment from Sony Music, as well as plans to explore the potential of blockchain technology.

The company said the strategic investment from Sony Music was for an undisclosed amount, but that the partnership will focus on developing mobile apps for live events as well as expanding digital ticketing across Asia.

iFlyer says it currently sells more than $2m of tickets a year, with 5k monthly events and 400,000 active users on its service.

“As the Japan clubbing scene moves into the mainstream, quickened by the repeal last year of Japan’s anti-nightlife no-dancing ordinance, iFlyer has gained a central role in the opening of Japan’s traditionally closed music market,” wrote the company’s biz-dev boss Joshua Barry. iFlyer is also one of a growing number of ticketing companies exploring blockchain tech.

In its case, that means partnering with a company called Eventchain.io. “By integrating EventChain.io, iFlyer plans to overcome many of the challenges faced by ticketing services and buyers by using the Ethereum blockchain and Smart Tickets,” wrote Barry.

Source: iFlyer – http://tinyurl.com/y9y3kr4f