Live Nation CEO Michael Rapino is coming under fire on social media for his comments on ticket prices at CNBC and Boardroom’s recent Game Plan conference. At the event, he argued that concert tickets are actually underpriced, despite complaints from fans. In making his case, he compared attending a Beyonce concert to going to a New York Knicks game.
“Music has been under-appreciated,” he said, as caught by Vice. “In sports, I joke it’s like a badge of honor to spend 70 grand for a Knicks courtside [seat]. They beat me up if we charge $800 for Beyoncé.”
“We have a lot of runway left,” the Live Nation CEO continued. “So when you read about ticket prices going up, the average concert price is still $72. Try going to a Laker game for that, and there’s 80 of them. The concert is underpriced and has been for a long time.”
"Cut it out n***a, people used to spend $70 to see michael jackson in his prime," one user wrote. Another added: "No they actually aren't under priced .. yall over charge for everything ..." One more argued: "Everybody ain’t a CEO like you Michael, people are struggle and you and your buddies want to price gouge to boost profits. People want to be able to go to concerts. This is a troubling time for a lot of Americans because of bills, the cost of living, the lack of jobs to help with the cost of living..."
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Ticket Prices
According to data compiled by Pollstar in 2024, Rapino's estimate of the average concert price being $72 is somewhat inaccurate. Measuring the top 100 most popular concerts in the United States from that year, the outlet priced the average cost at $136.
This further fails to account for ticket scalping, which is a major concern for keeping concerts affordable to the average fan as well. Live Nation has previously faced a lawsuit from the Department of Justice over alleged antitrust violations, as well as a lawsuit from the Federal Trade Commission for allegedly hiding fees from customers. The company denied both claims.
