The CEO of Live Nation Said What?

Picture this: The concert you’ve been waiting months for is finally here, and you couldn’t be more excited for the show to start. Eventually, the lights go down and the venue darkens, the fans’ screams charging the room with energy as the music begins to play. You just know it’s going to be a night you’ll never forget. The only downside? Your ticket cost you an arm and a leg, and even though the memories will surely be priceless, the astronomical ticket price still makes you twitch.

With concert tickets reaching over $1k for general admission, it’s no surprise that concertgoers are becoming increasingly more unhappy with ticket prices today. What is surprising, however, is Michael Rapino’s response to these numbers.

CEO of Live Nation and Ticketmaster, Michael Rapino, recently stated that he believes ticket prices today are actually underpriced. In a recent interview with CNBC at Boardroom’s Game Plan conference, Rapino compared the cost of concerts with that of sporting events.

“In sports, I joke it’s like a badge of honor to spend 70 grand for a Knicks court-side [seat],” said Rapino. “They beat me up if we charge $800 for Beyoncé.”

For the multi-millionaire, $800 might not seem that farfetched, but for the majority of fans, it most certainly is.

Rapino continued to defend his opinion, stating that live music is under appreciated and audiences should see the prices as an “investment for the experience.” Referencing Beyoncé’s Cowboy Carter tour, Rapino said she brought 62 transport trucks along with her, his way of justifying higher ticket prices.

“That’s a Super Bowl she’s putting on every night. Ten years ago, there might’ve been ten trucks.”

The trend of over-the-top performances could be a main reason for the rise in ticket prices. Rapino stated that the current average price of a concert ticket is $72. According to PollStar statistics, to see the top 100 tours in 1996, a concertgoer would pay an average of $25.81, or $52 after adjusting for inflation. By 2024, the average ticket price increased to a whopping $135.92, which contradicts Rapino’s claim.

Although streaming has become the best way for audiences to listen to music, streams don’t pay very well, so artists must rely on concerts for most of their income. Increasing ticket prices is a means of survival for most artists, and the Live Nation and Ticketmaster monopoly makes it incredibly easy for the industry to increase prices even more for seats and extra fees.

Most everyone can agree that concert ticket prices are getting out of hand and that the days of $20 shows are a thing of the past, and yet, the leader of the world’s largest live entertainment company doesn’t seem to agree. The multi-millionaire may be willing to spend thousands of dollars to catch a seat at his favorite artist's show, but for the majority of fans around the world, it’s simply unreasonable.