Live Nation CEO Thinks Concert Tickets Aren’t Expensive Enough
Fans are already struggling to buy tickets to see their favorite artists.
Artie Medvedev / Shutterstock Concert-goers have been complaining about rising ticket prices for years, and things seem to keep getting worse and worse. However, the CEO of a major ticket sales company has spoken out, saying he thinks consumers should have to pay even more. Yup, you read that right.
If you've ever tried to buy concert tickets before, you know it can be a discouraging process. You're sitting in the queue for hours waiting for ticket sales to open, and when it's finally your turn to buy, it's either completely sold out or outrageously priced.
Michael Rapino, CEO of the entertainment company Live Nation, said concert tickets should be more expensive.
While speaking at CNBC and Boardroom’s Game Plan conference, CEO Michael Rapino (who has a net worth of $997.1 billion) claimed that concert tickets have been underpriced for a long time. He believes popular music concerts are the same as sports games, and therefore, fans should be willing to spend thousands on tickets.
Artie Medvedev | Shutterstock
Rapino said, "Music has been under-appreciated. 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." He argued that the cost of hosting a concert has increased due to inflation, varying venue types, and artist demand, so he considers it an "investment in the experience."
I can't say I know many people who have $70,000 ready to drop on Knicks tickets, much less $800 on a Beyoncé concert. Rapino's comments are wildly out of touch and a bit alienating to those who can't afford to spend their life savings on a concert.
Despite what Live Nation CEO Rapino said, a concert is not comparable to a sporting event.
"We have a lot of runway left," the CEO claimed. "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."
This isn't entirely accurate. Data from Pollstar reveals that, at the end of 2024, the average price for a concert ticket was $135.92. It may not seem like a big difference to some, but at nearly double the price, it could be the difference between being able to go or not.
And that doesn't even account for mainstream artists who are next to impossible to get reasonably priced tickets for. Sure, there might be tickets on sale that cost $50, but will you be able to beat scalpers to them? Probably not.
Major complaints against ticket sellers have finally prompted the Federal Trade Commission to take legal action.
Ticketmaster and Live Nation have been under fire for years, and the Federal Trade Commission is finally fighting back on behalf of ticket-buyers. The agency is suing both companies for using illegal pricing tactics and deceiving both artists and consumers.
Gorodenkoff | Shutterstock
The FTC alleges that the companies are violating the Better Online Ticket Sales Act and the FTC Act’s prohibition on deceptive acts or practices in the marketplace. Though the case has yet to go to court, music fans are hoping that tickets will eventually become cheaper and more accessible.
FTC Chairman Andrew M. Ferguson said, "American live entertainment is the best in the world and should be accessible to all of us. It should not cost an arm and a leg to take the family to a baseball game or attend your favorite musician’s show."
Kayla Asbach is a writer currently working on her bachelor's degree at the University of Central Florida. She covers relationships, psychology, self-help, pop culture, and human interest topics.
