Concertgoers Unite in Outrage After Live Nation CEO Calls Tickets ‘Underpriced’
The CEO of Live Nation, an entertainment company that manages concert ticket sales, recently described concert tickets as underpriced. His words are in sharp contrast to the experience of many concertgoers, who have waited in long queues to fight for tickets that cost hundreds, or even thousands, of dollars. Many people have expressed their frustration with his remarks.
The CEO of Live Nation said concert tickets should be more expensive
At CNBC and Boardroom’s Game Plan conference, Live Nation CEO Michael Rapino pointed to the demand for concert tickets as a good sign for the industry. He also compared concerts to live sporting events, noting that tickets to the latter were far more expensive.
“Music has been underappreciated,” he said, per Rolling Stone. “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.”
Fans of popular artists have bemoaned the rising cost of concert attendance, but Rapino said the price of tickets is lower than people think.
“We have a lot of runway left,” he said. “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.”
According to Pollstar, the average ticket price for a top 100 tour in 2024 was $135.92. Prices are lower for shows at smaller venues. Rapino said that any increase in the price of tickets has to do with the level of production from major artists. Each night, for example, he said Beyoncé puts on a Super Bowl-level production.
Concertgoers are furious with the Live Nation CEO
As many music lovers have expressed frustration at rising ticket prices, Rapino’s words have sparked anger and frustration.
“And what is the profit off of those tickets? If the profit margin is ridiculous then, yes, they are overpriced,” wrote one Reddit user. “Just because you can get an exorbitant amount does not mean those things are actually worth that much.”
“CEO of the Expensive Ticket Site says tickets aren’t expensive, actually!” joked another person.
People also pointed to the fact that they pay fees on top of the ticket prices, which can add up. The cost of concessions and merch at the venue is also steep.
“Well the average ticket is $72 and then f***ing Live Nation charges an extra $40 in fees,” wrote one person.
People also resented his comparison to basketball tickets. $70,000 for a ticket is an impossibility for the vast majority of people.
“Or maybe basketball tickets are overpriced?” wrote one person.
They also noted that this could price out the average fan.
“His explanation of the price difference explains the difference itself,” added another person. “That ‘badge of honor’ only exists because people pay so much as a means to show off, they don’t actually care that much about the game. The people who care the most about the game are priced out.”
Many worried about the way this would impact the music industry as a whole. If prices continue to go up, people said concert tickets would no longer be attainable.
“This trend of milking every last dollar is going to kill so many industries. It’s so short sighted in the long run. What’s going to happen with this – just like sports and other places. Prices go up to the point the average person can’t afford to go in person,” wrote one person, adding, “Then the price to watch it digitally gets too high. Then the average person stops watching or paying attention. Then nobody cares and the value of the product is gone and it dies.”
“Eventually any morsel of joy will be unaffordable for the average person,” wrote another commenter.
Some artists have taken steps to make their tickets more affordable
Dynamic pricing and ticket resellers have driven up prices for many music fans. Some artists have taken steps to avoid this, though. Musicians can opt out of dynamic pricing. Artists like Billie Eilish implemented Face Value Exchange. Through this program, resale tickets could only go for the price at which they originally sold.
For many fans, though, the announcement of a tour from a popular artist means they have to start saving money.
