Live Nation CEO Defends Surging Concert Ticket Prices as "Undervalued"

In a recent statement, Live Nation CEO Michael Rapino sparked a furor among concert fans by claiming that concert tickets are currently "underpriced." Rapino argued that the average concert price of $72 is still too low compared to the demand, using the example of courtside NBA tickets costing $70,000 as a benchmark.

However, Rapino's comments have been met with widespread backlash from both casual listeners and dedicated fans. Many pointed to the steadily rising costs of live music, with ticket prices for the top 100 tours increasing by over 30% in 2024 to an average of $130 per ticket. This 9% jump in a single year has made concerts less accessible, with fans blasting Rapino's remarks as "out of touch" and a sign that live music is becoming a "luxury" few can afford.

Despite the criticism, Rapino's position is not new. Live Nation executives have long argued that the real proof of underpricing comes from the booming resale market, where tickets routinely trade at multiples of their face value. They contend that fans are already proving their willingness to pay more, suggesting higher face values could ultimately bring more revenue back to artists and promoters. However, critics counter that such logic risks pricing out everyday fans and cementing live music as a luxury experience.