Live Nation CEO believes concerts are “underpriced”
The Live Nation CEO, Michael Rapino, has claimed that tickets for concerts are “underpriced” compared to other forms of entertainment.
Rapino made the remarks during CNBC and Boardroom’s Game Plan conference, stating there is scope to charge more for concert tickets despite the rising costs of living, which are hurting the pockets of the average live music fan.
According to Rolling Stone, Rapino highlighted the difference in pricing between the premier acts in music confirmed to teams competing at the top of American sports, such as the New York Knicks, stating, “Music has been underappreciated. In sports, I joke it’s like a badge of honour to spend 70 grand for a Knicks courtside (seat). They beat me up if we charge $800 for Beyoncé.”
He continued, “We have a lot of runway left. 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.”
While Rapino did note that prices could be increased further for fans, he did also highlight that the cost of putting on these shows has also increased significantly in recent years.
Using Beyoncé as an example again, he said she had “62 transport trucks” for her most recent tour, which he compared to “a Super Bowl she’s putting on every night” and speculated she likely only used ten trucks a decade ago.
Rapino said that artists are “forfeiting margin for the experience,” adding, “You hear about these $100 million grosses, that artist, depending on the show, he might only take home 30 per cent of that, spending 70 on the show.”
His comments arrive days after Garbage’s Shirley Manson explained why their current US tour will be their last, telling fans at a show in Washington DC: “We have as a band decided that, due to basically the economics of the music industry, that we have to curtail our headline touring business. It has, thanks to the thievery of the record industry, made touring very, very difficult.”
In May, a Cash App survey discovered that more than half of Gen Z music fans have used buy-now, pay-later services to attend events. Additionally, one in five Gen Z participants admitted to spending beyond their means to attend concerts in the past two years.
Meanwhile, a Bank of America survey has found that the average customer spent $150 a month on entertainment between May 2024 and April 2025, a figure which extends to $300 for those with a credit card.
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