At a time when his company is facing multiple government antitrust lawsuits and widespread public fury over soaring ticket prices, Live Nation CEO Michael Rapino has made the defiant claim that concert tickets are, in fact, “underpriced.” Speaking at the Game Plan conference last week, he argued that fans see it as a “badge of honour” to spend thousands on sports tickets but “beat me up if we charge $800 for Beyoncé.”
Rapino‘s provocative comments come as Live Nation, which owns the ticketing behemoth Ticketmaster, is facing an antitrust lawsuit from the U.S. Department of Justice over its alleged illegal monopoly, a separate lawsuit from the Federal Trade Commission over alleged illegal resale tactics, and intense public and political backlash for practices like “dynamic pricing.”
Despite this, Rapino argued that the value of live music has been historically underestimated compared to other forms of entertainment.
“Music has been under-appreciated… 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 stated (according to Rolling Stone). “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.”
(According to live-entertainment trade publication Pollstar, the average ticket price for a U.S. stadium show in 2024 was $128.64, while an arena show averaged $98.78).
Rapino did acknowledge that “the cost has gone up” for tickets, but he attributed this to the massive “investment in the experience” from the artists themselves. He used Beyoncé‘s recent tour as an example of a massive production that is far more costly than tours of the past.
“That’s a Super Bowl she’s putting on every night. 10 years ago, there might’ve been 10 trucks,” he said, noting that artists are “forfeiting margin for the experience” and may only take home 30 percent of a $100 million gross.
Rapino‘s “underpriced” argument is a bold and defiant stance in the face of immense scrutiny. It is unlikely to win over the legions of frustrated fans and government regulators who argue that his company’s alleged monopoly and controversial pricing strategies are the real reason they can’t afford to see their favorite artists.
