Live Nation Ceo Says Ticket Prices Are Underpriced.

Last week at CNBC and Boardroom’s Game Plan conference, Live Nation CEO Michael Rapino strongly insisted that the demand for live entertainment has never been higher than it is today, and tickets remain noticeably “underpriced” despite this surge in interest. He further remarked that “music has been underappreciated for far too long,” particularly when compared to the highly monetized world of sports. “In sports, I joke that 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 said, highlighting the stark contrast in pricing attitudes between the two industries. He went on to emphasize, “We still have a lot of runway left to grow. So when you read about ticket prices going up, keep in mind the average concert ticket price is still just $72.” He urged everyone to consider that “try going to a Laker game for that price, and you’ll find there are only 80 seats available. The concert ticket is underpriced and has been that way for a long time,” underscoring the significant potential for further growth and appreciation in the live music sector.