In a comment that appears out of touch with reality, Live Nation CEO Michael Rapino, who heads Ticketmaster, asserted that concert tickets are, in fact, too inexpensive. This viewpoint may shock many non-millionaire Americans who find it difficult to afford tickets to see their beloved performers. Rapino made these statements at the Game Plan conference hosted by CNBC and Boardroom, and they rapidly circulated online. It’s the kind of notion a CEO might think privately but usually wouldn’t articulate publicly.

Rapino’s remarks drew attention to the contrast between the cost of concert tickets and those for major sports events. He emphasized that while paying $70,000 for a courtside seat at a Knicks game is considered a mark of status, there is outrage when an $800 ticket is set for a Beyoncé concert. He contended that concerts, particularly those with top artists, have become more elaborate and should command higher prices. Rapino also indicated that there’s potential for ticket prices to rise even more, especially since the average concert ticket still stands at $72, which is relatively low compared to sports events like Lakers games.

Although sports events are distinct and unpredictable, concerts tend to be more uniform, echoing past and future performances. Even so, ticket prices for concerts remain steep, as evidenced by Taylor Swift’s Eras Tour, where tickets in Indianapolis averaged $3,071, double the average monthly rent in the city.

Rapino’s total earnings last year reached $33 million, an increase from $23.4 million the year prior, though a decline from $139 million in 2022. Consumers have become accustomed to high costs and Ticketmaster fees when going to concerts. As prices continue to climb, concertgoers can at least take solace in Rapino’s belief that they are getting a great deal.

This narrative represents the author’s viewpoint.