Live Nation CEO Claims Concerts Still 'Incredibly Affordable' Compared to Sports

Over the past year, concertgoers have complained of exorbitantly high ticket prices, and nearly every big-name act has made headlines for out-pricing fans with unaffordable price tags. However, Live Nation CEO Michael Rapino believes concerts are still affordable — especially compared to sports.

According to reports, Rapino spoke at a Goldman Sachs conferenced in the U.S., noting that while the biggest music stars may “make headlines” for their high ticket prices, live music is “still the most affordable opportunity out there.” He went on to note that on average, “75% of tickets are under $100,” and for most shows, “half of the tickets are under $50.”

While Rapino said that some tickets sell for much more, this is still a good deal compared to sporting events. He said that Live Nation hasn’t managed to “figure out this PR struggle,” pointing to the fact that it’s “like a badge of honor to say that the court sides were $7,000” for a game, but in terms of a live music, “you’re horrible if you charge $800 for a front row concert.” He said that live music is an “incredibly affordable opportunity in the big picture” and “concerts are always going to be much more bang for your buck.”

| READ: Average Concert Ticket Price Reaches $123 in 2024 | 

This goes against a poll this year, where Pollstar reported the average ticket price for the top 100 tours in the first quarter of 2024 was $123.25 — marking an all-time high record. Data from the publication found that the average ticket price for a Bad Bunny ticket is $290, followed by $216 for Justin Timberlake and $149 for Nicki Minaj.

Rapino did not mention the monopolistic business practices that his company is being accused of alongside its subsidiary Ticketmaster in the ongoing antitrust lawsuit brought forth by the Department of Justice and 40 states, though he insisted that promoters and venues use Ticketmaster because of its “brilliant tools” — rather than the anticompetitive practices (as many have suggested).

Alongside the lawsuit, fans across all genres have called-out Live Nation and Ticketmaster for their onsale process. From Olivia Rodrigo and Bad Bunny to blink-182 and Sleep Token, fans have complained of struggling through Ticketmaster’s online queue, facing error codes and long-wait times, and when they finally reach checkout (if they ever do) those tickets are gone — or priced so high that fans just give up.

| READ: Concert Ticket Pricing Surge Fueled by Artists, Promoters | 

One example is Sabrina Carpenter’s Short N’ Sweet Tour. Thousands of fans were attempting to purchase tickets across North America at the same time; in New York City, over 80,000 people were queued for the 19,000-capacity Madison Square Garden sale and 50,000 people were awaiting tickets for Chicago’s United Center, which holds 23,500 guests.

In response to this ongoing issue, Rapino said that “in today’s world, consumers are never happy when they can’t get a ticket.”

“They might not have known before when they waited in lines, but today, the internet, you quickly know when you’re trying to serve 500,000 tickets to 10 million people, you wake up with 9.5 million that don’t like you instantly,” Rapino said.