Live Nation CEO Blasted For Saying Tickets Are Underpriced

Dwell Nation CEO Michael Rapino is coming underneath fireplace on social media for his feedback on ticket costs at CNBC and Boardroom’s current Sport Plan convention. On the occasion, he argued that live performance tickets are literally underpriced, regardless of complaints from followers. In making his case, he in contrast attending a Beyonce live performance to going to a New York Knicks sport.

“Music has been under-appreciated,” he mentioned, as caught by Vice. “In sports activities, I joke it’s like a badge of honor to spend 70 grand for a Knicks courtside [seat]. They beat me up if we cost $800 for Beyoncé.”

“Now we have loads of runway left,” the Dwell Nation CEO continued. “So once you examine ticket costs going up, the common live performance worth continues to be $72. Attempt going to a Laker sport for that, and there’s 80 of them. The live performance is underpriced and has been for a very long time.”

“Lower it out n***a, individuals used to spend $70 to see michael jackson in his prime,” one person wrote. One other added: “No they really aren’t underneath priced .. yall over cost for all the things …” Yet another argued: “All people ain’t a CEO such as you Michael, persons are battle and also you and your buddies wish to worth gouge to spice up income. Folks need to have the ability to go to live shows. It is a troubling time for lots of Individuals due to payments, the price of residing, the shortage of jobs to assist with the price of residing…”

In keeping with information compiled by Pollstar in 2024, Rapino’s estimate of the common live performance worth being $72 is considerably inaccurate. Measuring the highest 100 hottest live shows in the USA from that yr, the outlet priced the common price at $136.

This additional fails to account for ticket scalping, which is a significant concern for holding live shows reasonably priced to the common fan as nicely. Dwell Nation has beforehand confronted a lawsuit from the Division of Justice over alleged antitrust violations, in addition to a lawsuit from the Federal Commerce Fee for allegedly hiding charges from clients. The corporate denied each claims.