Michael Rapino, the CEO of Live Nation, has reignited one of the music world’s most divisive debates: are concert tickets too cheap, or are they already breaking the bank? Speaking at CNBC’s Game Plan conference in Los Angeles, Rapino argued that live music remains “underpriced” compared to sports and other entertainment. “Music has been underappreciated,” he said. “In sports, I joke 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.” His comments sparked immediate backlash online, with fans saying he’s out of touch with financial realities. Still, Rapino’s point deserves a closer look. Here are five reasons why he might actually be right.
1. The resale market shows demand is sky-high.
Look at StubHub or Ticketmaster’s own resale exchange the morning after tickets drop. Prices jump to two, three, even five times the original value. Fans still buy them. This isn’t just anecdotal; Live Nation president Joe Berchtold has said more than a billion dollars in annual “price arbitrage” is siphoned into scalpers’ pockets. If the true market value of a Beyoncé or Taylor Swift ticket is $800 but the box office price is $200, who’s really winning? Not the artist. Not the crew. The scalpers do. Rapino’s argument is that raising prices up front would redirect that money back to the music ecosystem instead of the resale Wild West.
2. A concert isn’t a seat—it’s an experience.
Live music is unlike anything else in entertainment. A ticket is a gateway to shared catharsis: the lights, the sound, the sweat, the singalongs with 20,000 strangers. Compare that to the $15 movie ticket or $10-a-month streaming subscription. The concert memory lasts years, maybe even decades. In today’s “experience economy,” where people willingly pay a premium for travel, dining, or immersive art shows, concerts are arguably undervalued. When fans drop $200 on a single night of unforgettable energy, they’re buying more than music—they’re buying history. That’s part of Rapino’s point: the experience outweighs the price tag.
3. Sports already normalize higher spending.
Rapino’s most controversial comparison is also his sharpest. Courtside NBA tickets? $10,000 and up. NFL playoff seats? Thousands. Baseball luxury boxes? A small fortune. And yet, those prices are accepted—even celebrated. They become a badge of status. By contrast, the average concert ticket for the top 100 tours in 2024 was just $130, even after a 30% rise. If fans treat live sports as worth splurging on, why not music? Both are cultural events. Both offer exclusivity and emotional highs. Rapino’s argument is that music, which touches lives on a deeper level, has never demanded the same respect in pricing that sports take for granted.
4. Touring costs have skyrocketed.
Putting on a tour today is closer to running a Broadway show than a rock gig. The lasers, LED walls, choreography, inflatables, costumes, special effects, crews of hundreds—it all costs millions. Transportation, insurance, venue rentals, and even fuel add to the expense. Artists from The Weeknd to U2 invest heavily in cutting-edge production to create a once-in-a-lifetime spectacle. Yet, ticket prices haven’t climbed in proportion to those costs. When Rapino says concerts are underpriced, part of what he means is sustainability. To keep these massive productions alive without bankrupting artists and promoters, prices may need to rise to reflect the true cost of what fans are seeing onstage.
5. Higher prices can empower artists.
Right now, billions of dollars evaporate into the resale economy. Artists see none of it. By charging closer to market value initially, that money could go where it should: into the pockets of the musicians, songwriters, dancers, roadies, and tech crews who make the shows happen. More revenue also means more room for innovation—bigger ideas, bolder risks, and better pay for everyone behind the scenes. Rapino’s case is simple: if fans are already spending the money, it should flow back into the music rather than vanish into scalper profits. Raising prices doesn’t just help the bottom line; it ensures the long-term health of the live music ecosystem.
Of course, I understand the fans’ perspective. Ticket prices have already jumped 30% in the past year, and many are struggling with inflation, rent, and everyday expenses. For some, concerts are the one escape, and the fear is that higher prices will turn them into a luxury for the elite. That tension—between accessibility and sustainability—is exactly where this debate lives. But Rapino’s comments force us to confront a tricky reality: fans are paying either way, whether it’s to Ticketmaster, to resellers, or to scalpers. The real question is who should benefit from that money: the scalper on the corner, or the artists who pour their lives into the stage.