Outrage as Live Nation Chief Says Tickets Are Underpriced

Live Nation CEO Michael Rapino sparked online backlash after telling CNBC and Boardroom's Game Plan conference that concert tickets have been 'underpriced' for 'a long time.' Rapino, whose net worth is about $997 million, said 'Music has been under-appreciated.' In a quip about price comparisons, he added: '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.'

Rapino's remarks come as consumers face higher concert costs amid ongoing criticism of Ticketmaster's pricing practices and resale controls. Social media users quickly labeled the comments tone-deaf and out of touch with ordinary fans.

Fans of major artists — from Sabrina Carpenter to Ariana Grande — have criticized Ticketmaster for enabling scalpers to snap up large blocks of tickets, leaving the general public to pay inflated prices on the secondary market. Grande herself wrote last week that she was 'incredibly bothered' by Ticketmaster's dynamic pricing after the resale surge around her first tour in six years.

Ticketmaster uses a dynamic pricing model that adjusts prices based on demand, triggering spikes during high-interest periods. Critics have accused the company of colluding with brokers to bypass security and buy tickets in bulk, then reselling them at a substantial markup.

On Sep. 18, the Federal Trade Commission filed suit against Live Nation and Ticketmaster, alleging illegal ticket resale tactics and deceptive pricing and ticket-limits practices. The FTC accused the companies of tacitly coordinating with brokers to harvest millions of dollars' worth of tickets in the primary market and then selling those tickets at higher prices in the secondary market. FTC chair Andrew Ferguson said the agency's action reflects a need to protect consumers from being 'ripped off' in live-event ticketing. President Donald Trump made it clear in his March Executive Order that the federal government must protect Americans from being ripped off when they buy tickets to live events, Ferguson said.

Live Nation dominates about 80 percent of major venue sales and has expanded in ticket resales; from 2019 to 2024, consumers spent more than $82.6 billion on its platform.

The case adds to a broader debate about price transparency and competition in the live-event industry.