Ticketmaster CEO Michael Rapino claims Concert Tickets Are “Underpriced” Despite Record Profits
INDIANAPOLIS, IN – Live Nation Entertainment CEO Michael Rapino has sparked outrage after suggesting concert tickets are currently “underpriced,” even as consumers face soaring costs and hefty fees to attend live events. The comments come amid scrutiny of Ticketmaster’s dominance in the ticketing industry and growing frustration over ticket prices.
Rapino’s assertion clashes sharply with market realities. Recent data from Zillow indicates average monthly rent in Indianapolis is roughly half the price of some concert tickets, with prices significantly outpacing local housing costs. This sentiment reflects a broader national trend of escalating entertainment expenses, especially for live music.
The CEO’s compensation has also drawn criticism. In 2024, Rapino’s total compensation reached $33 million, a substantial increase from $23.4 million in 2023 and a rebound from $139 million in 2022, as reported by Salary.com. The 2022 figure, highlighted by The Hollywood Reporter, underscores the notable financial gains at the executive level even as consumers grapple with rising costs.
Consumers have grown accustomed to high ticket prices and substantial fees, particularly through Ticketmaster, as detailed in reporting by mashable. These costs are expected to continue increasing, placing a financial burden on fans eager to see their favorite artists.
Rapino’s comments suggest a continued prioritization of profit margins over affordability, raising concerns about the future of live music accessibility.The Department of Justice is currently investigating Live Nation Entertainment and Ticketmaster over potential antitrust violations, a case that could reshape the ticketing landscape and perhaps address concerns about pricing and market dominance.
