“They beat me up if we charge $800 for Beyoncé…”
As any music fan knows, today’s concert tickets prices are beyond expensive.
Well, Live Nation-Ticketmaster CEO Michael Rapino’s recent defense of those high prices is getting major backlash.
At a recent CNBC sports boardroom event, Rapino was asked about the price of sporting event tickets in comparison to music events, and his response has now been seen by over 10 million people. Here’s what he had to say:
Twitter: @MorePerfectUS
“I think music has been underappreciated. I always joke, sports, it’s like a badge of honor to spend 70 grand for a Knicks courtside.”
“They beat me up if we charge $800 for Beyoncé, right?”
“We have a lot of runway left. When you read about the ticket prices going up, it’s still, average concert price is $72. Try going to a Laker game for that.”
“So, the concert is underpriced. Has been for a long time.”
Obviously, people are NOT happy about Rapino’s comments, and are voicing their frustrations online.
“Making art a privilege of only the elite is absolutely intentional,” one person wrote.
Another person called it “price gouging.”
“tell that to any live performer who’s had to deal with a dead crowd because real fans can’t afford the good seats. instead some CFO and his wife are in the front row and they maybe know two songs if the artist is lucky,” this person pointed out.
“Weird to have a monopoly and still feel the need to publicly justify and defend raising prices.”
As this person said, “Ruining live music one concert at a time.”
What are your thoughts? Let us know in the comments below.