Live Nation/Ticketmaster CEO Michael Rapino is being relentlessly mocked for his comment that concert tickets on his company’s platform are “underpriced.”
Rapino, who has a reported net worth of nearly $1 billion, may think ticket prices are too low, but thousands of music lovers – including Jack Antonoff, music producer for the likes of Taylor Swift, Sabrina Carpenter, Lorde, and Doja Cat – spoke up to disagree vociferously. This comes just weeks after the Federal Trade Commission sued Live Nation and Ticketmaster for engaging in illegal ticket resale practices that have cost consumers billions in inflated prices and fees.
To make things even worse, Rapino and Live Nation/Ticketmaster continue to push proposals in the California legislature that would expand their power over live events, inevitably driving up prices for fans even higher.
From CNBC: Taylor Swift music producer Jack Antonoff slams Live Nation CEO claims of ‘underpriced’ concert tickets
“Acclaimed music producer Jack Antonoff is rejecting claims by Live Nation Entertainment CEO Michael Rapino that concert tickets are still ‘underpriced.’”
“The CEO’s comments came at the CNBC Sport and Boardroom Game Plan conference last week, when he said, ‘In sports, I joke it’s like a badge of honor to spend [$70,000] for Knicks courtside. … When you read about the ticket prices going up, it’s still an average concert price [of] $72. Try going to a Laker game for that, and there’s 80 of them [in a season].’”
“Antonoff responded to those comments in a post on X Thursday saying, ‘this really breaks my heart and is a sick way of looking at.'”
From VICE: Concert Tickets Aren’t Expensive Enough Actually, Says Live Nation CEO
“Rapino compared popular concerts to sports games, insinuating that sports fans actually enjoy spending thousands of dollars on tickets. By this logic, concertgoers should embrace higher prices, or at least learn to like it.”
