Live Nation CEO Michael Rapino and Smith Entertainment Group CEO Ryan Smith said this week that live events are more central than ever to culture and commerce in a post-pandemic world.

Speaking at CNBC Sport and Boardroom's Game Plan conference on Tuesday, the executives said that the high demand for in-person events has been unmistakable.

"No matter what you bring to that table that day, you unite around that one shared experience," Rapino said. "For those two hours, I tend to drop whatever baggage I have and have a shared moment."

According to Goldman Sachs , the live music industry is expected to grow at a 7.2% compounded annual rate through 2030, fueled by millennials and Generation Z.

Smith bought the NBA's Utah Jazz in 2020 and launched a new NHL franchis

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