(NewsNation) — Concert tickets have gotten more expensive in recent years, but Live Nation's CEO insists they're still a bargain compared with sports.

"The concert is underpriced, has been for a long time," Live Nation CEO Michael Rapino said recently at CNBC and Boardroom’s "Game Plan" conference.

Rapino argued that music is "underappreciated," noting that fans treat sports spending as a status symbol.

"I always joke, sports, it's like a badge of honor to spend 70 grand for a Knicks courtside," he said. "They'd beat me up if we charge $800 for Beyonce."

He thinks the industry still has "a lot of runway left" on pricing and said that the average concert price is $72: "Try going to a Lakers game for that."

Industry data, however, suggests top-tier shows cost far more.

In 2024, the ave

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