Live Nation CEO Michael Rapino sparked a furor among concert fans last week when he told a CNBC host that concert tickets were underpriced — a sentiment that drew swift condemnation from both casual listeners and dedicated fans frustrated by the cost of seeing live music. While Rapino’s comments caught many off guard, they echoed a line of thinking at the company that predates the pandemic and has only grown louder in recent years.

Despite persistent complaints that concerts are becoming too expensive, Rapino and other Live Nation executives — including president Joe Berchtold and global promoter Arthur Fogel — have long argued the opposite: that ticket prices for many superstar acts are still too low compared with consumer demand.

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