MarketWatch reports that executives at Live Nation and Ticketmaster have said they found the concert tickets underpriced, adding they see it as a potential area of growth.
Live Nation Entertainment Inc. Chief Executive Michael Rapino told Liberty Media Corp. investors last month that concert tickets are an “incredible bargain” relative to other entertainment options and that increasing prices is a “huge opportunity for our bottom line.”
In 2019, the average ticket price for the Top 100 worldwide tours increased by 23%, rising to $96.17.
Since 1996, the average price for a Top 100 event in North America rose over 250%.
Berchtold said that “the vast majority of shows are very reasonably priced for fans,” pointing to amphitheater lawn seats priced in the $30 range. You can read the full report at the source.