(Los Angeles, CA) – Live Nation’s CEO says concert tickets are still underpriced. Michael Rapino compared the costs of attending a concert or a sporting event while speaking at CNBC Sport and Boardroom’s Game Plan conference Tuesday in Los Angeles. He said the average concert ticket price is 72-dollars and added, “Try going to a Laker game for that.” The latest Bureau of Labor Statistics consumer price index data showed prices for movie, theater and concert tickets jumped three-point-four-percent last month compared to a year ago.
Meanwhile, the cost to go to a sporting event dropped half-of-one-percent from last year.
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