Live Nation Urges Top Acts To Increase Ticket Prices

The head of the world’s biggest concert promotion company has urged artists to be more aggressive in pricing tickets to reflect demand in a similar way to airlines to maximise revenues and tackle the rise of touts.

Michael Rapino, chief executive of Live Nation, says that artists are missing out on billions of dollars by under pricing tickets that are snapped up by touts at face value and then resold for a profit on the $8B-a-year secondary market.

He is urging artists to be more aggressive in pricing tickets to reflect demand in a similar way to airlines to maximize revenues and tackle the rise of touts.

 “We have to start pricing the house to match the market,” he tells London's Financial Times. “We’re only scratching the surface of the opportunity for the artist.”

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