Live Nation CEO Michael Rapino explained that the nature of live music keeps it in demand.
Live Nation CEO Michael Rapino told CNBC's Jim Cramer on Tuesday that the nature of live music keeps it in demand.
"It's a very scarce commodity," he said."If you want to see Ben Folds tonight, who's playing here, you have to come tonight. Whereas you may just, you know, delay your Disney trip." The company, which owns Ticketmaster, acts as a promoter and ticket vendor for entertainers, owns venues and manages artists across genres.on Tuesday that the nature of live music keeps it in demand, which helps the business stay strong — even though some consumer-oriented companies report a pullback due to inflation."It's a very scarce commodity," he said."If you want to see Ben Folds tonight, who's playing here, you have to come tonight.
Live Nation, which also owns Ticketmaster, has its hand in many aspects of the industry. It serves as a promoter and ticket vendor for entertainers, owns venues and manages artists across genres. The U.S. Department of Justice in MayRapino claimed that 2025 would likely be"a record year" with a lot of stadium performances, adding that Live Nation has already sold more than 20 million tickets.
According to Rapino, wider access to music has also changed fans' spending behavior. For example, he said, the average teenager with"Spotify in his pocket" knows so many more musicians than younger fans from previous generations who might have been exposed to only the most popular artists."This consumer is a new consumer," he said."The amount of music available to the consumer today has just propelled this idea that they want to see the live show.
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