Live Nation CEO Michael Rapino discussed the resilience of the live music industry in an interview with CNBC’s Jim Cramer. He highlighted the unique appeal of live music, attributing its demand to its scarcity compared to other consumer experiences.
Rapino emphasized that Live Nation’s diversified business model, encompassing promotion, ticket sales, venue ownership, and artist management, contributes to its strength in the market. Despite facing legal challenges, including antitrust lawsuits, the company has recently reported a successful earnings season fueled by a robust summer concert lineup.
Looking ahead, Rapino projected a promising future for Live Nation, predicting a record year in 2025 with a surge in stadium performances. He noted that evolving consumer preferences, driven by a desire for experiences over material possessions, have reshaped the industry landscape.
A key driver of this shift, according to Rapino, is the widespread accessibility of music through streaming platforms like Spotify. This increased exposure to diverse artists has heightened fans’ interest in attending live shows, creating a new era of concertgoers who prioritize the live experience.
