00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Live Nation CEO Michael Rapinoe and Smith Entertainment Group CEO Ryan Smith said live
00:06events have become increasingly central to culture and commerce in the post-pandemic era.
00:11At CNBC's Sport and Boardroom's Gameplay Conference on Tuesday, the executive said
00:15demand for in-person events has been unmistakably strong. Rapinoe said live events create a
00:19unifying shared experience that allows people to set aside personal concerns for a few hours.
00:24Moment Sachs projects the live music industry will grow 7.2% annually through 2030,
00:28driven by Millennials and Generation Z. Rapinoe said live shows now dominate artist revenue,
00:33with touring generating about 98% of income, sending Beyonce's tours a nightly Super Bowl-scale
00:37production. Rapinoe argued concerts remain underpriced compared to sports, as August data
00:42showed admission costs for entertainment rose 3.4%, while sporting event prices fell 0.5%.
00:47For all things money, visit Benzinga.com.
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