Concert ticket prices have been the source of outrage for years, but Live Nation CEO Michael Rapino now suggests that fans are still getting a bargain. Speaking at CNBC Sport and Boardroom’s Game Plan conference on Tuesday (Sept. 23), Rapino argued that concerts are “underpriced” when compared to other live events, particularly sports.

“In sports, I joke it’s like a badge of honor to spend [$70,000] for Knicks courtside,” Rapino said. “They beat me up if we charge $800 for Beyoncé.”

He continued, “When you read about the ticket prices going up, it’s still an average concert price [of] $72. Try going to a Laker game for that, and there’s 80 of them [in a season].”

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