Actually, Broadway does a much better job with music. Hair on Broadway last year in a small theater sounded really fine; I really appreciated the intimate acoustics. But I usually need earplugs at rock concerts and can't listen to music for a day or two after I go to one.
Of course, when I listen to the Beatles, most of that never existed live in the first place. So live is usually a fabrication anyway with popular music, which only lives in the matrix anyway...