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The camera may be cheap, but if that's what you're looking for, then you will get what you paid for. It's a nice enough little camera. I have taken it EVERYWHERE. I use it all the time. The only problem is, I am quite into photography, and it is by no means a professional camera. Sometimes it takes some serious photo editing to create an acceptable professional-quality image.
The video function accepts loud sound, so in that respect, it is good for concerts (whereas other cameras garble the sound). However, the picture quality is grainy unless the light is very bright. Daytime setting would be ideal. Camera does not handle low light well AT ALL. Which is the biggest problem for me, trying to create a portfolio of concert photography on a shoestring budget with a camera that fails in low-light situations.
This camera is very easy to use though. Takes nice enough pictures for what you will pay for it, and is probably a bit outdated now, therefore making it a great bargin buy at what must be a reduced price.
It has 3x zoom, 7.1 megapixels, sound recording, video recording, and various photo modes, including a helpful panorama mode which has created some beautiful images.