The woman - later identified as 27-year-old Alicia Brauer - fell from a rock northeast of the venue at around 10:30 p.m., according to the West Metro Fire Department.
Rescue crews initially had trouble locating her due to the dark conditions and an encroaching thunderstorm.
According to the Red Rocks website, Ghostland Observatory was headlining a show at the venue when the accident occurred.
It is not known if she was trying to view the concert.
She was taken to Saint Anthony Hospital where she later passed away from her head injury.
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