Ticketmaster announced on Friday a resolution to its refund policy.
The company will honor refunds for shows that are cancelled or postponed due to the COVID-19 pandemic. Two organizers, Live Nation Entertainment and AEG Live, will provide refunds on a rolling basis, according to Ticketmaster.
Live Nation will give a full refund if customers apply within 30 days of a show being cancelled or new dates being finalized, reports say.
Ticketmaster has faced criticism for not immediately offering refunds after shows were postponed. A previous update to its refund policy implied that concerts postponed by the coronavirus would not be refunded.
An update on questions about event refunds.
We will continue to keep fans up to date on the status of events via email and our Covid-19 event portals.
— Ticketmaster (@Ticketmaster) April 15, 2020
The change means only shows that have been definitely cancelled, as opposed to being postponed or rescheduled, can be refunded. A CNBC report states that about 90 percent of shows affected by the virus are being rescheduled, while only 10 percent have been cancelled outright.
In a statement, Ticketmaster previously said its policy has “always stated that tickets are non-refundable and that while refunds are issued automatically for canceled events, event organizers retain the ability to place refund limitations on postponed or rescheduled events.”
Joe Berchtold, president of Ticketmaster-owner, Live Nation, says the problem is related to where money goes after a person purchases a ticket.
The company transfers money to the concert venue. Ticketmaster must then coordinate with the venue to get the money back. However, most venues are currently closed due to the outbreak.