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LIVE NATION CRAFTS REFUND POLICY

Live Nation and Ticketmaster are putting the finishing touches on a refund policy for postponed concerts that will become effective on 5/1.

Much like the plan AEG is working on, there will be a 30-day window for ticketholders to request a refund with the rollout beginning 5/1. If the ticketholder takes no action, after 30 days the initial ticket is good for the event’s new date.

Live Nation is also offering a credit equal to 150% of a ticket’s value to be used at a Live Nation show. Fans can also donate their ticket to a charity that gives concert tickets to health care workers and Live Nation making a matching donation.

Ticketmaster plans to alert ticketholders via email beginning 5/1 regarding their options; refunds will include the ticket price and fees. Ticketmaster retains fees when it sells tickets but hands over monies to promoters, a concept that eludes politicians such as Rep. Bill Pascrell Jr. of New Jersey, who took to Twitter today between bites of a veal parm hoagie. (Pascrell has twice asked for investigations into the popularity of Bruce Springsteen in New Jersey and how tickets for his shows wind up on secondary ticketing sites).

Live Nation leaders, which the pols seem to believe are sitting on piles of cash, have taken significant salary cuts, opened a fund for concert crews and led the teams behind the scenes creating a new landscape for the concert industry once the country reopens.

Major sports teams, including Major League Baseball, the NBA and NHL, have issued no refunds for games that were not played due to the pandemic.

While  all of this plays out, StubHub has continued to not issue refunds, saying the company lacks the funds to pay back customers. “It is currently impossible for us to offer immediate cash refunds to all buyers,” StubHub spokeswoman Kate Brinks told the Los Angeles Times.

StubHub has since been monkeying with its refund policy and is now offering 120% of the value of an order to another event through 2021.

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