AEG Presents will begin offering refunds for rescheduled shows starting May 1. These will cover events which have announced rescheduled dates throughout March and April. Ticketholders have 30 days to seek a refund following an event’s postponement.
Tickets for shows that have not yet been rescheduled will be unavailable for a refund until new dates have been announced.
The promotion giant puts on tours for artists like Taylor Swift, who announced today she will be cancelling her “Love Fest” tour and postponing shows until 2021. Justin Bieber, who has indefinitely postponed dates for his “Changes” tour and Coachella, which has been postponed until October are also run by AEG. The company’s revenue includes venues such as Shrine Auditorium in Los Angeles, Ogden Theatre in Denver, The Showbox in Seattle, The Colosseum at Caesars Palace in Las Vegas, Regency Ballroom in San Francisco and many more.
The announcement follows a $5 million class action lawsuit filed against StubHub after the company revealed a change to its refund policy and only offered ticket vouchers worth 120% of the ticket order. In New York, lawmakers are asking the Attorney General to open a formal investigation into Ticketmaster after the company quietly made a change noting refunds would only be received for events which are postponed and not cancelled.
AEG is ahead of the curve with their announcement offering 30-day refunds. Currently, around 30,000 events have been cancelled or postponed and it is estimated consumers have spent more than $1 billion on tickets for these events. Pollstar suggests the industry as a whole could lose up to $9 billion this year.