(CelebrityAccess) — As the impact of the COVID-19 pandemic continues to unfold for the live events industry, more than 23,000 events in North America alone have been postponed or canceled outright.
Ticket resale service StubHub is on the frontlines of companies affected by the cancellations and this week, they announced they are backing away from a previous policy of providing refunds for canceled events.
Previously, StubHub provided refunds, often before collecting the money from ticket sales to canceled events from ticket sellers, however, in light of the widespread cancellations from the pandemic, they say that’s no longer possible.
Instead, they will offer coupons worth %120 percent of the ticket price that will be useable for event tickets via Stubhub. In places where refunds are required by laws, StubHub will continue to process refunds.
“Given the extraordinary circumstances, we are providing buyers with a remedy that exceeds the value of their original order. Where required by law, we will provide refunds to buyers. Providing customers with a credit is common practice in a number of industries (e.g. travel), and given the fluid situation in our industry, we made the decision to switch to this model.”
For those customers eligible for refunds, StubHub said the two-to-three-week timeframe remains in place.