Ticketmaster is preparing a new refund policy to get money back to fans who lost out on tickets to concerts during the coronavirus pandemic.

Ticketmaster, Coronavirus, RefundsTasos Katopodis / Getty Images

Beginning May 1, fans will receive an email from Ticketmaster offering 30-days to redeem a refund on any postponed concert. They will also be able to simply keep their ticket, which will be honored at any rescheduled show.

Live Nation is going as far as to offer a 150% credit for the value of their refunded tickets. The credit can be used for any future Live Nation shows. The company explained the move in the statement below:

Live Nation will soon be rolling out Rock When You’re Ready, a full program of options for fans with tickets to shows that have been canceled or rescheduled. Our venues across North America will be offering loyal fans a variety of Concert Cash credits to put towards future ticket purchases. For canceled shows, fans can choose to receive up to 150% of their ticket value as Concert Cash, and for rescheduled shows they will receive Concert Cash once they attend the new date. Those looking for ways to give back can opt to donate their tickets to health care workers through Live Nation’s expanded Hero Nation program.

Both sites were initially criticized for not refunding tickets immediately. A source from Live Nation explained the delay to Billboard saying, “It just takes time to work through the math and work with the calendar. When you move a Friday show to a Monday night, you don't know what is going to happen with the fans. We had to move slow to get it right and we hoped by May we would have some clarity on dates and agreed terms.”