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12 minutes ago, gunsguy said:

sure they can and who gets all that interest that has compounded for months?

Anything gained is spent on operating costs and their employees. No one is coming out ahead here. 
 

If they go under, no one gets a refund. It goes to the banks and lenders 

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OFFICIAL UPDATE FROM GUNS on Facebook, MAY 11th 2020 - EU SUMMER TOUR WILL NOT BE HAPPENING GN’R Fam: Sadly, the upcoming European tour will not be happening. Things are changing daily and w

Yeah - poor GN’R. Hard to be the big rockstars who have made hundreds of millions of dollars over the last four years and might not get away with making another hundred million this year. Don’t worry

GNR's social media team can't even be assed about changing their cover video on Facebook. It still has cancelled dates from last month up there. Their communications are terrible.

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2 hours ago, Kearnsy said:

So if its reschedule, you dont get a choice in getting a refund? Only if its cancelled all together? Which Pearl Jam show were you going to? Ive tickets for london and Zurich but happy to hold on for the rescheduled shows.

If it’s rescheduled Ticketmaster gives you the option to keep the tickets or get a refund once they announce the rescheduled date, but not until then. 
 

was going to the NYC Pearl Jam show, definitely keeping those tickets because they were hard enough to get to begin with. GNR I’ll probably just take the refund and buy the tickets later on when the rescheduled date is closer, the NJ show was selling poorly so no real risk. 

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2 hours ago, guitarpatch said:

Anything gained is spent on operating costs and their employees. No one is coming out ahead here. 
 

If they go under, no one gets a refund. It goes to the banks and lenders 

Really? Do you work for Live Nation? 

 

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2 hours ago, goneshootin said:

If it’s rescheduled Ticketmaster gives you the option to keep the tickets or get a refund once they announce the rescheduled date, but not until then. 
 

was going to the NYC Pearl Jam show, definitely keeping those tickets because they were hard enough to get to begin with. GNR I’ll probably just take the refund and buy the tickets later on when the rescheduled date is closer, the NJ show was selling poorly so no real risk. 

I have tickets as well for the NJ show. I'm definitely not taking a refund if it's postponed. If it's cancelled that's a different story. I wouldn't be surprise that it will be tough to get concert tickets next year for this area regarding big name artists. I kinda wish Bon Jovi didn't cancel either. My friend's wife had a tough time getting tickets for the show. 

Being that the NJ/NYC area got hit very hard and people are going nuts staying at home, don't be surprised that tickets will be very tough to get depending on what happens next year with this virus. 

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17 minutes ago, allwaystired said:

Really? Do you work for Live Nation? 

 

Guitarpatch is correct. Creditors would be the first for a payout if LN/TM was to go bankrupt. You wouldn't get any refund for a bankruptcy. In this situation,  no one is coming up on top. Heck, Hertz is on the verge of bankruptcy. Hertz is a 124 years old company.  We have yet to see the full economic damage from this virus. I do think it'll eventually present people and corporations with other opportunities for growth.  Much like 9/11, Great Recession, and Hurricane Sandy did for the tri-state area.  We just won't know what that is for awhile. 

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11 minutes ago, Draguns said:

I have tickets as well for the NJ show. I'm definitely not taking a refund if it's postponed. If it's cancelled that's a different story. I wouldn't be surprise that it will be tough to get concert tickets next year for this area regarding big name artists. I kinda wish Bon Jovi didn't cancel either. My friend's wife had a tough time getting tickets for the show. 

Being that the NJ/NYC area got hit very hard and people are going nuts staying at home, don't be surprised that tickets will be very tough to get depending on what happens next year with this virus. 

There was certainly a lot of pent up demand in China for entertainment as Disney sold out for its reopening.

That said, the tickets are expensive enough and the economy will take a serious hit. There will also be a lot of competition, you've got all the re-scheduled tours then there will be plenty who were planning to tour 2021 anyway.  I read the other day that LN and AEG are actually pushing hard to reduce the fees and splits already agreed for all these shows being re-scheduled for next year, which might suggest they expect less demand and a tougher climate, not a better one.

 

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11 minutes ago, Draguns said:

Guitarpatch is correct. Creditors would be the first for a payout if LN/TM was to go bankrupt. You wouldn't get any refund for a bankruptcy. In this situation,  no one is coming up on top. Heck, Hertz is on the verge of bankruptcy. Hertz is a 124 years old company.  We have yet to see the full economic damage from this virus. I do think it'll eventually present people and corporations with other opportunities for growth.  Much like 9/11, Great Recession, and Hurricane Sandy did for the tri-state area.  We just won't know what that is for awhile. 

It was more what they do with the huge amounts of interest they accrue I was interested in. I don't see how anyone can know that information unless they work for the company. 

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13 minutes ago, allwaystired said:

It was more what they do with the huge amounts of interest they accrue I was interested in. I don't see how anyone can know that information unless they work for the company. 

I don’t work for LN. Just saying their operating costs would wipe anything they’d possibly gain. This is basically a company that has no revenue globally for months on end at the very min. 

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11 minutes ago, guitarpatch said:

I don’t work for LN. Just saying their operating costs would wipe anything they’d possibly gain. This is basically a company that has no revenue globally for months on end at the very min. 

People don't get that.  They think big companies have loads of money and can just keep putting out.  Just like the government, except they can't print money, they don't have a savings account.  Money comes in, money goes out.  They may have some money held back that they can reallocate for this crisis but it will get depleted quick with nothing coming in.

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12 hours ago, Sweersa said:

I just hope they honor old tickets to the shows that replace them.

I’ve got a feelin this won’t be the case. From what I’ve seen the ticket value will be held as ‘concert cash’ (with a possible bonus of up to 50% of the ticket price) allowing the customer to purchase new tickets when the new date is announced. 

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If it cost me $150 in lost ticket money to see LN and TM go out of business, I'd call it money well spent. Fuck TM and their 30% "convenience" charges and their insider scalping to falsely inflate pricing. 

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7 hours ago, guitarpatch said:

I don’t work for LN. Just saying their operating costs would wipe anything they’d possibly gain. This is basically a company that has no revenue globally for months on end at the very min. 

So you're speculating but acting like you have authority and know, as usual. 

Let me just remind you you were the person who loudly ridiculed anyone that suggested the tour might not happen due to coronavirus with a similar attitude. 

 

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Posted (edited)
14 minutes ago, allwaystired said:

So you're speculating but acting like you have authority and know, as usual. 

Let me just remind you you were the person who loudly ridiculed anyone that suggested the tour might not happen due to coronavirus with a similar attitude. 

 

I don’t work for LN, never said I didn’t work in entertainment and live music though. No insider info is needed to make the observation that their operating costs are huge and they aren’t receiving any revenue 

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5 minutes ago, guitarpatch said:

I don’t work for LN, never said I didn’t work in entertainment and live music though. No insider info is needed to make the observation that their operating costs are huge and they aren’t receiving any revenue 

Very convenient comeback. 

To be honest, this 'I'm in authority' lecturing stance washes from people on Nightrain but is really fucking tiresome here. 

Have a bagel. 

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9 hours ago, allwaystired said:

It was more what they do with the huge amounts of interest they accrue I was interested in. I don't see how anyone can know that information unless they work for the company. 

I know it’s not your point, but interest rates are near close to zero. If they’re getting half a percent interest, it’s 5 million on every billion they have, which isn’t really a ton of money. 

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1 minute ago, goneshootin said:

I know it’s not your point, but interest rates are near close to zero. If they’re getting half a percent interest, it’s 5 million on every billion they have, which isn’t really a ton of money. 

No, it's not really. I have no idea of the business workings of Live Nation.

I shouldn't imagine they're struggling for cash though - let's not forget that they keep all the cash from booking fees, whether a show happens or not. For the Hyde Park shows in London that were cancelled it was conservatively estimated this was £7000,000 per night they made. For gigs that didn't happen.  

Not really my issue though - it's the authoritative tone of 'I know and you're all stupid' with zero knowledge to back it up that infuriates me, and it always comes from the same person/persons who just vanish when they're proved wrong. 

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17 minutes ago, allwaystired said:

No, it's not really. I have no idea of the business workings of Live Nation.

I shouldn't imagine they're struggling for cash though - let's not forget that they keep all the cash from booking fees, whether a show happens or not. For the Hyde Park shows in London that were cancelled it was conservatively estimated this was £7000,000 per night they made. For gigs that didn't happen.  

Not really my issue though - it's the authoritative tone of 'I know and you're all stupid' with zero knowledge to back it up that infuriates me, and it always comes from the same person/persons who just vanish when they're proved wrong. 

Given they are listed on the stock market their cash position is in the public domain.  They are burning $150M a month which appears to give them around 12 months on current cash reserves.  They need to be able to sell tickets as normal and with confidence basically before Christmas.  They do not keep money from booking fees! Some smaller agents may do this but not TM or AXS.  Money is going back in full less postage or a small transaction charge.  They have a big refund page laying out all the options on their website.  Keep your ticket, get a credit of 150% if you want to cancel but not get a cash refund or get a full cash refund.  They are hurting.

As for the Hyde Park shows, I have no idea what you're talking about.  LN haven't been involved in Hyde Park for 7 years.  In the UK both AXS and TM give full refunds with no questions asked, you might lose a couple of ££ on a transaction fee but the ticket price and bulk of the charges are repaid in full by those companies.  Other cowboy outfits like Eventim keep the booking fees, yes. 

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34 minutes ago, goneshootin said:

I know it’s not your point, but interest rates are near close to zero. If they’re getting half a percent interest, it’s 5 million on every billion they have, which isn’t really a ton of money. 

Now perhaps but how long have tickets been sold?

 

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5 hours ago, gavgnr said:

I’ve got a feelin this won’t be the case. From what I’ve seen the ticket value will be held as ‘concert cash’ (with a possible bonus of up to 50% of the ticket price) allowing the customer to purchase new tickets when the new date is announced. 

That sucks, I bought my pair of tickets from stubhub so I'll have to figure that out later. 

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20 minutes ago, northernsoul said:

Given they are listed on the stock market their cash position is in the public domain.  They are burning $150M a month which appears to give them around 12 months on current cash reserves.  They need to be able to sell tickets as normal and with confidence basically before Christmas.  They do not keep money from booking fees! Some smaller agents may do this but not TM or AXS.  Money is going back in full less postage or a small transaction charge.  They have a big refund page laying out all the options on their website.  Keep your ticket, get a credit of 150% if you want to cancel but not get a cash refund or get a full cash refund.  They are hurting.

As for the Hyde Park shows, I have no idea what you're talking about.  LN haven't been involved in Hyde Park for 7 years.  In the UK both AXS and TM give full refunds with no questions asked, you might lose a couple of ££ on a transaction fee but the ticket price and bulk of the charges are repaid in full by those companies.  Other cowboy outfits like Eventim keep the booking fees, yes. 

Well most of this is simply not true, so I'm not sure why you even posted it. 

Ticketmaster and Live Nation are the same thing, and they do keep booking fees, as listed in their terms and conditions. 

If an event for which you have purchased Tickets or Packages is cancelled in full (and not rescheduled), your order will be cancelled, and you will be refunded the Sale Price of your Tickets or Packages (Service Charges and Order Processing Fees may be non-refundable)

And they are certainly do handle the shows in Hyde Park- here's the link for the ticket sales, so it's simply an outright nonsense that they "haven't been involved for 7 years". 

https://www.ticketmaster.co.uk/american-express-presents-bst-hyde-park-tickets/artist/1842565

https://www.livenation.co.uk/venue/3974/hyde-park-tickets

I really can't be bothered to check your previous 'facts' about them 'burning' $150 million a month and having 12 months to survive, nor your bizarre assertion that Eventim are a 'cowboy' operation unlike Ticketmaster and Live Nation. 

 

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Posted (edited)
17 minutes ago, allwaystired said:

Well most of this is simply not true, so I'm not sure why you even posted it. 

Ticketmaster and Live Nation are the same thing, and they do keep booking fees, as listed in their terms and conditions. 

If an event for which you have purchased Tickets or Packages is cancelled in full (and not rescheduled), your order will be cancelled, and you will be refunded the Sale Price of your Tickets or Packages (Service Charges and Order Processing Fees may be non-refundable)

And they are certainly do handle the shows in Hyde Park- here's the link for the ticket sales, so it's simply an outright nonsense that they "haven't been involved for 7 years". 

https://www.ticketmaster.co.uk/american-express-presents-bst-hyde-park-tickets/artist/1842565

https://www.livenation.co.uk/venue/3974/hyde-park-tickets

I really can't be bothered to check your previous 'facts' about them 'burning' $150 million a month and having 12 months to survive, nor your bizarre assertion that Eventim are a 'cowboy' operation unlike Ticketmaster and Live Nation. 

 

They don't keep booking fees on UK events.  That is a fact.  And your quote there says "may be non-refundable".  They do keep postage or a "transaction charge of a few ££ in the UK.  

Hyde Park is not promoted by LN anymore.  Ticketmaster are an appointed agent to sell tickets.  Guess what, they are doing full refunds! I know because I booked to go to a show there.

And I would say Eventim, Seetickets and Gigantic refusing to refund booking fees DOES make them cowboy outfits compared to TM and AXS who do refund service charges

To say TM and LN are keeping booking fees is just 100% wrong and you don't have a clue, sorry

There is the link to the article outlying LN cash position https://www.musicbusinessworldwide.com/michael-rapino-talks-cost-cutting-fan-less-concerts-and-pressing-pause-on-live-nations-big-mexico-deal/

Live Nation US ticket policy.  Full refund or 150% credit  https://www.livenationentertainment.com/ticketrefund/

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15 hours ago, Gavin82 said:

LN / TM can afford too pay out nothing like this has ever happened before 

They are taking a multi-million dollar bath on each fully cancelled show.

So I doubt they could afford to just write off all the  tours they currently promote. I doubt they have adequate insurance for a worldwide pandemic. 

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48 minutes ago, Sweersa said:

That sucks, I bought my pair of tickets from stubhub so I'll have to figure that out later. 

Stubhub tend to be a pretty cool company to interact with. They tend to be pretty helpful, so hopefully they'll sort it out.

37 minutes ago, allwaystired said:

And they are certainly do handle the shows in Hyde Park- here's the link for the ticket sales, so it's simply an outright nonsense that they "haven't been involved for 7 years". 

You are wrong. Also TM's operating costs are HUUUUGE.

24 minutes ago, northernsoul said:

Hyde Park is not promoted by LN anymore.  Ticketmaster are an appointed agent to sell tickets.  Guess what, they are doing full refunds! I know because I booked to go to a show there.

You are right.

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Just now, northernsoul said:

They don't keep booking fees on UK events.  That is a fact.  And your quote there says "may be non-refundable".  They do keep postage or a "transaction charge of a few ££ in the UK.  

Hyde Park is not promoted by LN anymore.  Ticketmaster are an appointed agent to sell tickets.  Guess what, they are doing full refunds! I know because I booked to go to a show there.

And I would say Eventim, Seetickets and Gigantic refusing to refund booking fees DOES make them cowboy outfits compared to TM and AXS who do refund service charges

To say TM and LN are keeping booking fees is just 100% wrong and you don't have a clue, sorry

Ah, I see. So when you said "they hadn't been involved for 7 years" you meant they WERE involved. Got you. 

Good news for you though if you got a refund on all those fees that Ticketmaster have a stated policy of not refunding.  

Perhaps nip along to this forum here (or indeed one of the many other places online)  dedicated to all the people who booked tickets to Hyde Park shows through Ticketmaster and didn't get their fees back and let them know? I'm sure they'd be interested to hear how you got yours sorted. 

https://www.efestivals.co.uk/forums/topic/233698-ticketmaster-refunds/

 

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Hi there,

This tour has been postponed...

The event organisers have been in touch to let us know that the following dates of this tour have been postponed:

Tottenham Hotspur Stadium - 29 & 30 May 2020
Glasgow Green - 25 June 2020

The following statement has been issued:

“GNR Fam; Sadly, the upcoming European tour will not be happening. Things are changing daily and we want to keep the health and of our fans, crew members and band safe.

We are working hard with our promoters, venues and cities/countries on next steps and will make further announcements as soon as we can. Thank you for your patience, we will get through this together and look forward to seeing you all very soon…”

They’re working hard to arrange new dates and as soon as we get any update on this, we'll be in touch to let you know. Your tickets will be valid for the new dates.

If you sold your tickets on our Ticket Exchange, you will be paid 10-12 working days after the new date - which is yet to be announced.

Please understand that given the circumstances, our Fan Support teams are incredibly busy at the moment, so we encourage you not to contact us. Instead, you can find lots of information and answers to your questions in our FAQs.

We're sorry for any disappointment caused.

Best Wishes,
Ticketmaster Customer Service

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