Ticketmaster Updates Refund Policy to Exclude Postponed Events

Ticketmaster has officially updated its refund policy, which previously allowed for ticket-buyers to get their money back for canceled or postponed events. The language on their website has been recently updated, however.

"Refunds are available if your event is canceled. Due to the unprecedented volume of cancellations, please note that you should expect to receive your refund in as soon as 30 days. If the tickets were transferred to you, the refund will go to the fan who originally bought the tickets from Ticketmaster."

A letter posted in Ticketmaster's blog continues:

"As always, canceled events are automatically refunded. If an event organizer is offering refunds for postponed or rescheduled events, a refund link will appear on your Ticketmaster account. Otherwise, you are encouraged to periodically check back online to see if the status of their event has changed."

Now customers are taking to Twitter to express their outrage over the change in the postponement policy.

Live Nation president Joe Berchtold told Squawk Alley,"I think there's a lot of misperception about Ticketmaster. Ticketmaster doesn't sell these tickets and sit on a mountain of cash. Ticketmaster sells tickets and gives the cash over to the venues where the events are held."

Live Nation Entertainment is the world's leading live entertainment company comprised of global market leaders: Ticketmaster, Live Nation & House of Blues Concerts, LN Media and Artist Nation Management. For additional information, visit www.livenationentertainment.com.