In light of the COVID-19 coronavirus, the North American ticketing industry has already begun grappling with the consequences of increased public concern and the cancellation of several prominent events.
StubHub and Vivid Seats also recently changed their payout processes to not issue funds until after an event has taken place, meaning brokers using the site would not have access to the revenue from the sale as quickly.
A Vivid spokesperson sent the following statement to Pollstar: "We are closely tracking event cancellations. For some events, because the situation remains fluid, we have updated our terms such that payment for future ticket sales will be remitted to ticket sellers after the event.”
Tickets purchased prior to the change in payment terms will not be affected by the new terms an email sent to Vivid users said.