Billboard is reporting that Ticketmaster is finalizing a plan to begin offering refunds for concerts by artists performing in more than 18,000 concerts and events that had to be postponed because of the coronavirus pandemic.

Starting May 1, once postponed shows set new dates, fans will begin receiving emails from Ticketmaster to initiate a full refund. Fans will then have 30 days to request a refund, otherwise their ticket will be good for the rescheduled date.

Live Nation will also offer fans an option to receive credit for cancelled and postponed shows through the Rock When You Are Ready program, or they can donate their tickets to health care workers through the Hero Nation program.

"For cancelled shows, refunds will be automatically processed within 30 days, unless fans voluntarily opt into other programs," a statement from the company reads. "Live Nation venues will offer fans an option to receive a 150% credit for the value of their tickets to be used for a future Live Nation show. Fans will also be able to donate the proceeds of their refund to a charity to give concert tickets to health care workers, with Live Nation matching ticket donations."

The refund plan comes after a month of negotiations with five major talent agencies -- WME, Paradigm, CAA, ICM and UTA -- scheduling meetings with the professional sports leagues looking to reschedule games in the buildings were the shows are set to take place and coordination with AEG who is going to offer refunds to its customers under the same terms and method as Live Nation. In total, Ticketmaster has already cancelled or postponed 30,000 events representing $2 billion in ticket sales and another 25,000 events that are still scheduled to take place through the end of year. Ticketmaster is expecting some of those events will be postponed or canceled throughout the year and will begin offering refunds on a rolling basis.

Read the complete report here.