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Nearly four weeks on, Foo Fighters fans are still waiting on refunds for the cancelled show. Image: Toby Morris

BusinessApril 28, 2022

Why are fans still waiting for Ticketmaster to refund their Foo Fighters tickets?

Ticketmaster
Nearly four weeks on, Foo Fighters fans are still waiting on refunds for the cancelled show. Image: Toby Morris

It’s nearly a month since the band’s Auckland concert was cancelled, and the refunds were promised to arrive weeks ago.

This story was updated at 3pm, April 28, to include a full statement from Ticketmaster…

The email came on the afternoon of March 30. Its contents were no surprise. After the tragic death of drummer Taylor Hawkins, rock band and regular Aotearoa visitors Foo Fighters announced they were cancelling their world tour, including an Auckland show set for December 17 at Western Springs Stadium.

“It is with great sadness that Foo Fighters confirm the cancellation of all upcoming tour dates in light of the staggering loss of our brother Taylor Hawkins,” the email read. “We’re sorry for and share in the disappointment that we won’t be seeing one another as planned.

“Instead, let’s take this time to grieve, to heal, to pull our loved ones close, and to appreciate all the music and memories we’ve made together.”

Sent out by Ticketmaster, the email went on to offer intricate details about refunds. New Zealand fans had given the ticketing company millions of dollars to scoop up Foo Fighters tickets, with general admission passes costing nearly $200 each.

Many would very much appreciate having their money back, and could probably put it to good use, possibly putting it toward tickets for some of the avalanche of concerts that are being announced in the country.

“Automatic refunds can take up to 3-5 business days to be processed to the card that was used to complete the transaction, once processed, please allow a further 3-5 business days for the funds to appear on your statements,” Ticketmaster said in its March email.

So, at best case, a little more than a week. Worst case? Two weeks.

Foos
Foo Fighters fans are still waiting for their concert refunds. (Photo: Getty Images)

Three weeks later, fans started getting angsty. They took to Facebook, posting angry messages under every post Ticketmaster made on the social media site, even the ones not related to Foo Fighters. They asked where their refunds were, raged at the delays and questioned the lack of communication.

“Why am I still waiting for my Foo Fighters refund?” wrote one fan under a post about a 7 Days comedy tour. “It’s been weeks. I have rung, emailed and on Messenger contacted the bank and it has not been received from you. But I get the same reply over and over and over again: ‘It has been paid’. It has not.”

This continued for days, with no response from Ticketmaster. Fans made suggestions, and swapped tips, like asking the bank to cancel credit card payments for the tickets. Others claimed the same thing was happening for cancelled Jimmy Barnes and Fat Freddy’s Drop shows.

Full disclosure: I’m waiting for a refund too. I’ve seen the Foo Fighters live more than a dozen times, including their opening slot for Sonic Youth here in 1996. I probably don’t need to see them again, but after two years in and out of lockdown the thought of standing in a grassy field with a warm beer swaying around to ‘Everlong’ was too good to pass up.

On Friday, 23 days after the event was cancelled, Ticketmaster finally broke its silence to the thousands of others waiting to get their money back. “Please bear with us,” the update read. “We have investigated and found an issue with our payment provider who experienced an outage when trying to process a bulk of refunds.”

Foo Fighters

Ahead of the long Anzac Weekend, Ticketmaster apologised and promised money would be in bank accounts this week. It initially tried to process the refunds on April 8. Now, on April 22, it was trying again. “Rest assured we are doing everything possible at our end to get refunds back to fans.”

It’s now Thursday morning, and there’s still no sign of my money. Fans are still raging on Facebook, requesting updates, comments, or any kind of communication. “What’s happening?” asked one. It’s a great question, one Ticketmaster won’t answer: I’ve tried contacting them for comment, and they haven’t responded.

Clearly, this is not OK. If Ticketmaster can set up tech systems to sell huge quantities of tickets and take large amounts of money in a very short space of time, they should also be able to set up a quick and easy process to return that money. Surely, after the past two years of postponements and cancellations, that’s something that should have been sorted.

We’re now approaching a full month. That is some bullshit.

I want to know how many millions Ticketmaster took from fans. I want to know how much interest that money is accruing every day it sits in a bank account. And I want to know what Ticketmaster is going to do with it. I doubt very much that any of it’s going to charity.

At the very least, I want to know why there’s such a stupid long delay – tell fans what’s happening, pick up the phone when media calls. Silence? That just sucks. No wonder there’s a massive backlash. No wonder ticket holders are losing trust.

“Answer your messages regarding Foo Fighters,” one recently wrote under a post promoting a Shrek stage show. “[I] see you have plenty of time to do social media posts.”

Exactly.

In response, Ticketmaster says: To fans who were expecting refunds between April 4-9, please continue to bear with us. We have investigated the issue and found that funds due to be processed during this period were held by our payment provider. We have been working hard to administrate an unprecedented amount of refunds, and have stressed the urgency of these funds reaching you urgently to our payment provider. They have confirmed today that they are processing the refunds again, and this may take up to 2-3 days. We sincerely apologise for the inconvenience and thank you for your ongoing patience. If funds do not reach your account within the next 2-3 days, please contact us here.

Keep going!
Want to buy a house? You don’t have to go it alone. (Image: Getty; additional design: Tina Tiller)
Want to buy a house? You don’t have to go it alone. (Image: Getty; additional design: Tina Tiller)

BusinessApril 27, 2022

How Co-own could get you on the property ladder

Want to buy a house? You don’t have to go it alone. (Image: Getty; additional design: Tina Tiller)
Want to buy a house? You don’t have to go it alone. (Image: Getty; additional design: Tina Tiller)

There has to be a better way to get on the property ladder than buying 50 years ago. With the prospect of owning a home a mere dream for so many, the option to Co-own may be the solution some are looking for. But how does it work?

It’s never been more difficult to buy a home in New Zealand than it is now. At the end of 2021, annual house price growth peaked at 30%, and with high costs of living, saving the amount needed for a deposit is becoming harder and harder.

Even with savings, a decent sized KiwiSaver fund to draw from, and a well-paying job, owning a home can still feel out of reach for huge proportions of first home buyers. For those outside of a two-income family, getting on the property ladder can often seem like an impossibility.

Reimagining what home ownership looks like can provide an alternative way into the market. Teaming up with others can create the resources required to get a foot in the door and then onto the ladder. Whether buying with your family, friends or flatties, the ability to share a home loan could change the game for many New Zealanders. The concept and process of co-ownership, although around for a while, hasn’t been that well-understood.

Kiwibank’s new Co-own aims to fix that. The Spinoff spoke to Philippa Scott, mobile mortgage manager at Kiwibank about what Co-own is, and how it could help Kiwi into their first homes.

A property sold sign in Auckland, 2017 (Photo: Fiona Goodall/Getty Images)

What is Co-own?

It’s where friends or family may be able to get on the property ladder sooner by teaming up to get a home loan. Combining savings with others offers customers the chance to achieve the deposit goal together and provides the ability to share ongoing property-related expenses such as home maintenance, rates, and insurance.

Is this a completely new idea?

Actually, no. Customers could always come together to jointly purchase a property. What Kiwibank is doing with Co-own is giving visibility to this alternative pathway to home ownership. We want customers to know that it’s there as an option, we have a process in place and we’re ready to talk about it. 

How would this work?

As a group, you’ll be combining resources to borrow money together so you can purchase a property. You’ll need to talk through everything among yourselves and understand each person’s goals and needs for buying a house. Discuss how much everyone can contribute and then speak with a Kiwibank home loan specialist to see whether Co-own will work for you. 

You’ll be guided through the conditional approval process together with your Kiwibank home loan specialist to figure out how much money you could borrow to spend on a property. Then it’s up to you to find a house that suits everyone’s needs!

When buying property with others, what do I need to think about?

Get a lawyer. Seriously, get a lawyer. A good property lawyer will be able to advise on the risks and help you draw up a property sharing agreement. The property sharing agreement is between all of the co-owners. You’ll want to go into detail about how your particular situation will work, so everyone understands their rights and obligations. A written agreement is absolutely vital to provide the guidance needed to support everything going to plan – and help out if things don’t go as expected.

I’m young, with good career prospects, a decent income and a growing KiwiSaver nest egg – but still years away from meeting the requirements for a home loan. How could Co-own get me there?

Let’s say you have a close friend who’s in a similar position to you. Individually, neither of you has enough saved for a 20% deposit, or sufficient income to meet loan repayments on your own to purchase a property. But together, you have enough saved for a deposit right now and your combined incomes would be enough to meet the loan repayments and other property ownership costs. Co-own could get you into a home together. 

Who would Co-own work best for?

There are many different ways Co-own can look, and it’s different for everyone, whether you’re borrowing with close friends, siblings, parents or even two couples teaming up. It can vary – but we do regard it as important that the applicants know each other well enough that there can be a genuine relationship of trust. We’ve helped brothers and sisters into joint home ownership. Often, applicants are already flatting with each other – or they may be long-term friends who agree to buy a house together as a way to get into property ownership. There are a lot of risks with co-ownership and borrowing money with others to think about and discuss with your lawyer. Things like how your credit rating could be impacted if things don’t go to plan. 

Is this a forever thing?

Not necessarily. It can be conceived as a stepping-stone from the start.  Co-owners may well go in with a plan to eventually go their own ways – either selling up and taking their respective capital gains (if any) and buying their own properties, or one party buying the other out after a period of time has passed. The property sharing agreement should set out a workable formula and process to follow for these and other scenarios.

What if things go wrong and one co-owner doesn’t meet their obligations under the home loan agreement?

We’ll discuss this with you during the application process – it’s very important to be clear on what happens in the worst-case scenario and how you would manage it. Parties to a joint loan agreement are jointly and individually liable. If one party can’t meet their financial obligations, we would give the other party the opportunity to pay and maintain that loan. 

Some form of income insurance is generally a very good idea. As all parties are responsible for the home loan, you would want to ensure you have protection in case something impacts on your ability to earn an income.

Is there more to know?

Taking the first step towards owning your own home can be a scary prospect, but Co-own could make it feasible for you sooner than you think. 

Find out more here.