Vulture article on the state of Broadway

[DaveyG]

Posted: 5/16/24 at 10:53am

https://www.vulture.com/article/peak-theater-broadway-nyc-hits-vs-flops.html

[ACL2006]

Posted: 5/16/24 at 11:15am

Interesting to hear that The Wiz will recoup before it goes back on tour. I think Hell's Kitchen will run for several years. Don't see any other new musical doing so. Maybe The Outsiders will be around for awhile if it can win Best Musical.

[Alex Kulak2]

Posted: 5/16/24 at 11:40am

We need to start seeing some transparency on the costs of Broadway, specifically on how much renting a theatre costs. There are 41 Broadway houses, and 31 of them are owned by three companies, you don't think there's some price fixing going on?

[RippedMan]

Posted: 5/16/24 at 11:43am

I think that goes both ways, right? Since a lot of the time they're one of the producers so they might waive a rental fee or reduce the few for a show they really want. 

It's always been an expensive gamble. 

[ErmengardeStopSniveling]

Posted: 5/16/24 at 11:47am

Alex Kulak2 said: "We need to start seeing some transparency on the costs of Broadway, specifically on how much renting a theatre costs. There are 41 Broadway houses, and 31 of them are owned by three companies, you don't think there's some price fixing going on?"

It's not "rent," per say, it's a cut of the box office plus reimbursing the theatre for house staff costs. The rates are pretty standard for commercial productions even beyond the big 3.

Are there some redundant positions on shows? Possibly. But that's because there are limits to what a house crew member can do vs a production crew.

[ErmengardeStopSniveling]

Posted: 5/16/24 at 11:54am

ACL2006 said: "Interesting to hear that The Wiz will recoup before it goes back on tour."

That is NOT what the article says:

"The current revival of The Wiz, which is selling well, had a commercial tour before opening, working its way toward recoupment well in advance of its New York arrival."

"working its way toward recoupment well in advance of its New York arrival" is a wordy way of giving no information.

Supposedly they put a few million MORE into the show after the tour for Broadway, in the form of a priority loan, which would have to get paid off prior to any money going to the regular investors. It helps that the tour and Broadway production are jointly capitalized (something that should be done more).

The article was an interesting read, but it could sort of be summed up as "everything is chaos and nobody knows anything right now."

Updated On: 5/16/24 at 11:54 AM

[bigbelterbaby]

Posted: 5/16/24 at 12:00pm

Let’s just be grateful there are people out there willing to spend money to create art that has no guarantee of recoupment. Articles like this make it all seem so fruitless and meaningless but look how impactful a show can be for people and society as a whole. Having a hand in that is more meaningful than any money for some. Not every show will be a Wicked or a Hamilton. It does make me sad how insular the industry seems at times, multiple same names attached to multiple shows, I think the upper echelons of Broadway would benefit being a bit more open minded. You hear a lot how newbies have to be “accepted” by the Broadway “community” which makes it seem too close knit. And it’s frustrating knowing how expensive it is to create art and very few people with money support the theatre. But thanks to those that do! 
 

 

…

[ErmengardeStopSniveling]

Posted: 5/16/24 at 12:47pm

Change is slow.

Part of the secularness is, I think, because there are so many small details and relationships. It's not just having a great idea, it's being able to make that idea happen and finding an audience for that idea.

When there's so much money on the line, people making the hiring decisions gravitate towards people who have done this kind of thing before. So we get Kenny Leon and Michael Grief and Susan Stroman and Michael Mayer and Joe Mantello constantly working, and designers who do 3-4 shows a year, or music supervisors with multiple shows. You can be a great regional theatre stage manager but crash and burn on Broadway because the job is quite different.

Shows also take so long to develop that sometimes you end up in a Michael Grief situation where there are 3 openings in 4 months.

The good news is a lot of newer people have come up the ranks since Broadway's reopening. Danya Taymor and Jessica Stone will now be among the most sought-after directors of new musicals. Rebecca Frecknall and Maria Friedman are probably getting lots of offers. Six is consistently churning out some of the best young female MT talent (and was the Bway debut pretty much its entire creative team). Seaview is a producing powerhouse run by a 30-year-old. People like Shaina Taub and Justin Peck have had big career boosts. Even flops like Ohio have introduced a lot of new talent to Broadway.

Updated On: 5/16/24 at 12:47 PM