Go Magazine: The Biz of Broadway

7/31/2019 Go Magazine: The Biz of Broadway

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THERE’S NOTHING STOPPING YOU

JUNE

COMPLIMENTARY COPY

JUJU

COMPLIMENTARY COPY

’ ’ ’

Thrill rides, aquaticadventures and a foododyssey fit for a pint-sized palette

A FAMILYAFFAIR

BASEMENT JAXTreasures from Jacksonville’s

underground Craft Movement

WORLD CUPSNew York’s Finger Lakes

District takes on Germanywith picture-perfect

Riesling vineyards

S U M M E R S P E

C I A L



JUNE 67 GO MAGAZINE

BUSINESS

BY M A T T H E W W E X L E R

ANYTHING GOES ON 42ND

STREET, WHERE THE PRODUCERS HOPE TO SUCCEED IN BUSINESSWITHOUT REALLY TRYING BUTOFTEN STRUGGLE TO PAY THE RENT

AND THEIR STAFF OF MUSIC MEN,DREAMGIRLS AND CHORUS LINES.

HEN THE CURTAIN

goes up on any given

production, an audi-

ence is silenced into a

kind of awe and reverie—

what they don’t know is

what happens behind the

production in the weeks

leading up to opening night.

While NBC’s hit show Smash

(picked up for a second season)

chronicles the evolution of a

Broadway musical with theatri-cal impresarios tossing martinis and the creative

team wrapped up in torrid love aff airs, the real nuts

and bolts of building a Broadway showstopper is an

ever-evolving puzzle of artistry, finance and good

old-fashioned luck.

If there was a tried and true formula, all 40 of

Broadway’s theaters would be occupied and at capac-

ity all the time. Theater is a wild card, though, which

perhaps makes it that much more elusive for those

who want—and can aff ord—to invest, it also makes

it nearly impossible to predict a success or failure. A

tight economy over the last several years has led to

more hands in the pot to get a show off the ground

but those investors are on to something—but Broad-

way is by no means bankrupt. In fact, last year its

gross earnings topped $1 billion, even in the midst of

a recession. Nevertheless, the line between investor

and producer has blurred—what once was a profes-

sion has become fair game for smalltime “donors.”

This season, shows like Godspell, are being pro-

duced like a Kickstarter campaign. According to theNew York Times’ theater critic Patrick Healy, “Broad-

way musicals usually cost $5 million to $10 million

to produce, and that money often comes in checks

for $50,000 or more from experienced investors who

wouldn’t mind the tax write-off if the show flops.

But this season’s revival of Godspell has introduced

a new breed: shareholders who have invested as little

as $1,000.”

I T T A K E S R E A L B U S I N E S S S AV V Y T O S U R V I V E I N T H E

U L T R A C O M P E T I T I V E W O R L D O F B R O A D WA Y T H E AT E R .

TA K E A P E E K B E H I N D T H E C U R TA I N T O S E E H O W

E N T R E P R E N E U R S E N S U R E T H E S H O W S G O O N .

H

g

sarios to



JUNE 68 GO MAGAZINE

BUSINESS

Anyone who has invested in a show will likely

tell you they are a producer, but the real producers

are on the front line assembling the creative team,

managing the financial health of a production and

overseeing all of the intricacies to market and sell

their product. The lead producers of Peter and the

Starcatcher , a prequel to Peter Pan, established a

weekly producer’s meeting to engage investors, cre-

ate buzz and provide details on rehearsals, marketing

and tickets sales.

Peter and the Starcatcher incubated at William-

stown Theatre Festival, La Jolla Playhouse, and New

York Theatre Workshop. The Book of Mormon opened

cold though they had Avenue Q’s Robert Lopez and

South Park’s Trey Parker and Matt Stone included in

the creative equation. It’s been a runaway hit with a

record-breaking premium ticket price of $487. Rich

Entertainment Group, the producers hoping to bring

Becoming Chaplin to Broadway next season, have

gone a step further by presenting workshops not only

to backers who may have a specific vested interest,

but also to test audiences.

Star power (think Hugh Jackman and Daniel

Craig) is always a factor when producers are looking

for ticket sales from a more mainstream audience.

Earlier this year, Harry Connick, Jr. headlined a

revival of On a Clear Day You Can See Forever for a

reported $50,000 per week as compared to the aver-

age actor’s weekly salary of $1422, but even this

classic crooner couldn’t save the show, which closed

after 57 performances. Academy Award winner Philip

Seymour Hoff man resurrected Death of a Salesman to

sold-out houses. Casting Director Duncan Stewart,

whose talent roster for the long-running musical

Chicago has included everyone from Jerry Springer to

Christie Brinkley, says, “For every star you put into a

show, you better damn well have the finest Broadway

caliber talent to back it up.”

But the ultimate prize is a Tony Award, which is

worth its weight in gold in consequent ticket sales.

And that’s why 25 percent of all the new shows in the

2011-12 season opened in late April, to squeak in open-

ing night before the cut off date for Tony eligibility. So,

what’s the real secret to Broadway’s success and fail-

ures? Timing, luck, instinct and talent—just like any

other business venture...only slightly more drama.

LONGEST RUNNING SHOWS OF ALL TIME

1 Phantom of the Opera

2 Cats

3 Les Misérables

4 Chicago (Revival)

5 A Chorus Line

(16) Life with Father

BROADWAY BY

THE NUMBERS:

12+ milliontickets sold each year

44%of tickets are purchased online.

77 shows on the boardslast year

$10 billionBroadway’s contribution toNew York City ’s economy.

65%Broadway audience is female,

$244,100average income ofBroadway audience

44

years old–average age ofBroadway theater-goer

83%of admissions are madeby Caucasians

$75 millionSpiderman: Turn off the Dark

The most expensive show inBroadway history.

30%of Broadway audiences havea college education

THE “IT”PRODUCER

orget Eva Peron and keep your

eye out for Eva Price, one of

Broadway’s hottest up and

coming producers. Recently

named by Crain’s New York Business

as one of 2012’s “40 Under 40,” she has

quickly moved up the ranks from her

first Broadway venture in 2006. This

season Price is a lead producer on Peter

and the Starcatcher as well as one of the

driving forces behind the much-antic-

ipated revival of Annie, scheduled too

open this fall. Here are three questions

Price asks before dropping (or raising)

the greenbacks:

“Why does this show exist?

So many times a show opens on Broad-

way and people are scratching their

heads. Is it a completely rethought

revival? A star-turn for an actor? Or a

monumental style that’s never been

seen before?”

“Show me the commercial profit. What

is the branded appeal?

I want to see something smart and

relevant. Last year’s Tony Award

for Best Musical went to The Book of

Mormon—it’s volatile and exciting and

it makes people happy. That’s a win-

ning combination.”

“What is the emotional connection?

You cannot have good theater if

this doesn’t exist. You might as well

be watching TV. Live theater is the

only thing left in entertainment that

demands a connection with the viewer,

and that’s what makes it so exciting.”

0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000NUMBER OF PERFORMANCES

BROADWAY’S LONGEST RUNNING PLAY

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Go Magazine: The Biz of Broadway