The 1970s were a time of great creative freedom on Broadway (as well as in Hollywood.)
On Broadway it was a time when Michael Bennett, Bob Fosse and Hal Prince Tune were creating their iconic stagings. Sondheim finally began getting the recognition he deserved, and Broadway still welcomed new talents (Charlie Smalls, Judd Woldin, Stephen Schwartz and Marvin Hamlisch.) Musicals began exploring new ways of telling stories, exploring deeper more complex characters and still providing plenty of razzle-dazzle. That creative spark flickered away in the 1980s, as Broadway returned to the empty and overblown spectacles of its formative years.
Today, there is too much reliance on familiar titles - popular films translated to the stage and revivals. Oh sure, there were a lot of revivals in the 1970s: It seemed like FIDDLER, DOLLY and MAN OF LA MANCHA were constantly being brought back, but there were plenty of new shows and even an unexpected revival of a 1950's flop that proved a popular if not financial success. (CANDIDE - Hal prince again.)
I felt then that producers (like Prince) were more willing to take risks. Today, producers focus too much on marketing experts.
As Goddard Lieberson said when he was president of Columbia Masterworks - Never let an accounts tell you what records to make. You can teach artistic people to make business decisions but you cannot teach business people to make artistic decisions.
Cast albums are NOT "soundtracks."
Live theatre does not use a "soundtrack." If it did, it wouldn't be live theatre!
I host a weekly one-hour radio program featuring cast album selections as well as songs by cabaret, jazz and theatre artists. The program, FRONT ROW CENTRE is heard Sundays 9 to 10 am and also Saturdays from 8 to 9 am (eastern times) on www.proudfm.com