Bright Star's financial troubles

[neonlightsxo]

Posted: 5/9/16 at 11:29am

‘BRIGHT STAR’ PRODUCER PLANS PRIORITY LOAN AS FIVE TONY AWARD NOMINATIONS OFFER PRICEY IMPRIMATUR

http://broadwayjournal.com/bright-star-producer-plans-priority-loan-as-five-tony-award-nominations-offer-pricey-lifeline/

TLDR: They've been grossing about 350k per week, and their nut is 500k.

"Its weekly gross at the Cort has averaged $370,000, according to the Broadway League, a trade association. About 9.5 percent of that, or $35,000 on average, goes to union pension-fund contributions, credit-card processing and other pass-through fees the production doesn’t pocket. Weekly operating expenses, which include actor and musician salaries, and stagehands’ pay, are about $500,000, according to a budget we obtained. Production costs were about $10 million.


Parnes said Bright Star has temporarily reduced expenses, including royalties and rent. He said the production plans to take out a priority loan—which is repaid before money’s distributed to original investors. The lender, he said, will be some of its roughly two dozen producers. Details of how much to borrow aren’t set, he said. As for advertising, don’t expect full-page ads in the Times."

Yikes.

Updated On: 5/9/16 at 11:29 AM

[hork]

Posted: 5/9/16 at 11:33am

Or they could just, you know, close.

[neonlightsxo]

Posted: 5/9/16 at 11:34am

Right? That would be common sense.

[nasty_khakis]

Posted: 5/9/16 at 11:36am

I'm guessing the producers are clinging to two things- a Tonys performance will hugely bump up sales and interest and the possibility of winning a major award, especially since they can basically say "the score/book/actress/whatever that beat Hamilton!"

[neonlightsxo]

Posted: 5/9/16 at 11:36am

It doesn't even mention the possibility of winning an award in that article, because they know that isn't happening. But the Tonys performance, yes.

[Scarywarhol]

Posted: 5/9/16 at 11:36am

We get one of these every spring. We know how it will end, but I'm always appreciative of the effort when it's a show with real heart or integrity. 

Last year, I was glad knowing that The Visit would hang on until the Tonys, fully expecting the closing notice the following morning. I got to see it a few more times. 

[TFMH18]

Posted: 5/9/16 at 11:37am

I think it's quite clear that the producers would have opted to close had the show not received all of those Tony nominations. Now (due to precedence) they're waiting to see whether sales will be bolstered from all of the accolades, and a Tonys broadcast performance. It's not that scandalous. 

[neonlightsxo]

Posted: 5/9/16 at 11:38am

I didn't say it was scandalous. Just that it isn't financially smart.

I wouldn't put Bright Star in the same category as The Visit, artistically, though I guess some people would.

[TFMH18]

Posted: 5/9/16 at 11:39am

Unlike The Visit, Bright Star DOES have commercial appeal (it's a feel-good musical starring a dynamo cast and catchy songs). And also unlike The Visit, a performance on the Tonys could actually make viewers want to see the show. 

[Scarywarhol]

Posted: 5/9/16 at 11:41am

I don't think it's close to The Visit either--not in terms of craft, and especially not in terms of its significance to Broadway's history/community. Just meant to say it's another show that is smaller, more offbeat, and more artistically motivated than much of what we get on Broadway. 

Updated On: 5/9/16 at 11:41 AM

[Scarywarhol]

Posted: 5/9/16 at 11:43am

Maybe it will help, but it's not like this show hasn't already had an anomalous amount of TV exposure for a new small show. I feel like I've seen Steve Martin promoting it all over the place, even doing bits related to it. 

 

Bright Star may be more crowd-friendly than The Visit, but I'll believe in its commercial appeal when it starts performing well commercially. 

Updated On: 5/9/16 at 11:43 AM

[neonlightsxo]

Posted: 5/9/16 at 11:44am

If it "DOES have commercial appeal", then why isn't it selling?

Yup, they've been on TV a lot.
Updated On: 5/9/16 at 11:44 AM

[Jordan Catalano]

Posted: 5/9/16 at 11:45am

It's a shame, this is SUCH a good show.

[dramamama611]

Posted: 5/9/16 at 11:48am

My brain...oy.  Sorry.

Updated On: 5/9/16 at 11:48 AM

[TFMH18]

Posted: 5/9/16 at 11:49am

"People HATED the performance on Colbert.  And they were only nominated for lights and set design...hardly awards that make people pop down money."

You're thinking of the wrong show, sir.  

[newintown]

Posted: 5/9/16 at 11:49am

I thought The Visit (like the similarly poorly received The Scottsboro Boys) was an artistic gem that was too sophisticated for a mass audience to embrace; Bright Star strikes me as a hokey morass of cornball clichés. I'm slightly surprised that the tourists haven't taken it to heart - but I feel exactly the same about Tuck Everlasting. Perhaps hokum and plastic sentimentality aren't the draw they once were.

[wonderfulwizard11]

Posted: 5/9/16 at 11:50am

I feel like people are overestimating what a Tony's performance can do for sales. Unless it's a really standout performance (like Fun Home last year), I don't really think performances can increase sales that much. I'm not saying Bright Star couldn't have a knockout piece on the Tonys, but since this year is already the year of Hamilton, I feel like the deck is a little more stacked against them. 

[TFMH18]

Posted: 5/9/16 at 11:54am

A Tonys performance certainly by no means guarantees elevated sales, but I do think an exceptional piece can help. For this reason, I have incredibly strong feelings on what bit of the show Bright Star must excerpt on the broadcast, but hopefully the producers choose wisely (namely, they choose to highlight the nominated and astounding Carmen Cusack). 

[Broadway Forever2]

Posted: 5/9/16 at 11:54am

Bright star seems like such a hokey musical in my opinion. I don't get the love awards are giving it. And it has no chance of winning the major Tonys. 

Maybe the Tonys performance will help it. 

 

[Scarywarhol]

Posted: 5/9/16 at 11:55am

re: newintown

I think the assessment of Tuck and Bright Star being avoided by audiences because they're hokey is sort of true, but I don't think it's so much that people are averse to sentiment. It's probably more of a cost/worth thing. There's just nothing about either that looks particularly current or exciting, to the extent that it would be worth spending $150. I was pleasantly surprised by Bright Star, as I think most who see it are, but it is not a show that really justifies a Broadway existence. I don't know what the answer would be for these smaller, simpler shows anymore. 

 

I'm still devastated that I missed The Scottsboro Boys. One of my favorite cast albums.


One wonders if The Visit and Scottsboro could be more successful in the future, with just the right production or stars. It seems like K&E scores, chronologically, have taken more time for people to fully appreciate. 

 

 

Updated On: 5/9/16 at 11:55 AM

[Hairspray0901]

Posted: 5/9/16 at 11:58am

This is upsetting to me as I LOVE Bright Star but looking at grosses and being at the show twice where the house is clearly not full it was pretty obvious something like this was coming. I don't want to see anyone in the Bright Star cast go, they're all insanely talented but, perhaps Steve Martin should join the show to boost sales? He could even join the band as the banjo player. I could definitely picture him as Daddy Cane or Daddy Murphy. (Ouch those character names lol). 

[neonlightsxo]

Posted: 5/9/16 at 12:01pm

Scarywarhol said: "One wonders if The Visit and Scottsboro could be more successful in the future, with just the right production or stars. It seems like K&E scores, chronologically, have taken more time for people to fully appreciate. "

 

I think that's absolutely true. The Broadway of 20 years from now will be blaming us for their failure.

[Jordan Catalano]

Posted: 5/9/16 at 12:03pm

Shows like SCOTTSBORO and THE VISIT are exactly why we need another broadway house similar to Circle in the Square. Those need to be done in a smaller, intimate venue like that where not only they can be experienced in the way they need to be, but where they'll stand a chance at succeeding. 

[Jarethan]

Posted: 5/9/16 at 12:08pm

I would imagine that any additional exposure that Bright Star gets, and the longer its run, will increase its chances for a good afterlife.  Touring company, local productions, etc.  that may be one of the thinks the money people are thinking.

[mamaleh]

Posted: 5/9/16 at 12:17pm

I just wonder whether the wider audience BRIGHT STAR is seeking will even be watching the Tonys to catch any performance from the show. I'm somehow doubtful that lovers of bluegrass music and tearjerker/happy reunion themes will mark their calendars to tune in.