Broadway Grosses: Week Ending 1/15/23- Page 2

[DrMonicaDeMoneco]

Posted: 1/17/23 at 11:36pm

Am I the only one confused by all the Some Like It Hot praise? The show only made $60,000 more than last week and most of that $$$ probably went to the local 1 department heads! 

[willep]

Posted: 1/18/23 at 12:10am

That top ticket price for The Music Man is just insane.

[ErmengardeStopSniveling]

Posted: 1/18/23 at 12:22am

Wick3 said: "This is awesome! Did MUSIC MAN recoup? I don't recall reading any announcement but I understand the producers don't need to make it public."

Per the NYT in September: "Horton said that the production has not yet recouped its $24 million capitalization costs, but that it will do so before closing." Now, that doesn't mean it's a huge cash cow –– maybe it returned 5-10% profit to investors like DOLLY. The real money will, hopefully, be on tour, sans Hugh.

No show has announced recoupment since the pandemic. We might see it more going forward, but I think it would have looked like bad taste last season. It's safe to say the following recouped:

2021-22 season
– SIX
– PLAZA SUITE
– MUSIC MAN
– possibly LEHMAN TRILOGY
– MJ must be close to it
– can't make any predix about FUNNY GIRL right now

2022-23 season:
– INTO THE WOODS
– PIANO LESSON (??)
– I don't know about two of the one-man shows, A CHRISTMAS CAROL and OLD MAN AND THE POOL. Cheap to run. ACC reused some elements created for the pre-Bway filming. Was OLD MAN was filmed for Netflix or some type of future release, which would factor into its recoupment?

Updated On: 1/18/23 at 12:22 AM

[JoeW4]

Posted: 1/18/23 at 12:22am

DrMonicaDeMoneco said: "Am I the only one confused by all the Some Like It Hot praise? The show only made $60,000 more than last week and most of that $$$ probably went to the local 1 department heads!"


It's notable because I think a lot of us assumed that, after its holiday bump, the show would return to the $500k-$600k range that it was making before. But now 2 weeks in a row it's held pretty strong, during what's theoretically one of the least busy times of year. I haven't seen the show, and I'm not planning to (it's not up my alley) - but it's encouraging to think that a show can still "find its legs" in this day and age, when most shows are either instant hits or DOA. Their numbers may or may not continue to hold, but it's a notable step in the right direction for them

Updated On: 1/18/23 at 12:22 AM

[DrMonicaDeMoneco]

Posted: 1/18/23 at 12:39am

JoeW4 said: "DrMonicaDeMoneco said: "Am I the only one confused by all the Some Like It Hot praise? The show only made $60,000 more than last week and most of that $$$ probably went to the local 1 department heads!"


It's notable because I think a lot of us assumed that, after its holiday bump, the show would return to the $500k-$600k range that it was making before. But now 2 weeks in a row it's held pretty strong, during what's theoretically one of the least busy times of year. I haven't seen the show, and I'm not planning to (it's not up my alley) - but it's encouraging to think that a show can still "find its legs" in this day and age, when most shows are either instant hits or DOA. Their numbers may or may not continue to hold, but it's a notable step in the right direction for them"

Ahhhh ok, got it! Thank you!

[jkcohen626]

Posted: 1/18/23 at 1:46am

It is still easily in the most trouble of the 4 remaining new musicals from the fall, but it just seems to be in a much better place than it was coming into the New Year.

[quizking101]

Posted: 1/18/23 at 7:11am

ErmengardeStopSniveling said: "Wick3 said: "This is awesome! Did MUSIC MAN recoup? I don't recall reading any announcement but I understand the producers don't need to make it public."

Per the NYT in September: "Horton said that the production has not yet recouped its $24 million capitalization costs, but that it will do so before closing." Now, that doesn't mean it's a huge cash cow –– maybe it returned 5-10% profit to investors like DOLLY. The real money will, hopefully, be on tour, sans Hugh.

No show has announced recoupment since the pandemic. We might see it more going forward, but I think it would have looked like bad taste last season. It's safe to say the following recouped:

2021-22 season
–SIX
–PLAZA SUITE
– MUSIC MAN
– possiblyLEHMAN TRILOGY
– MJ must be close to it
– can't make any predix about FUNNY GIRL right now

2022-23 season:
– INTO THE WOODS
– PIANO LESSON (??)
– I don't know about two of the one-man shows, A CHRISTMAS CAROL and OLD MAN AND THE POOL. Cheap to run. ACC reused some elements created for the pre-Bway filming. Was OLD MAN was filmed for Netflix or some type of future release, which would factor into its recoupment?"

If INTO THE WOODS didn’t recoup on Broadway, I’m certain that it will during the tour.

 

 

[Lot666]

Posted: 1/18/23 at 8:42am

With The Music Man now closed, might Phantom actually move up to #1 next week? 

[ACL2006]

Posted: 1/18/23 at 9:13am

Patti LuPone FANatic said: "I'm surprised to see that Chicago only played 7 shows."

 

They apparently used Tuesday as press night for Jinxx.

[perfectliar]

Posted: 1/18/23 at 9:27am

pethian said: "Well, this is a welcome surprise. Any theories about why this week bucked the expected trajectory for second week of January grosses?"

I'd assume the very mild weather helped. 

[jo]

Posted: 1/18/23 at 7:32pm

perfectliar said: "pethian said: "Well, this is a welcome surprise. Any theories about why this week bucked the expected trajectory for second week of January grosses?"

I'd assume the very mild weather helped."

Also, a number of shows closed this past week  - some quite popular...  and many might have wanted to see shows they liked one last time?

 

[yyys]

Posted: 1/18/23 at 7:56pm

maybe but that doesn't really mean anything cause next week is pretty much sold out?

 

Lot666 said: "With The Music Man now closed, might Phantom actually move up to #1 next week?"

 

[bdn223]

Posted: 1/19/23 at 11:07am

quizking101 said: "ErmengardeStopSniveling said: "Wick3 said: "This is awesome! Did MUSIC MAN recoup? I don't recall reading any announcement but I understand the producers don't need to make it public."

Per the NYT in September: "Horton said that the production has not yet recouped its $24 million capitalization costs, but that it will do so before closing." Now, that doesn't mean it's a huge cash cow –– maybe it returned 5-10% profit to investors like DOLLY. The real money will, hopefully, be on tour, sans Hugh.

No show has announced recoupment since the pandemic. We might see it more going forward, but I think it would have looked like bad taste last season. It's safe to say the following recouped:

2021-22 season
–SIX
–PLAZA SUITE
– MUSIC MAN
– possiblyLEHMAN TRILOGY
– MJ must be close to it
– can't make any predix about FUNNY GIRL right now

2022-23 season:
– INTO THE WOODS
– PIANO LESSON (??)
– I don't know about two of the one-man shows, A CHRISTMAS CAROL and OLD MAN AND THE POOL. Cheap to run. ACC reused some elements created for the pre-Bway filming. Was OLD MAN was filmed for Netflix or some type of future release, which would factor into its recoupment?"

If INTO THE WOODS didn’t recoup on Broadway, I’m certain that it will during the tour.



"

I have to assume Into the Woods recouped based on the multiple extensions and the fact that it played to packed houses with $2M weeks during its initial 8 week run. The main sticking point of getting the transfer to happen was figuring out how to make a limited transfer profitable so if it wasn't able to turn a profit during that initial 8 weeks someone was not doing their fiduciary duty to investors. I know it might of operated at loss in some weeks in October and November, but it had a reported capitalization of just $4M. If you do the back of the napkin math Into the Woods would of had to cost over $1.16M a week to operate in order for it not to recoup its investment.

While yes having 12 established actors, nearly all of whom are Tony award winners or nominees, as principals doesn't come cheap, I can't imagine such a barebones production is costing significantly more to operate than the $950K its costs Phantom of the Opera each week across the street. Yes I know, Phantom has had 35 years and legacy contracts to help perfect and penny pinch its operating costs, but simply comparing the fact that Phantom currently has a cast of 48 and pit of 24 to Into the Woods cast of 27 and 14 member pit, its hard to imagine Into the Woods costing significantly more to operate. 

Back to the math though below are projected profit for the production on based on different operating costs and note these number do not reflect the likely significant drop in operating costs the production saw after Sara Barillas left the production:

• $800K a week leads to $14.2M in operating profit minus $4M capitalization equating to a $10.2M return on investment
• $850K a week leads to $12.8M in operating profit minus $4M capitalization equating to an $8.8M return on investment
• $900K a week leads to $11.4M in operating profit minus $4M capitalization equating to a $7.4M return on investment
• $950K a week leads to $10.0M in operating profit minus $4M capitalization equating to a $6M return on investment
• $1M a week leads to $8.6M in operating profit minus $4M capitalization equating to a $4.6M return on investment
• $1.05M a week leads to $7.2M in operating profit minus $4M capitalization equating to a $3.2M return on investment
• $1.1M a week leads to $5.8M in operating profit minus $4M capitalization equating to an $1.8M return on investment
• $1.15 a week leads to $4.4M in operating profit minus $4M capitalization equating to a $416K return on investment
• $1.2 a week leads to $3.0M in operating profit minus $4M capitalization equating to the production loosing $983K of its investment