#1
Posted: 5/6/20 at 12:19pm
Based on all we know, the economics of Broadway are fundamentally incompatible with a socially distanced phase in for reopening of crowded venues. For instance, a 50% reduction in capacity might be somewhat feasible for a cinema, (Where each presentation of the same film has a lower cost) however it would be an insurmountable challenge for live theater, where each performance incurs a high fixed AND variable cost. For many productions the slow melt of capital reserves while closed would be preferable to the flood of losses if reopened under unsustainable conditions.
And yet - as unemployment benefits and other support begins to dry up, staying closed imposes a massive cost on the individuals involved.
Is there any hope that producers, theater owners and unions can forge a broad agreement to support a phased in reopening - when timing is appropriate? Obviously, any returns of capital would be cancelled, producers could sacrifice on their fees, general managers likewise. Writers, composers, all would need to sacrifice some. If unions and talent would adjust their compensation, and theater owners do the same - all with a negotiated formula directly tied to govt. imposed capacity limits - is there a possibility that this industry could begin to reopen? (again - when appropriate) Would reduced earnings for a period of time be preferable to no earnings, and a likely series of closings by default as marginal productions run dry?
Have there been any discussions along these lines? Would the parties involved be able to trust each other?
Is there a better option? Government intervention?
And yet - as unemployment benefits and other support begins to dry up, staying closed imposes a massive cost on the individuals involved.
Is there any hope that producers, theater owners and unions can forge a broad agreement to support a phased in reopening - when timing is appropriate? Obviously, any returns of capital would be cancelled, producers could sacrifice on their fees, general managers likewise. Writers, composers, all would need to sacrifice some. If unions and talent would adjust their compensation, and theater owners do the same - all with a negotiated formula directly tied to govt. imposed capacity limits - is there a possibility that this industry could begin to reopen? (again - when appropriate) Would reduced earnings for a period of time be preferable to no earnings, and a likely series of closings by default as marginal productions run dry?
Have there been any discussions along these lines? Would the parties involved be able to trust each other?
Is there a better option? Government intervention?