#1
Posted: 11/23/07 at 10:46am
"Producers sued members of Local and its president James Claffey Jr. in Manhattan federal court seeking to recover damages for lost revenues… The League of American Theaters and Producers has said the strike that has darkened some 25 productions since November 10 is costing a total of about $17 million for every day it lasts." The law-suit was filed late Tuesday November 20."
25 shows closed with a loss of $17 million a day, would mean that each show would have to bring in approximately $680,000 a day or $4,080,000 a week, based on a 6 day week. Either the League has grossly under-reported their revenue in the weekly grosses, or someone at the League needs to get their adding machine fixed.
During the strike, the League does not have to pay salaries or benefits to any of the production's employees, so you can't count those as a loss. Their only expenses would be theatre rental, equipment rental, and utilities, and maybe some advertising.
I'd love to see how they are actually calculating their losses, maybe this lawsuit will open the books.
25 shows closed with a loss of $17 million a day, would mean that each show would have to bring in approximately $680,000 a day or $4,080,000 a week, based on a 6 day week. Either the League has grossly under-reported their revenue in the weekly grosses, or someone at the League needs to get their adding machine fixed.
During the strike, the League does not have to pay salaries or benefits to any of the production's employees, so you can't count those as a loss. Their only expenses would be theatre rental, equipment rental, and utilities, and maybe some advertising.
I'd love to see how they are actually calculating their losses, maybe this lawsuit will open the books.
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