Economic Depression will kill new shows this fall- Page 2

[keen on kean]

Posted: 8/22/08 at 12:24am

frogs_fan - glad you survived, and thank you to you and all of the patient MET staff. I missed the 6-hour exchange line day, but everyone looked exhausted when I stood on the much shorter line for exchanges on Friday!

Of course, the major difference between the MET and Broadway productions is the subscriber base which has been growing at the MET, I believe. It is easier to weather a lack of success on some productions if you have the buffer of sold out productions during the season. Can you say "THAIS"?

The two concurrent Mamet productions are a curiosity. I believe they are both limited runs, though.

[Eagleman]

Posted: 8/22/08 at 2:20am

Keen,

Do you know anything about "Dr. Atomic" which has to be the most oddly named opera ever staged at the Met?

[frogs_fan85]

Posted: 8/22/08 at 6:50am

All I know about Faust is that it is going to be heavy on projections. That's all I can tell you at this point, at least until rehearsals start. They're only working on the Verdi Requiem and some of the set stuff for Salome and Giovanni.

[musicalmaster703]

Posted: 8/22/08 at 6:58am

I remember an old (Times?) article saying that ticket prices might raise to an unthinkable $80

[keen on kean]

Posted: 8/23/08 at 10:48pm

"Dr. Atomic" is not on my subscription but I am very intrigued by Robert Oppenheimer so I might end up trying to pick up a ticket. I missed the Gandhi opera last season and regretted it after I heard more about it. I have liked some of the newer operas - but can't say I would run out and see them again. In past seasons, I saw VIEW FROM THE BRIDGE and GATSBY, missed both the modern ones last season.

[Fosse76]

Posted: 8/24/08 at 1:39am

"Of course it does. If one can judge by the line at the Met Opera yesterday, the people who can afford to and want to will still see shows--and for the most part that's 90% of all audiences."

Not the best comparison. Firstly, while there are exceptions, most people who go to the Met don't generally attend Broadway shows. Second, Operas aren't continuously performed, so the audience only has a few select choices. Plus you have the subscribers, which pretty much allows them to put on duds since they have the built-in audience.

But I also agree with the sentiment...that people who can afford to go are still going to go. But Broadway is 70% tourists...no show can survive a drop in tourism...foreign tourists tend to go see the world-wide hits like Phantom, Chicago, Hairspray and Mamma Mia. If I've been reading the news correctly, the British Pound is starting to weaken as well, which will cause the deterioration of the Euro. Then we're really screwed.

[Steve2]

Posted: 9/25/08 at 1:10pm

I first thought "Economic Depression" was a bit extreme however in light of recent events, it appears not to be. I fear for how it will affect Broadway.

[Borstalboy]

Posted: 9/25/08 at 1:44pm

I guess that would include THE VISIT. What a pity. If there was ever a story that speaks to our current situation its that one.

[once a month]

Posted: 9/25/08 at 2:09pm

All I can say that it's a real shame that a show such as The Visit, can't make it north. The score was lush and different, and I still can't get the numbers out of my head. I still hold out hope that one day, it will open on Broadway. It was an interesting, daring and unusual show and I'd love to see both Chita and George Hearn treading the boards again. If only this 'new depression' would wipe out those so-called 'producer seats'!

[EugLoven]

Posted: 9/25/08 at 2:16pm

I am honestly very very scared about the health of Broadway through this coming winter.

Snow keeps the tourists away. Christmas usually brings-in a great deal of folks. But the bottom line is disposable income. I can barely afford to buy monthly groceries (let alone that $20 RENT movie ticket last night). People just aren't spending money anymore... settling for quiet nights at home if it means saving a dime.

We've already lost so much potential shows (that lost investors) and 3 Bway closings announced in this past week.

November - February could spell doom.

[PSLove302]

Posted: 9/25/08 at 3:41pm

It happens.

It's happened before.

This isn't a new thing, folks.

The economy WILL pick up...

Broadway isn't going to "die" -- enough with the dramatics!

[Amalia Balash]

Posted: 9/25/08 at 3:56pm

Broadway's survived recessions and even the Great Depression. But one thing that may be different this time around is the cost of so many shows. I don't see how a lot of families are going to be able to afford to come to NYC for the holidays and take in more than one show or sometimes even one. Hotel prices plus food prices plus transportation costs are going to make a lot of tourists second guess coming to NYC at the most expensive time of the year. Las Vegas is apparently seeing that now and I think NYC will see it this holiday season. Shows that can afford to offer cheap seats and stay open long enough to ride out this economic rollercoaster aren't going to be that plentiful. I'm lucky enough (for this question at least) to only have to worry about paying for me. And getting to see shows is something that I'm willing to spend money on and cut back in other areas. But not everyone may feel like they can make the same choice. Producers are going to be making decisions like those recently made with Xanadu and Legally Blonde and [tos]. And backers are going to be having second thoughts while they wait for their own special economic bailouts to be announced.

[Kitzarina]

Posted: 9/25/08 at 4:03pm

For me the scariest possible outcome of an Economic Depression would be the death of challenging material on Broadway. In an age where shows like Caroline, or Change and Grey Gardens can close severely in the red while tourists continue to flock to spectacle-filled and substance-lacking shows like Wicked, what producer is going to be willing to finance a small artistc show on Broadway? We've already seen how difficult it is for niche shows like [title of show] and Passing Strange to survive; even last season's "breakout hit," Spring Awakening, is faltering at the box office.

Maybe this is me being the theatre snob I'm constantly accused of being, but I can't imagine anything worse than a Broadway that insists on form over substance in order to make a profit. The theatre should be challenging and make us view the world and our individual lives with a new perspective that just isn't possible with any other medium. If we continue the current trends of turning to Hollywood blockbusters instead of allowing up-and-coming composers the chance to express themselves as artists, Broadway will be closer to death than anything the economy to this point has done.

[grnsmwhr]

Posted: 9/25/08 at 6:39pm

"Also, hotel prices in NYC are OBSCENE from even a year ago. If you can afford shows, you can't foot the hotel bill. That's what will kill the entertainment industry. "

I was so excited to get cheap airfare to come see some shows, only to find out the hotel prices have doubled and tripled in the last six months. This may be my last trip for a while.

[massofmen]

Posted: 9/25/08 at 7:28pm

it's weird how right I was.

[Mr Roxy]

Posted: 9/25/08 at 7:46pm

As long as facility fees remain we will be OK.

[Toddlin2]

Posted: 9/25/08 at 7:53pm

Don't believe all the hype. This isn't remotely like the 30's Depression and it's not going to be. What it is, however, is economic Darwinism. As someone pointed out earlier in this thread---the weak will die but the strong will survive.

[DancerGirl16]

Posted: 9/25/08 at 11:11pm

Of course the economic recession is going to have a gigantic impact on Broadway's season. My own family has always been considerably "well-off," yet, when I asked my mother to allow me to charge Broadway tickets to her ATM account in exchange for the actual cash that she would have otherwise put in there, she said, hold off, lets see what's happening. So even I, myself, an dedicated theater fan - is being advised to put it off. YET, while I resent putting "names" in shows just because they are "usher in Chicago"..etc...many of the shows will be minorly effected. For example, Equus...will still sell. Shrek will still sell as a tourist attraction. Until Xanadu closes they are going to sell well. So while it may be a harsh season especially for the less "commercial" productions, which I hope can get through this, I do not think that Broadway is going to crash completely. However, just like after September 11th occured...the industry overall will be taking a harsh hit. But I think it can make it!

[fanadu1996]

Posted: 9/25/08 at 11:20pm

wicked recouped in a year and a month, i believe?
Updated On: 9/25/08 at 11:20 PM

[BroadwayBound115]

Posted: 9/25/08 at 11:41pm

In the Legally Blonde tour blog, it said that Mary Poppins and Little Mermaid took a deep dive after labor day and that things are looking grim. It is a sad thought to think that shows won't get the glory of 20 years running or even 5 or 6 years. I mean Legally Blonde isn't a Tony Winner but it definitely is an entertaining show. Its also sad that these actors are losing their jobs. What a crappy state our country is in. I hope in the years to come there will be some major changes because right now everyone is in the same boat.

[KJisgroovy]

Posted: 9/26/08 at 1:08am

"It is the airlines and hotels that are jacking up prices to make up for debt, so less people overall are traveling and those that do are paying the price."
"I was so excited to get cheap airfare to come see some shows, only to find out the hotel prices have doubled and tripled in the last six months. This may be my last trip for a while."

I'm a student but budget well and money is not an issue and I have come to Broadway twice a year for the last eight years or so. I'm coming next week, and had prearranged to stay with a friend and thought maybe I'll stay in a hotel for a night... just for comforts sake... anyway... the prices were shocking... shocking from about a year ago. So much so, there's no way I can justify coming back to NYC until the prices go down or I win the lotto. 300 dollars a night at the Red Roof Inn? At the Hampton? It's not economically realistic for me... and I'm a devoted fanatic. I've been priced out of the market.

kmc

[BroadwayProducer2]

Posted: 9/26/08 at 4:24am

I understand that there is an economical crisis but still..
Average hostel price in NYC $15-$30 a day!
Average discount ticket for a Broadway show is $49 for orchestra and close to stage! (if u buy in the box office).
Average fast food meal - $8.
So to come to nyc for a day and see 1 great Broadway show from the orchestra and close to stage u need about $100 + plane/bus/train tickets cost.
SO it’s not so bad. Of course if u want to stay in 4-5 star hotel and eat in 2-3 star restaurants.. yeah in this case it’s bad ))

YouTube: Broadway on Broadway 2008 review

[A Fleur De Toi]

Posted: 9/27/08 at 4:00am

Wicked took one and a half year to recoup? I thought they made a million per venue per week!

Anyhoo, if majority of BW shows fail to recoup, how come there are still new shows every year? Surely investors must have noticed the trend. Do BW shows get some sort of subsidies or something from the government?

And I totes agree about the exorbitant prices for accommodation- that's what is preventing me from going to NYC this summer. Despite the fact I would willingly splurge on say 10 BW shows.


"For me the scariest possible outcome of an Economic Depression would be the death of challenging material on Broadway. In an age where shows like Caroline, or Change and Grey Gardens can close severely in the red while tourists continue to flock to spectacle-filled and substance-lacking shows like Wicked, what producer is going to be willing to finance a small artistc show on Broadway"

Perhaps a move towards minimalist staging for small artistic shows? Start with lower costs and recoup faster. Tourists are going to flock to spectacle filled and substance-lacking shows anyhow, its the regular theatre goers that determine the fate of the smaller bw and off bw shows.

[roadmixer]

Posted: 9/27/08 at 9:46am

As far as Europe getting colds or flu based on the USA remember that Europe (and much of the rest of the world) is in a much stronger position economically than back when that phrase was coined. Just look at the strong buying power of European tourists in the states versus our weak position there. That was not always the case.

Hopefully, if the economy surrounding Broadway tightens up it will have a net positive effect... more reasonable ticket pricing, theatre owners charging less rent, shows actually needing to be good before being produced, less wasteful spending on bells and whistles without the substance.... It could be a renaissance of the days before the dearth of ideas which have led to reality-TV-itis!

[Steve2]

Posted: 11/19/08 at 7:27am

Below is an article from USA Today. It's pretty poorly written and has few new details to those on this site however it's the first I have seen on this topic other than the New York Times.

The user comments to the article are funny but pathetic and I don't expect much intelligence from people anyway.
Economy acting out on Broadway attendance