How Much is Rent on a Broadway Theatre
How Much is Rent on a Broadway Theatre
#1How Much is Rent on a Broadway Theatre
Posted: 6/26/11 at 8:19pm
Just curious.
Is it a fixed number (ie $100,000) or a percentage? I read that some owners reduce the rent for shows that aren't doing so well. Do they also raise it for a sell out show (ie Book of Mormon)?
Thanks :)
Jon
Broadway Legend Joined: 2/20/04
#2How Much is Rent on a Broadway Theatre
Posted: 6/26/11 at 8:31pm
It's both - a base number PLUS a percentage of the box office. There's a standard clause which allows the theatre owner to evict a show that isn't selling well enough - especially if there are other new shows waiting for a vacant theatre.
BTW - those "theatre restoration fees" added to ticket prices? They are a way for the theatre owner to make MORE money. That money goes directly to the theatre owner and is not counted as part of the show's weekly gross.
dramamama611
Broadway Legend Joined: 12/4/07
#2How Much is Rent on a Broadway Theatre
Posted: 6/26/11 at 8:39pmThe owners of the theater can certainly agree to change the contract...but you aren't going to find any producers to greenlight an INCREASE just because they are doing well. the owners already make more money just because they are selling well.
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#3How Much is Rent on a Broadway Theatre
Posted: 6/26/11 at 8:48pmYou would think that, instead of pushing to increase the rent for a show that is doing well, the owners of the theatre would be happy to have such consistent income. No worrying about whether or not the show is going to shutter and close in a week, leaving them vacant for any period of time. And not to mention, as has been said, the percentage of box office sales they get.
#4How Much is Rent on a Broadway Theatre
Posted: 6/26/11 at 8:52pmI wonder if when a show is struggling the theater owners and producers agree to pay as little rent as possible for that reason, dragonlp86. Surely some rent is better than no rent..
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#5How Much is Rent on a Broadway Theatre
Posted: 6/26/11 at 9:03pmThat might explain why some shows with low grosses just seemed to carry on and on without posting closing notices for the longest time. The theatre just might not have had something better on the horizon, and didn't want to lose what rent they could currently get.
LegallyBroadway2
Broadway Star Joined: 8/19/10
#6How Much is Rent on a Broadway Theatre
Posted: 6/26/11 at 10:15pmwell look at how much spider-man spent on the foxwoods up to last month. . .
#7How Much is Rent on a Broadway Theatre
Posted: 6/27/11 at 1:21am
Plus, I believe that when a show has large advance sells, the interest on the money collected generally goes to the theater and not the producers. That can be quite a lot.
It is my understanding that the money is not paid to the producers until the performance.
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