Riedel: B'WAY Feels Money Slump -- Shows Scrapped As Backers Hold Back

[CapnHook]

Posted: 8/13/08 at 10:07am

http://www.nypost.com/seven/08132008/entertainment/theater/bway_feels_money_slump_124224.htm

Posted: 3:26 am
August 13, 2008

DARK clouds of recession are gathering over Broadway.

Producers, after a drink or two, admit raising money is becoming very difficult. One complains that backers who regularly used to cut checks for $200,000 have all but vanished.

Recently, a couple of shows announced for the fall - "Brigadoon" and "For Colored Girls Who Have Considered Suicide When the Rainbow Is Enuf" - scrapped their production schedules.

"Brigadoon" had trouble finding the right theater in New York, but sources say raising money for the bagpipe revival wasn't easy.

A big chunk of the change for "Colored Girls" "just evaporated," says a source; the production, to which Whoopi Goldberg leant her name as executive producer, may soon be entangled in a lawsuit brought by an investor.

"This is rapidly descending into nastiness," says a source.

Meanwhile, the producers of "Godspell," that perennial favorite from "Wicked" creator Stephen Schwartz, are still holding backers' auditions, even though the show is about to go into rehearsal for a September opening on Broadway.

"They have to hold a backers' audition for 'Godspell'?" marvels a producer not involved in the show. "Wasn't everybody in it in college?"

Also hunting for money while rehearsals are under way is "Turn of the Century," the new musical by "Jersey Boys" creators Marshall Brickman and Rick Elice.

Directed by Tommy Tune, the show opens next month at the nonprofit Goodman Theatre in Chicago. But $2 million in enhancement money from a group of New York producers has not materialized.

Elizabeth I. McCann, one of the New York producers, says: "We're looking for partners. It's a great show, but it's getting more and more difficult to raise money."

McCann, a veteran producer who remembers the economic woes Broadway faced in the 1970s, adds: "Everybody's tightening their belts and wondering just how bad the fall is going to be. I think it's going to be bad. We've been living on the tourist dollar for a long time, and it looks like it's drying up."

Another ominous sign: Advance sales for most of the new shows in the fall are weak, theater owners report. Only "Billy Elliot" is selling - more than $10 million and counting - followed by "Equus," starring Daniel Radcliffe, with $3 million.

A real laggard is "Shrek," a $20 million production that, sources say, has yet to break $5 million in advance ticket sales.

Updated On: 8/13/08 at 10:07 AM

[CapnHook]

Posted: 8/13/08 at 10:12am

God forbid I ever win the Powerball. I'd pull a Rosie and cut the checks out of my own pocket. For $100 million I could fund a dozen Broadway productions.

First priority: revive AIDA and cut all of Zoser's songs from the production, thus making it perfect.

Then: bring in original works so I can lose all my investments, however be artistically fufilled.

Updated On: 8/13/08 at 10:12 AM

[BustopherPhantom]

Posted: 8/13/08 at 10:13am

Please shrink that post down - it's plagiarism if you copy the whole thing.

[walkedthroughmany]

Posted: 8/13/08 at 11:29am

It's not plagiarism if you cite a source.

[dramamama611]

Posted: 8/13/08 at 11:36am

It's only plagiarism if you claim YOU wrote it.

(but I never understand posting both the link AND reprinting the article -- no biggie.)

[Tom1071]

Posted: 8/13/08 at 1:37pm

I think everyone should just relax and breath.

[Wanna Be A Foster]

Posted: 8/13/08 at 1:37pm

Or breathe.

[Pippin]

Posted: 8/13/08 at 1:40pm

I invented plagiarism.

[Phyllis Rogers Stone]

Posted: 8/13/08 at 1:40pm

I think everyone should vote for TheAaron!

[TheAppleTree]

Posted: 8/13/08 at 2:03pm

I noticed the 4 page Godspell thread has been removed from the board. In this type of situation has that been a sign the show isn't being canceled or is it a sign the official announcement is imminent?

[singingbackup]

Posted: 8/13/08 at 2:17pm

NO, it's overzealous mods. They also took down the [tos] negative thread.

[SNAFU]

Posted: 8/13/08 at 2:34pm

"Don't nobody bring me NO BAD NEWS!"

-Evilene and the BWW mods

[South Fl Marc]

Posted: 8/13/08 at 3:12pm

"First priority: revive AIDA and cut all of Zoser's songs from the production, thus making it perfect"

Or about as close to perfection as garbage can get. You want perfection - go back to the Verdi score, the Elton John one is just noise.

[gvendo2005]

Posted: 8/13/08 at 3:20pm

Maybe we could do what R&H did with "Carmen Jones," and get someone to give the Verdi score to "Aida" a contemporary sound and some fresh English lyrics. Maybe Tim Rice could keep his job, and we can find someone like Marc Shaiman to make the music sound modern arrangement-wise.

[fflagg]

Posted: 8/13/08 at 3:20pm

Why doesn't rich Whoopi or better yet Oprah write a check FOR COLORED GIRLS? Or is it not PC enough for holier than thou Oprah? How about Diana Ross coughing up some $?

[fvalle24]

Posted: 8/13/08 at 3:25pm

Wait, Shrek's production cost is $20 million! wow...

[broadwaybelter]

Posted: 8/13/08 at 3:27pm

"Or about as close to perfection as garbage can get. You want perfection - go back to the Verdi score, the Elton John one is just noise"

My sentiments exactly.

Though, in regards to the current financial slump with backers; it makes me worry about the future prospects of other shows....