Riedel: B'WAY Feels Money Slump -- Shows Scrapped As Backers Hold Back
Riedel: B'WAY Feels Money Slump -- Shows Scrapped As Backers Hold Back
#1Riedel: B'WAY Feels Money Slump -- Shows Scrapped As Backers Hold Back
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.
"The Spectacle has, indeed, an emotional attraction of its own, but, of all the parts, it is the least artistic, and connected least with the art of poetry. For the power of Tragedy, we may be sure, is felt even apart from representation and actors. Besides, the production of spectacular effects depends more on the art of the stage machinist than on that of the poet."
--Aristotle
Updated On: 8/13/08 at 10:07 AM
--Aristotle
#2re: Riedel: B'WAY Feels Money Slump -- Shows Scrapped As Backers Hold Back
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.
"The Spectacle has, indeed, an emotional attraction of its own, but, of all the parts, it is the least artistic, and connected least with the art of poetry. For the power of Tragedy, we may be sure, is felt even apart from representation and actors. Besides, the production of spectacular effects depends more on the art of the stage machinist than on that of the poet."
--Aristotle
Updated On: 8/13/08 at 10:12 AM
--Aristotle
#2re: Riedel: B'WAY Feels Money Slump -- Shows Scrapped As Backers Hold Back
Posted: 8/13/08 at 10:13amPlease shrink that post down - it's plagiarism if you copy the whole thing.
"Y'know, I think Bertolt Brecht was rolling in his grave."
-Nellie McKay on the 2006 Broadway production of The Threepenny Opera, in which she played Polly Peachum
-Nellie McKay on the 2006 Broadway production of The Threepenny Opera, in which she played Polly Peachum
walkedthroughmany
Leading Actor Joined: 3/25/07
#3re: Riedel: B'WAY Feels Money Slump -- Shows Scrapped As Backers Hold Back
Posted: 8/13/08 at 11:29amIt's not plagiarism if you cite a source.
dramamama611
Broadway Legend Joined: 12/4/07
#4re: Riedel: B'WAY Feels Money Slump -- Shows Scrapped As Backers Hold Back
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.)
If we're not having fun, then why are we doing it?
These are DISCUSSION boards, not mutual admiration boards. Discussion only occurs when we are willing to hear what others are thinking, regardless of whether it is alignment to our own thoughts.
Tom1071
Broadway Legend Joined: 9/1/04
#5re: Riedel: B'WAY Feels Money Slump -- Shows Scrapped As Backers Hold Back
Posted: 8/13/08 at 1:37pmI think everyone should just relax and breath.
#6re: Riedel: B'WAY Feels Money Slump -- Shows Scrapped As Backers Hold Back
Posted: 8/13/08 at 1:37pmOr breathe.
"Winning a Tony this year is like winning Best Attendance in third grade: no one will care but the winner and their mom."
-Kad
"I have also met him in person, and I find him to be quite funny actually. Arrogant and often misinformed, but still funny."
-bjh2114 (on Michael Riedel)
-Kad
"I have also met him in person, and I find him to be quite funny actually. Arrogant and often misinformed, but still funny."
-bjh2114 (on Michael Riedel)
#7re: Riedel: B'WAY Feels Money Slump -- Shows Scrapped As Backers Hold Back
Posted: 8/13/08 at 1:40pmI invented plagiarism.
"I'm an American, Damnit!!! And if it's three things I don't believe in, it's quitting and math."
Phyllis Rogers Stone
Broadway Legend Joined: 9/16/07
#7re: Riedel: B'WAY Feels Money Slump -- Shows Scrapped As Backers Hold Back
Posted: 8/13/08 at 1:40pmI think everyone should vote for TheAaron!
TheAppleTree
Chorus Member Joined: 2/15/07
#9re: Riedel: B'WAY Feels Money Slump -- Shows Scrapped As Backers Hold Back
Posted: 8/13/08 at 2:03pmI 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
Broadway Legend Joined: 11/3/06
#10re: Riedel: B'WAY Feels Money Slump -- Shows Scrapped As Backers Hold Back
Posted: 8/13/08 at 2:17pmNO, it's overzealous mods. They also took down the [tos] negative thread.
#11re: Riedel: B'WAY Feels Money Slump -- Shows Scrapped As Backers Hold Back
Posted: 8/13/08 at 2:34pm
"Don't nobody bring me NO BAD NEWS!"
-Evilene and the BWW mods
Those Blocked: SueStorm. N2N Nate. Good riddence to stupid! Rad-Z, shill begone!
#12re: Riedel: B'WAY Feels Money Slump -- Shows Scrapped As Backers Hold Back
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.
#13re: Riedel: B'WAY Feels Money Slump -- Shows Scrapped As Backers Hold Back
Posted: 8/13/08 at 3:20pmMaybe 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.
"There is no problem so big that it cannot be run away from."
~ Charles M. Schulz
#14re: Riedel: B'WAY Feels Money Slump -- Shows Scrapped As Backers Hold Back
Posted: 8/13/08 at 3:20pmWhy 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 $?
Do you know what happens when you let Veal Prince Orloff sit in an oven too long?
fvalle24
Stand-by Joined: 7/11/08
#15re: Riedel: B'WAY Feels Money Slump -- Shows Scrapped As Backers Hold Back
Posted: 8/13/08 at 3:25pmWait, Shrek's production cost is $20 million! wow...
broadwaybelter
Broadway Legend Joined: 11/26/04
#16re: Riedel: B'WAY Feels Money Slump -- Shows Scrapped As Backers Hold Back
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....
Videos