#1
Posted: 8/9/09 at 12:05pm
On the very day that Variety reports that the fine (not to mention Tony winning) revival of HAIR has recouped its investment, Variety and the New York Post's theatrical gossip columnist both report trouble on another "highly anticipated" front:
Michael Riedel ON BROADWAY
August 7, 2009
THERE was a twitching on my web this week, and when I crawled out to
see what I'd caught, there -- all tangled up and weary from the
struggle -- was Julie Taymor's "Spider-Man."
The $45 million Broadway musical -- otherwise known as "The Show
Produced By People Who Have No Idea What They Are Doing" -- is in deep,
deep trouble.
Production crews at both the Hilton Theatre and the scene shop
where the gargantuan sets are being constructed have been put on
"hiatus" because the money has run out, several theater sources have
confirmed.
At the beginning of the week, production staffers were convinced the whole thing was going to be scrapped.
But a "Spider-Man" spokesman insists: "The production is scheduled
to begin previews on Feb. 25, 2010, as previously announced."
If that happens, I'll eat my young.
This show is in chaos, plagued not only by financial problems but also by a nasty internal power struggle.
Sony, which produced the "Spider-Man" movies, and Marvel, which controls the comic-book character, have lost faith in lead producer David Garfinkle, theater sources say.
The two corporations, with the backing of U2's Bono and The Edge, who've written the score, are going to sideline him, sources say.
One source speaks diplomatically of "restructuring."
Another is more blunt: "He'll be out by the weekend."
Garfinkle is a showbiz lawyer from Chicago who has virtually no
producing experience. But he managed to get hold of the show when the
original producer, Tony Adams, a seasoned veteran, died of a heart
attack four years ago.
"David was Tony's lawyer, and then Tony died and suddenly David was the producer of 'Spider-Man,' " one person says.
Garfinkle has never been able to tame Taymor, whose talent for creating thrilling stage images (as she did in "The Lion King") is matched only by her talent for blowing through budgets.
"You've got to be on top of her all the time," says a person who worked with her on "The Lion King."
"She'll spend days and days on one minute of stage time. It will be a brilliant minute, but it's expensive."
At a presentation for group-sales ticket agents last spring, the
dynamic Taymor introduced Garfinkle to the crowd. A young,
sweet-looking little guy in a suit waddled nervously onstage.
You thought: Here comes her lunch! And by all accounts, she's devoured him.
"So far, she has gotten pretty much everything she's wanted," says
a source who thinks that, the way things are going, the budget for
"Spider-Man: Turn Off the Dark" could easily hit $50 million.
(Maybe if they lose the pretentious "Turn Off the Dark," they'll save a couple of million.)
The betting is that Sony and Marvel will put Alan Wasser, a respected general manager, in charge of the show, keeping a tight leash on Taymor.
(Watch it, Alan, or you'll be her dinner.)
The "Spider-Man" spokesman insists: "There is no change in the production team."
The show's financial structure is odd. You can invest in the show
($45 million and counting) or in the redesign of the theater ($10
million).
Garfinkle has had trouble raising money for the theater redesign.
Industry insiders also wonder why "Spider-Man" hasn't started a big advertising push yet.
"It's a $45 million show -- they need money, and they're invisible," one person says.
Production sources say there'll be a "Spider-Man" ad blitz in the fall.
Meanwhile, once Garfinkle's been sidelined, Sony will restart production.
That's a relief.
For a minute, I was worried I wouldn't have much to write about this summer.
michael.riedel@nypost.com
Including the refinancing of the venue itself in some kind of show-related package certainly makes some kind of sense (if it is truely needed - I am so sick of set driven extravaganzas which rely more on theme park hydraulics than traditional theatre magic, and yes, I include hits like 'Titanic', 'Les Miz' and 'The Lion King', much as I loved the latter two and *most* of the work of Julie Taymor - a lot of the tone of Riedel's informants does seem to be fueled by jealousy) in a day when other countries build entire theatres for productions expected to run years, but problems with "redesign" of THIS theatre can't help but bring memories of how the snipers at 'Ragtimes's producer even before his other problems developed wrung their hypocritical hands over his doing much the same thing.
As Variety reports:
'SPIDER-MAN' musical halted?
Producers insist money issues won't derail show
by Gordon Cox, Variety
Should Broadway's Spidey sense be tingling?Rumors
have spread among legiters that the production sked for incoming
mega-musical "Spider-Man, Turn Off the Dark" may be threatened.
The
extensive work being done to prep for the technically demanding show,
both in the shop constructing the physical production and in the
theater where "Spider-Man" is due to bow, is said to have stopped this
week.
The halt is attributed to cash flow obstacles that
producers -- including David Garfinkle, Martin McCallum, Marvel
Entertainment and Sony Pictures Entertainment -- are working to
resolve, according to some in the industry affiliated with the show.
One
explanation suggests the delay stems not from problems in raising the
massive funds required for the tuner -- said to be capitalized at north
of $35 million -- but from issues in mobilizing those great big chunks
of coin.
A rep for the show would say only that the production
remains on track to begin previews at the Hilton Theater Feb. 25, with
an opening to follow some time in March.
Others attached to
"Spider-Man" acknowledge the funding hiccup but believe the situation
will be resolved without forcing a disruption of the musical's launch.
Nevertheless,
the chatter has served as an alarming suggestion of instability in a
production generally expected to become the sales juggernaut of the
2009-10 season.
Current work stoppage also comes hot on the heels
of a Marvel earnings report earlier this week that saw the company post
a 38% drop in profits on a 26% reduction in revenue during the second
quarter, a slide prompted largely by the lack of a major movie release
since "Iron Man" and "The Incredible Hulk" last year. (Still, Marvel
logged a profit of $29 million on revenue of $116 million.)
Most
legiters anticipate the musical, with music by Bono and the Edge of U2
and helmed by Julie Taymor ("The Lion King"), will rake in monster
amounts of cash right out of the gate. Even if reviews and word of
mouth prove dire, hype and curiosity are expected to drive ticket sales
for a solid stretch of time.
The season's Rialto cume would
surely suffer without that sales spike, thereby hindering Broadway's
ability to keep pace with the record-setting grosses posted for the
2008-09 season.
For now, "Spider-Man," with a cast that so far
features Evan Rachel Wood as Mary Jane Watson and Alan Cumming as the
Green Goblin, remains officially set to swing into previews in February.
We wont be seeing this in London!
Michael Riedel ON BROADWAY
August 7, 2009
THERE was a twitching on my web this week, and when I crawled out to
see what I'd caught, there -- all tangled up and weary from the
struggle -- was Julie Taymor's "Spider-Man."
The $45 million Broadway musical -- otherwise known as "The Show
Produced By People Who Have No Idea What They Are Doing" -- is in deep,
deep trouble.
Production crews at both the Hilton Theatre and the scene shop
where the gargantuan sets are being constructed have been put on
"hiatus" because the money has run out, several theater sources have
confirmed.
At the beginning of the week, production staffers were convinced the whole thing was going to be scrapped.
But a "Spider-Man" spokesman insists: "The production is scheduled
to begin previews on Feb. 25, 2010, as previously announced."
If that happens, I'll eat my young.
This show is in chaos, plagued not only by financial problems but also by a nasty internal power struggle.
Sony, which produced the "Spider-Man" movies, and Marvel, which controls the comic-book character, have lost faith in lead producer David Garfinkle, theater sources say.
The two corporations, with the backing of U2's Bono and The Edge, who've written the score, are going to sideline him, sources say.
One source speaks diplomatically of "restructuring."
Another is more blunt: "He'll be out by the weekend."
Garfinkle is a showbiz lawyer from Chicago who has virtually no
producing experience. But he managed to get hold of the show when the
original producer, Tony Adams, a seasoned veteran, died of a heart
attack four years ago.
"David was Tony's lawyer, and then Tony died and suddenly David was the producer of 'Spider-Man,' " one person says.
Garfinkle has never been able to tame Taymor, whose talent for creating thrilling stage images (as she did in "The Lion King") is matched only by her talent for blowing through budgets.
"You've got to be on top of her all the time," says a person who worked with her on "The Lion King."
"She'll spend days and days on one minute of stage time. It will be a brilliant minute, but it's expensive."
At a presentation for group-sales ticket agents last spring, the
dynamic Taymor introduced Garfinkle to the crowd. A young,
sweet-looking little guy in a suit waddled nervously onstage.
You thought: Here comes her lunch! And by all accounts, she's devoured him.
"So far, she has gotten pretty much everything she's wanted," says
a source who thinks that, the way things are going, the budget for
"Spider-Man: Turn Off the Dark" could easily hit $50 million.
(Maybe if they lose the pretentious "Turn Off the Dark," they'll save a couple of million.)
The betting is that Sony and Marvel will put Alan Wasser, a respected general manager, in charge of the show, keeping a tight leash on Taymor.
(Watch it, Alan, or you'll be her dinner.)
The "Spider-Man" spokesman insists: "There is no change in the production team."
The show's financial structure is odd. You can invest in the show
($45 million and counting) or in the redesign of the theater ($10
million).
Garfinkle has had trouble raising money for the theater redesign.
Industry insiders also wonder why "Spider-Man" hasn't started a big advertising push yet.
"It's a $45 million show -- they need money, and they're invisible," one person says.
Production sources say there'll be a "Spider-Man" ad blitz in the fall.
Meanwhile, once Garfinkle's been sidelined, Sony will restart production.
That's a relief.
For a minute, I was worried I wouldn't have much to write about this summer.
michael.riedel@nypost.com
Including the refinancing of the venue itself in some kind of show-related package certainly makes some kind of sense (if it is truely needed - I am so sick of set driven extravaganzas which rely more on theme park hydraulics than traditional theatre magic, and yes, I include hits like 'Titanic', 'Les Miz' and 'The Lion King', much as I loved the latter two and *most* of the work of Julie Taymor - a lot of the tone of Riedel's informants does seem to be fueled by jealousy) in a day when other countries build entire theatres for productions expected to run years, but problems with "redesign" of THIS theatre can't help but bring memories of how the snipers at 'Ragtimes's producer even before his other problems developed wrung their hypocritical hands over his doing much the same thing.
As Variety reports:
'SPIDER-MAN' musical halted?
Producers insist money issues won't derail show
by Gordon Cox, Variety
Should Broadway's Spidey sense be tingling?Rumors
have spread among legiters that the production sked for incoming
mega-musical "Spider-Man, Turn Off the Dark" may be threatened.
The
extensive work being done to prep for the technically demanding show,
both in the shop constructing the physical production and in the
theater where "Spider-Man" is due to bow, is said to have stopped this
week.
The halt is attributed to cash flow obstacles that
producers -- including David Garfinkle, Martin McCallum, Marvel
Entertainment and Sony Pictures Entertainment -- are working to
resolve, according to some in the industry affiliated with the show.
One
explanation suggests the delay stems not from problems in raising the
massive funds required for the tuner -- said to be capitalized at north
of $35 million -- but from issues in mobilizing those great big chunks
of coin.
A rep for the show would say only that the production
remains on track to begin previews at the Hilton Theater Feb. 25, with
an opening to follow some time in March.
Others attached to
"Spider-Man" acknowledge the funding hiccup but believe the situation
will be resolved without forcing a disruption of the musical's launch.
Nevertheless,
the chatter has served as an alarming suggestion of instability in a
production generally expected to become the sales juggernaut of the
2009-10 season.
Current work stoppage also comes hot on the heels
of a Marvel earnings report earlier this week that saw the company post
a 38% drop in profits on a 26% reduction in revenue during the second
quarter, a slide prompted largely by the lack of a major movie release
since "Iron Man" and "The Incredible Hulk" last year. (Still, Marvel
logged a profit of $29 million on revenue of $116 million.)
Most
legiters anticipate the musical, with music by Bono and the Edge of U2
and helmed by Julie Taymor ("The Lion King"), will rake in monster
amounts of cash right out of the gate. Even if reviews and word of
mouth prove dire, hype and curiosity are expected to drive ticket sales
for a solid stretch of time.
The season's Rialto cume would
surely suffer without that sales spike, thereby hindering Broadway's
ability to keep pace with the record-setting grosses posted for the
2008-09 season.
For now, "Spider-Man," with a cast that so far
features Evan Rachel Wood as Mary Jane Watson and Alan Cumming as the
Green Goblin, remains officially set to swing into previews in February.
We wont be seeing this in London!
Updated On: 11/5/10 at 12:05 PM
