The sobering financials of broadways latest season.

Things are fine. That's just not an attention grabbing headline.


Most shows lose money, and the more they risk the more they lose. And the big losers won't miss a dime of it.

The article as usual includes the usual embarrassing level of naiveté mixed with some aphorisms that don hold up that well under analysis. But oh well.

Updated On: 7/11/19 at 11:40 PM

If 16 open runs closed, that would be more startling. But a lot of the shows on that list were closing before Labor Day no matter what...

I know just enough about Broadway box office stuff to make a fool of myself here, but doesn't this happen every single year? Isn't it actually better for plays?

Most plays that open in the spring close by Labor Day or much sooner, either because they don't make money or because the stars in them have other commitments. The lone long-running hit play this season is To Kill a Mockingbird, but this seems like a decent season for investors in plays. The Ferryman recouped and probably closed too soon. Network recouped. What the Constitution Means to Me will come close. Burn This might come close if the article is correct.

That's pretty good, isn't it? In recent years, many people have bemoaned the impossibility of moneymaking, worthwhile plays on Broadway. Frankie and Johnny had other issues, but one of its problems was that it was a two-person play opening in the middle of Tony season with a bunch of praised and popular plays (including one that basically beat it to the punch and had bigger stars).

As for the musicals, there appear to be only two shows that will likely make a profit, Hadestown and Ain't Too Proud. That's not a high percentage of hits, but compared to what season? In the vaunted season of Hamilton, there was one other musical, Waitress, that really thrived. School of Rock turned a profit, as I recall. That's three new musicals.

In 2017, there were two hits, Dear Evan Hansen and Come From Away, and they're still playing. Everything else lost money.

Last year wasn't a bonanza. The Band's Visit recouped but didn't last. Mean Girls and Frozen are plugging away but are regarded as underperforming shows given the popularity of the source material.

What's so different about this year?

One quick thought for what it may be worth: Broadway produces products of great value, crafted by many of the best in the land of writers, composers, musicians, costume designers, performers of all kinds, and others that I left out.

As evidence of the value we have the people who fly 2000 miles to New York for a rushed visit to five or six theaters on a weekend. Also the relative success of touring companies.

There are still let’s say conservatively hundreds of thousands whose demand for the Broadway product is not being met. Find a way to get the product to those people in one way or another.

operating costs going up every year...capitalization costs going up every year...same amount of seats in the theaters.

tipping point coming soon...

I was looking on Ticketmaster for seats for Tootsie for this weekend. Both shows Saturday and the Sunday matinee must have 70-80% of available seats open. I wonder what if any advance they have.

To me there seems to be a difference between this season and previous seasons (excluding last year). For the last 10 - 15 years, business was great right up until Labor Day. I assume a lot of the producers of shows that are closing in early August realized that that is no longer the case. Kids are going back to college in mid-August and, increasingly, grade schools are starting before Labor Day. So, there is no point to wait to Labor Day...might as well close before the losses pile up. I suspect we are seeing a new pattern...instead of Labor Day, the new normal for closing will be mid-August, losing about three weeks in the process.

I agree with posters who say that this has always been the case, the majority of shows each season have always lost money in their Broadway runs. How do they attract investors if that is the case? I assume that some investors love the theatre, some love the possibility of Tony awards, some believe in portfolio theory, i.e., 10 flops can be offset by one Hamilton, some are gamblers, some like the excitement, some get some fun and write-offs to offset other income, etc. With musicals at least, some are hoping for the next Wicked or Lion King or Phantom or Aladdin or Hamilton or DEH or BOM or Chicago.

With rare exception, we have reached the point where most plays open for limited engagements, with stars in lead roles...that is a template that frequently results in returns on investments, though not always, as we know from this season. That is a change from 50 years ago, where almost everything was open-ended, even if that translated into closing on opening night.

It would be interesting to know if, over X period of time, the huge profits generated from the hits offset the losses from all the failures over time. I assume that must be the case, but have no idea in fact.

Wick3 said: "
Also, casting matters. It's really hard to flop if you have an A-list Hollywood/TV celebrity headlining the show. Yes, they're expensive too but at least the show has a higher likelihood of recouping the investment."

Because Frankie and Johnnie did so well.

DAME said: "Wick3 said: "
Also, casting matters. It's really hard to flop if you have an A-list Hollywood/TV celebrity headlining the show. Yes, they're expensive too but at least the show has a higher likelihood of recouping the investment."

Because Frankie and Johnnie did so well."

@DAME, as much as I love Audra on Broadway I do not consider her (or Shannon) A-list hollywood/TV celebrities.

Updated On: 7/12/19 at 01:40 PM