Not terribly long ago, I proposed a "New Deal for Broadway," which includes among its planks the following:
(*) A 5-show week. 8 shows a week was arcane long ago, but now it's utterly impractical. Besides which, the grind wears out many performers before their time. So... cut it down to 5, like the work week that every other important industry is usually built on (in theory). My proposed schedule is as follows: Wednesday matinee (1), Thursday (1) / Friday (1) / Saturday (1) evening, and Sunday matinee (1). It's nicely laid out: 2 days off, 5 on, no 2-a-days -- better work / life balance.
(*) Lower ticket prices for in-person seating. (Getting to the in-person distinction in a moment,) The average in-person cost of a theater ticket today is $150-$200, if you're lucky. I don’t have to tell you the standard prices are outrageous. I hear it every day, even from industry folks. [One colleague confided, "It used to cost less to sit in the cheap seats of a Broadway matinee than to see the first run of a movie. Broadway is now for out-of-towners. I'm solidly upper middle class, and if I weren't comped because I'm a known director, I couldn’t afford it. Going to the theater -- with three kids? 1,500 bucks with parking, food, etc.? No. Prices some time ago have made [it] something expensive you do, like going to see a live football game in the good seats."] Stuff like lottery, S.R.O., etc., is supposed to make it easier on the average schmo, but it doesn't do nearly enough and, in the case of lottery, usually leaves too much to chance. So, I'm gonna take the low end of that average spectrum and make it the high end: $75-$150 for in-person tickets is still pricey for some folks, but generally more reasonable for typical buyers.
(*) Simultaneous pay-per-view live streaming of every performance at a more affordable price point. I got this idea when colleagues of mine, major music stars in the rap world, began to experiment with something very interesting during the initial wave of the pandemic. They've marketed and presented live streaming events with low ticket prices -- think $10 or less -- to considerable financial success. Now, they don't have a lot of options to build further upon that model (a concert's a concert, no matter who guests), but theater... that's another story entirely. As I just said in the previous bullet point, Broadway has basically become a luxury item, like people who pay to see the Super Bowl, or watch the ball drop in Times Square on New Year's Eve, in person. The difference between Broadway and such events is those of us without deep pockets can watch the latter from home. So, we need a hybrid model: those who can afford the luxury item can continue to buy a ticket to see it in person, but we open up accessibility, affordability, etc., in the form of a simultaneous live stream, tickets for which are far more affordable for the average person.
In order to see if it'd work, I ran the numbers, with some assumptions baked in (for example, the 5-show schedule and in-person ticket prices outlined above). For the virtual ticket, while affordability and accessibility are key, it also has to be worthwhile for the bottom line. I came up with this scale: $20 for Wednesday matinees and Thursday evenings, $30 for Friday and Saturday evenings, $25 for Sunday matinees, and $10 student / senior discount for all of them with valid ID. Fairly within reach for many who'd buy.
Just for gits and shiggles, I ran an income projection on only the video hits -- no in-person ticket sales -- to get first estimates, and I was quite surprised. On clicks alone, in best case scenario, the show (an original straight play) doubled its backers' investment in less than four months.
(How sustainable is this? About as sustainable as the present model. When one assumes, for example, that streaming tickets are in the price range I quoted, and takes into account that purchases for online events commonly have a median range of 20,000 - 100,000 purchases, about 5,000 people at $20 a ticket is about the same amount we'd have to make off live gate, minimum, to break even with an in-person audience. All we're doing here is removing the false value of a $350 list [with constant discounting so our product presents as affordable] and allowing access to that part of the market that still can't afford $175.)
(*) "Instant recordings" as take-home souvenir for those who continue to see it in person. You might be saying at this point, "Well, if everyone hears about the virtual prices, they'll just stay home and pay those!" As you've seen, the math already makes that all okay, as streaming income would now be a show's primary income, but don't worry, I thought of a way to keep people with deeper pockets coming in-person: 1) to the best of our ability, we restrict the capability to record the streams, and 2) create "instant recordings" (in the vein of, say, Concert Live) as a souvenir you have to attend in person to obtain. Directly following every performance, the in-person ticket buyer receives a pro-quality audio recording of the show they just saw, accounted for in the price of one’s ticket and theirs to own, either in physical format, for the “old fogies,” or for download / streaming within 24 hours via a special token, QR code to be scanned with a mobile device, etc. Ushers would be waiting with the physical product, QR codes, whatever, on the way out the door.
Structuring the recording mechanism into the weekly running nut would be next to nothing. Patch a multi-track into the soundboard, and rather than the muddy noise from a raw dump, they get clean channel feeds, enabling "real deal" recordings better than simply what's useful for archival purposes. Devote a soundboard operator to getting the mix, and, barring equipment rental or purchase, there's no added cost.
Speaking of which, with regard to actors... cover art would not include faces, so no royalties for likeness rights, and real-time regular tabulation (for accuracy, according to industry standards or better) of sales, download, or streaming numbers would factor into their salaries.
(This would make relying on a label's interest in releasing a cast recording a thing of the past. It also plants the seeds for the long-awaited nullification of the bootleg market. Only thrill-seekers would go to the trouble of making an illicit recording of potentially questionable quality when one can just snag the product on the way out or access a personal digital copy later, and the wide availability of other performances would eventually make the uniqueness of an item shared illegally on the Internet virtually nil.)
Formerly gvendo2005
Broadway Legend
joined: 5/1/05
Blocked: After Eight, suestorm, david_fick, emlodik, lovebwy, Dave28282, joevitus, BorisTomashevsky, Seb28
Updated On: 1/11/22 at 08:19 PM