how will the stock market CRASH effect ticket prices?

[billynj]

Posted: 10/9/08 at 5:02pm

how will the stock market CRASH effect ticket prices?

worldwide market crash the bubble in Broadway ticket prices should come crashing to an end ... the GREED on broadway ...will soon be over... $80 Orchestra seating will return shortly ...as the normal price not some ...special deal

[Phyllis Rogers Stone]

Posted: 10/9/08 at 5:07pm

Riiiiiiiight.

[CMU_bway_lover]

Posted: 10/9/08 at 5:12pm

Ditto, if anything, they may get worse since few shows consistently make bank and cover operating costs, so with less shows selling out (i.e. fewer patrons attending) the costs will be spread over fewer heads. More likely there will simply be more shows closing.

Also, with the NYTimes article and people hoping for cheap seats the lottos/rush/SRO will be more popular and harder to win.

[Drunk Chita Rivera]

Posted: 10/9/08 at 5:17pm

"Also, with the NYTimes article and people hoping for cheap seats the lottos/rush/SRO will be more popular and harder to win."

I did a current event report on that article and the economy and theater. I said that soon with shows closing and everything they will just be trying to get people to buy ticekts so they will lower the prices or give more discounts.

[CMU_bway_lover]

Posted: 10/9/08 at 5:41pm

Up to a point; they will try to get shows to sellout as much as possible for already promised shows (i.e. contracts for equipment/space/actors), but in the longer run they can't continue to discount since they won't make back operating costs. Plus the end case is with travel costs going up, fewer tourists--the economic mainstay--will be coming. Though this may affect the number of tours starting... Interesting optimization question on how long to keep a show open to maximize profit/ minimize losses.

I wonder what the theater ticket sales trends were during the recession in the 1970's. 1929 would be too early since vaudeville was more accessible and a different kind of industry than 'Modern Broadway' as we know it now.

[Mr Roxy]

Posted: 10/9/08 at 5:59pm

We than hear of Spiderman costing over $ 40 Million

This musical is perfect for what is happening now - overblown & too expensive. If the economy worsens, it's cancellation would not surprise me.

[madlibrarian]

Posted: 10/9/08 at 6:03pm

Actually Broadway saw an unexpected uptick in business during the mid-'70s recession. Some good shows (Equus, Chorus Line, etc.) helped, but New Yorkers who were taking fewer vacations opted to spend leisure-time money at box offices instead. That may or may not happen again, but it's worth noting that some professions are relatively recession-proof; people may buy fewer luxury goods but they gotta eat, and wear clothes, and... be entertained.

[Mr Roxy]

Posted: 10/9/08 at 6:07pm

You can be entertained going to the movies or watching TV. You do not need to spend a ton of money on a show.

[madlibrarian]

Posted: 10/9/08 at 6:11pm

Gosh, how does the theater ever keep going at all??