Brian Lipton, Chief Theater Critic for Cititour.com

BROADWAY’S ROLE IN NEW YORK CITY’S ECONOMY

There is a symbiotic relationship between the New York City economy and the health of Broadway. The last full theater season – 2018-2019 – saw ticket sales of $1.8 billion. That is more than the combined amount of the ten major league sporting teams in the New York City area

SHOW BUSINESS

There are two different aspects of making money on Broadway. All shows first need to be capitalized for the upfront costs: rehearsals, scenery, renting a theater for the pre-opening time, paying actors during rehearsal For a large musical, capitalization costs can easily run $15-$25 million. A show needs to earn back those costs to make a profit. Post-opening, the weekly running costs include paying actors and behind-the-stage personnel.

THE NEXT PHANTOM?

Will another show run 35 years? Two possible contenders: The Lion King  and Chicago. Each has a different draw for audiences: The Lion King is family-friendly, and Chicago is written in such a way that it is able to put non-traditional theater performers, such as Pamela Anderson, in a prominent role. Rather than hope for another long-running show, producers will likely continue to rely on producing revivals or adaptations, with few shows based on original material.