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American Theatre Wing Chairman Ted Chapin on the increasing attendance for Broadway shows, its impact on the New York economy and what it indicates ab...
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On the rise and Ben Bernanke Federal Reserve chief Bernanke's friends of the New York fed are actually saying that -- attendants.
And revenues surged more than 30% from last year.
And they're now using it as an indicator of a healthier US economy so we thought let's do the business Broadway bring in Ted shape -- -- -- -- the American theatre -- chairman of the board and of course.
Eight the the American theatre wing has the Tony Awards and all that -- our award.
Did it surprise you that the Federal Reserve issued -- release that talked about the US economy and reference Broadway tickets -- seems -- we have outcomes come into some legitimacy.
Five favorite topic -- legit in the right to write and tell them all the budget world a broadly the -- well let's talk a little bit about.
What gives some indication in -- we're looking at attendance that's a yellow bars here on this graphic.
Ticket sales are yellow and of course from that the worst part of the recession and even before that climbing climbing -- Well I.
I think it's fair to say that had been in down times people want entertainment.
They want escapism and I think Broadway has become extremely.
Smart about selling itself.
A 60% of the Broadway audiences are tourists only 40% come locally.
So I think you know part of deal more of New York City as a tourist attraction is what broadly can offer -- have a few hit shows and people come.
Well there was an interest in metric that was finally hit within the past year and that was that five.
Broadway shows were hauling in a million plus a week in the here on the screen we can throw up some of the names.
I think originally follies was in there but now indeed added to.
-- kid in line can which -- been around for a long time but vocal warm it's been pretty massive Spider-Man.
And you know Spider-Man and got more publicity last year than -- has gotten in years not all of -- positive.
But I think it's -- you know it's clear that in the world that we live in you know the more people talk about something the better it is for everybody.
And you know and for them to be doing a solid 1000005 I think every week that -- -- that Spider-Man that that's pretty amazing and -- vitae is on this list for last week and it's in -- it's not a little.
Open officially a one -- it opened last night you attended I told -- news -- seats.
Which is about news boyz and edge in the early ages and wow this one is getting the town -- could it be a million plus a -- -- ticket sales and add to sort of the economy New York.
Well and it would probably.
I think you know part of the million dollar we -- some -- has to do with the premium tickets.
And when that started people didn't understand it and in you know what what a lot of people didn't understand his.
There were scalpers who would buy tickets they were very clever about going to be at the box office and buy tickets -- shows that became hits the back to the -- years is that the fancy hotels in new York and sold for thousand dollars -- and somebody not to shows -- -- data was getting the balance between the box -- price in the idea.
Of that -- premium pricing is is to give more money back to the show.
Well I think we need Ben Bernanke have been meeting this with you in the American theater -- -- -- Not happy haven't Ted shape and is ahead of the American theater wing and also David also having the Rodgers and Hammerstein founding.
