Also in this playlist...
This transcript is automatically generated
I did actually -- and I loved it and 67 Daniel Tony Awards will be this Sunday.
Like -- just about every -- not every Broadway Show but most of the ones I see.
I like and -- when it.
I am I know when they needed now was only want her to that -- but I really -- I love doing -- months.
No I'd love going to shows -- for the most part one love and I want to of the productions that this -- -- dotted all set up at least in promise -- I got a lot of it but we're to talk about the money behind Broadway.
New report that was out showed that only one in five Broadway productions actually earn back their investment so.
And joining us is Tony award winning Broadway producer Kevin -- -- rent she heard the introduction but also.
Produced on avenue Q and Motown but that was like -- what exactly not not -- not nominated however.
It's a huge runaway success house.
-- were nominated for best musical but we've gotten some performance nominations and some design nomination and -- it's been a wild success in working with Berry Gordy.
And Doug Morris to bring it to the Broadway stage has been just.
An amazing hit.
I want and dad though big -- like in terms of the theater and our government ticket prices continue to go off yeah.
At what point did you start.
Completely squeezing out a younger audience and you're not and you don't develop them so they deterrent to -- -- you know the people who really spend the big box on the -- It's -- spent a lot of time talking about and it costs a lot of money to gather people but also that's what's so special about Broadway one of the things it is happening.
Is we're having what we -- dynamic pricing which means that yes ticket prices are also are going up but as a result.
We can also create discounting on some of the -- -- attended times and sometimes it Tuesday night isn't as popular -- Friday.
You can oftentimes find those opportunities.
In the pricing so if if it's a must see.
And you have to go tomorrow you're gonna pay a premium price for a very popular show.
But if you're willing to wait a little bit you can also find some discounting -- a lot of when we opened -- we didn't know what we had.
We had a direct mail and you could buy a ticket for -- -- dollars -- And you try to go and try to balance that -- even go back to the stat that I reference of the -- -- -- to support of the Broadway league that run on five shows.
Is it good business to the enemy know how to get to it before it's it's a great Christmas and actually you know there isn't -- little latitude you can make a living but you can make a killing.
And and what that really means is that he and that.
In that dynamic of one out of five oftentimes some of those are short runs and so you know like a lucky guy starring Tom Hanks is gonna make its money back.
-- -- -- the riskiest our original musicals because you've never heard of the title.
-- was risque avenue Q in the heights drowsy chaperone.
Very risky because you hadn't heard the title Motown you could -- a little less risky because it's a brand.
So is that one out of five is true on Broadway but there's other ways that income comes in -- -- show.
If you invest in -- original musical.
You're part of a subsidiary rights and typically every time -- high school or college does it for instance rent is continuing turning come course even though we're no longer on Broadway.
So a lot of those statistics are about to Broadway run but just like the film he might not make all the money back on the theatrical early lead but -- dvds -- -- -- -- the -- through and get a ticket to Vegas and I get hit that would avenue Q and I -- distribution company said that what you do is you make sure that -- a show we just announcement -- Opening in Chicago and April 14.
It's a year away from now but we are announcing it today in the Chicago Tribune and so would the road it's a huge aspect of making it might really quickly that you wanna keep production costs down to a ticket prices down you've got to work with the unions and we do and and we all we -- not anti union but we're anti inefficiency and I think the unions have been very good lately the last ten years we've really started to work out some economies of scale and those of us who produce -- are grateful to the unions.
And I think the unions are listening look we're having full theaters.
It looked successful but our margins are getting squeezed and so everybody is in this conversation and what it's a business we love.
And there's nothing like that this is he -- and the profit sometimes.
Isn't there but the joy offices and you're good advocate for the for the desire -- I'm lucky enough to do what I like he's a great Avant had these have to show.
And -- -- yeah -- got -- honest.
Thanks John thank you expected behavior that people always going to be like.
Filter by section