Is Broadway Going Broke?
What is wrong with Broadway? A record number of shows are closing, with producers millions in the hole. The answer is: nothing we didn’t already know.
January has long been the month for Broadway to bring out its dead. Having wrung the final drops of revenue from New York City’s holiday tourism boom, productions with limited runs or falling sales wisely close up shop, making room for the onslaught of spring productions in the process. This season, however, has revealed a body count higher than any in recent memory. … As Mecca for commercial theatre, Broadway is all about the numbers. From a strictly commercial point of view, the numbers have never been better. The Great White Way just had its greatest year on record, grossing more than $1 billion, up from $940m the previous season and $588m ten years ago.
