|re: Michael Riedel on Broadway re-opening|
|Posted by: Singapore/Fling 08:23 pm EST 01/13/21|
|In reply to: re: Michael Riedel on Broadway re-opening - dreamawakening 04:15 pm EST 01/13/21|
|That's a very simplistic reading of the data and the situation. We know from voluminous reporting that many Americans have seen their income and their savings actually go up this year, while other Americans have seen their incomes decimated. There are many reasons for this, but needless to say, the Americans who are not able to buy food and the Americans who spent wildly are likely not the same Americans.
In terms of theater, it's also worth noting that a major reason people had more money to spend over Christmas is because they haven't been spending money on such things as eating out and going to live or in-person entertainment.
As for pricing - the only shows that can succeed on modern Broadway are the ones that charge premium prices. Selling well on the normal prices and discounted tickets seems to only allow shows to break even at best. We've seen countless examples over the past few years of shows that ran for a year selling in the realm of $600K a week and losing their entire investment. The most likely conclusion is that only the Monster Hits will return... just look at the closing of "Mean Girls" as an indication of the future for mid-tier shows.
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