The recently concluded 2023-2024 Broadway season saw a total gross of $1.54 billion, a slight decrease of about 2% from the previous season. Total attendance for the season stood at 12.3 million, which is a marginal increase from last year. Despite these numbers, it is important to note that Broadway’s attendance is still nearly 17% below pre-pandemic levels. This indicates that the industry has not fully recovered from the 18-month Covid shutdown.
The average ticket price for the just-ended season was $125.27, showing a 2% decrease from the previous season. However, it is worth mentioning that around 90% of all available seats were filled during the 2023-2024 season, compared to 88% in the previous season. This increase in seat occupancy could be seen as a positive sign for Broadway’s recovery.
The 2023-2024 season included a total of 71 productions, with 39 being new. Among these, 21 were musicals, 16 were plays, and 2 were special engagements. The Interim President of The Broadway League, Jason Laks, mentioned that audiences are responding well to the diverse range of plays, musicals, and specials offered on Broadway. He highlighted Broadway’s role as a dynamic space for exploring different narratives and worlds, catering to a wide range of audience preferences.
During the final week of the season, the 35 shows currently running on Broadway grossed a weekly total of $36,381,958, marking a 2% increase from the previous week. Additionally, attendance for that week stood at 292,642, with 91% of available seats filled. This represented a significant 6% year-over-year jump in attendance. Several productions, including popular shows like Hamilton, The Lion King, and Wicked, grossed over $1 million for the week, indicating a strong audience interest in these performances.
While the 2023-2024 Broadway season showcased a diverse range of productions and saw a steady performance in terms of box office numbers, it is evident that the industry is still on the path to full recovery post-pandemic. The slight decrease in average ticket prices combined with the increased seat occupancy reflect a delicate balancing act that Broadway producers and stakeholders must navigate. As we look ahead to the next season, it will be crucial for Broadway to continue its efforts in attracting audiences back to the theaters and ensuring a safe and engaging theater experience for all.