Broadway, the vibrant heart of the theater industry, embarked on its highly anticipated holiday season with mixed results. In the week ending November 12, a total of 28 shows managed to generate a respectable sum of $29,163,440. While this represents a 10% increase from the previous week, it falls short of last year’s figures by a similar margin. Comparing this period to the pre-pandemic era paints an even bleaker picture. In 2018 and 2019, Broadway achieved revenue of $36,501,888 and $35,399,366, respectively. However, the corresponding week in 2021 only saw a modest $25,565,641. It is clear that the industry still has a way to go before returning to its former glory.
Amidst the decline in overall revenue, there is a silver lining. The majority of shows currently running are enjoying commendable success. Out of the 28 shows, only six failed to fill more than 90% of their capacity. “A Beautiful Noise,” “Chicago,” “Melissa Etheridge: My Window,” “Purlie Victorious,” “Some Like It Hot,” and “The Shark is Broken” struggled to draw significant audiences. However, twelve productions managed to surpass the million-dollar mark in terms of revenue. These include ” & Juliet,” “Aladdin,” “Back to the Future,” “Gutenberg! The Musical,” “Hamilton,” “Harry Potter and the Cursed Child,” “Merrily We Roll Along,” “MJ,” “Moulin Rouge!,” “Sweeney Todd,” “The Lion King,” and “Wicked.” “Six” nearly joined this prestigious club with a revenue of $999,517. Notably, “Merrily We Roll Along” set a new record at the Hudson Theatre with a revenue of $1,865,831. Impressively, the show also boasted the highest average ticket price of $241.44, surpassing the overall average of $123.69 for all 28 shows.
Previews and their Impact
Last week, two shows were in previews: “Harmony” and “Spamalot.” “Harmony,” which opened recently, managed to attain an impressive 92% seat occupancy at the Barrymore Theatre, resulting in a revenue of $643,894. Meanwhile, “Spamalot,” which was at the St. James Theatre for seven previews, achieved a 91% occupancy, generating $753,230. However, it is essential to note that the revenue for both shows was potentially influenced by heavily comped press performances. These figures may change once the shows officially open. “Spamalot” is set to open its doors to the public on November 16.
Since the start of the season, Broadway has accumulated a total revenue of $708,085,316, with a cumulative attendance of 5,808,985 individuals. While these numbers may seem impressive, they pale in comparison to the pre-pandemic era. The challenges faced by the industry, including ongoing health concerns and ever-changing regulations, continue to hinder its recovery.
Broadway’s journey towards post-pandemic success remains fraught with obstacles. While revenue has increased compared to previous weeks, it still falls short of last year’s figures. However, some shows are thriving, reaching impressive revenue milestones. The impact of previews and heavily comped press performances also influences these figures. As Broadway strives for a full recovery, it is evident that the industry still has a long way to go. Will the holidays inject a much-needed boost, or will the road to recovery be longer than anticipated? Only time will tell.