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-One investor takes issue with Broadway’s financial woes
+High production costs, flat ticket prices
-James L. Walker Jr. invested $50,000 in the recent revival of “Cabaret at the Kit Kat Club” on Broadway. The star-studded performance closed early in what producers called a financial loss after being open for about 14 months and 592 regular performances.
+Data from the Broadway League show the industry had its highest-grossing season in a decade this year, with over 14 million people attending shows.
-[[https://tripscan101.cc/|trip scan]]
+[[https://trips62.cc/|trip scan]]
-“When you look at a play that’s grossing an upwards of nearly $100 million, it’s hard to explain how we didn’t make our money back,” Walker said.
+However, none of the 18 musicals that opened last season, made a profit as of late September, according to the New York Times. Laks said the prevailing wisdom for the industry is that only one in 10 shows will make their money back.
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+[[https://trips62.cc/|trip scan]]
-In August, the Atlanta-based investor filed a lawsuit against the show’s producers, alleging breach of contract and what the suit calls a “deliberate scheme” to strip him and other investors of their money.
+For example, producing “Boop” — the colorful show centered around Betty Boop in modern New York City — cost around $26 million. The musical ran for about four months this year and, according to the Times, failed to recoup its investment.
-[[https://tripscan101.cc/|tripscan]]
+[[https://trips62.cc/|tripscan top]]
-“Obviously, we want our money back, but yes, a major consideration is how do we change the overall infrastructure?” Walker questioned.
+“It’s just so difficult for (producers) to get their money back. These shows are now upwards of $25 million. Ten years ago, you could have a musical on Broadway that was probably in the $13 million range,” said Jim Kierstead, a Broadway producer whose over two dozen credits include “Kinky Boots” and “Waitress.”
-ATG Entertainment, the defendant in the lawsuit, would not comment on active litigation but has denied any wrongdoing and filed a motion this month to dismiss the suit.
+While producers have seen their budgets grow, ticket prices haven’t kept pace, according to Laks. The average ticket price is currently $126, while the average ticket price for the 2015-2016 Broadway season was about $103, or about $140, when adjusted for inflation.
-Off-Broadway shows are trying something new
+But the solution isn’t as simple as raising ticket prices.
-While shows on Broadway struggle to find a solution to their financial woes, one off-Broadway show has taken a unique approach to draw crowds.
-“Masquerade” — a reimagining of Andrew Lloyd Webber’s classic “The Phantom of the Opera” — has audiences donning masks and sipping Champagne upon entering a transformed six-story art shop in midtown Manhattan. Webber also helped produce the $25 million show.
+“There’s only so high you can raise them because you’re really pricing people out of the market,” said Kierstead. “It’s just a bad conundrum across the board.”
-Adding to the experience is a secret password to enter and artwork from some famous names like music legend Bob Dylan.

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