Broadway Journal

BEN PLATT TO LEAD $6.5 MILLION ‘PARADE’ (EXCLUSIVE)

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Parade, the 1998 Broadway musical featuring a Tony Award-winning score by the-then 28-year-old Jason Robert Brown, will be revived this spring by Greg Nobile’s Seaview Productions and Ambassador Theatre Group, according to a pitch deck distributed to investors.

Ben Platt (Dear Evan Hansen) will star in the dark historical drama, following an acclaimed weeklong tryout at New York City Center in November. Platt will reprise the role of Leo Frank, a Jewish Brooklynite transplanted to Marietta, Georgia, where he was falsely accused of murder and lynched by a mob in 1915. Micaela Diamond (The Cher Show), who earned stellar reviews playing Leo’s loyal wife, Lucille Frank, also returns to the cast. Platt, who like Diamond is Jewish, has spoken eloquently about the story’s timeliness amid rising antisemitism. Continue Reading

SEC PROBES BIG BROADWAY FUND’S ‘OUTSIZED’ RETURNS (EXCLUSIVE)

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By their own account, the founders of the Broadway Strategic Return Fund turned an overlooked investment niche into a bonanza.

Hunter Arnold, John Joseph and Curt Cronin established their hedge fund in January 2016 to invest in U.S. and U.K. live theater productions, plus tours, cast recordings and other ancillary businesses. With “few professional investors participating through a highly organized and disciplined investment process,” the fund’s Sept. 30, 2021 Due Diligence Questionnaire said, the founders believe “there is an untapped opportunity for outsized profits.”

The year-old marketing document declared, “$100,000 invested at [the] fund opening is currently valued at $416,280.” That’s double the rate of return of the Standard & Poor’s 500 Index over the same period — a remarkable result for an industry in which roughly 80 percent of commercial theater productions fail to fully repay their investors, let alone turn a profit.Continue Reading

WILL A NEW ‘SWEENEY TODD’ MAKE ITS INVESTORS A KILLING? (EXCLUSIVE)

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Hamilton producer Jeffrey Seller is raising as much as $14.5 million to revive Sweeney Todd on Broadway this spring, a test of whether a big-budget Stephen Sondheim revival can succeed in the post-Sondheim era.

Josh Groban (The Great Comet) will play the vengeful barber and Annaleigh Ashford (Sunday in the Park with George) will play the creative pie maker Mrs. Lovett, according to an operating agreement distributed to investors and reviewed by Broadway Journal. The musical, with a book by Hugh Wheeler, will be staged by Hamilton director Thomas Kail with a full orchestra playing the score, a person familiar with the revival said. (Two prior Broadway revivals, while critically acclaimed, were comparatively small-scale productions.)Continue Reading

OSKAR EUSTIS IS NONPROFIT THEATER’S PANDEMIC PAY CHAMP (EXCLUSIVE)

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In 2020, a year in which theaters were dark for nine and a half months, Public Theater Artistic Director Oskar Eustis earned $1.15 million in pay and benefits, more than any other nonprofit theater leader in New York.

Eustis’ 10 percent jump in overall compensation — disclosed in the Public’s 2020-21 tax return filed with the New York Attorney General — runs counter to the company’s messaging about pandemic pay. In an April 2020 New York Times story about the cancellation of Shakespeare in the Park and planned staff furloughs, Michael Paulson reported that much of the remaining staff “will take up to a 25 percent pay cut. Eustis will take a 40 percent pay cut.”

The tax return, which details compensation for calendar year 2020, tells a different story. Eustis, one of the highest-profile figures in nonprofit theater since assuming leadership of the storied organization in 2005, was paid $901,000, up from $807,000 in 2019. Benefits and deferred pay were valued at an additional $255,000.Continue Reading

RUDIN ON THE SPOT: SPOTCO LAWSUIT TURNS TO DEPOSITIONS

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EXCLUSIVE: With the Broadway production of To Kill a Mockingbird  adjourned indefinitely, a real-life court battle between its producer in exile and original advertising agency is heating up.

Scott Rudin, who’s kept a low profile following reports about his volcanic temper and bullying of employees, must answer questions under oath by Aug. 31 about his financial relationship with the theater ad agency SpotCo, according to filings in New York Supreme Court. The video deposition would be made public only if it’s introduced as evidence in SpotCo’s lawsuit against Rudin and entities he controlled.Continue Reading

LEA MICHELE WILL REPLACE ‘FUNNY GIRL’ STAR BEANIE FELDSTEIN AS FANNY BRICE

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People who need to see Lea Michele play Fanny Brice on Broadway are the luckiest people.

Lead producers Sonia Friedman, Scott Landis and David Babani announced today the Glee star is replacing Beanie Feldstein in Funny Girl  beginning Sept. 6 at the August Wilson Theatre. Standby Julie Benko will play the lead Aug. 2 to Sept. 4 and for all Thursday evening performances starting on Sept. 8.Continue Reading

TONY AWARDS BOOST ‘STRANGE LOOP,’ ‘MJ’ SALES

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Nearly 20 years in the making, A Strange Loop is having a moment.

In the seven days ending on Sunday, Michael R. Jackson’s newly minted Tony Award-winning best musical had its highest-grossing week since it opened in late April, at $845,000. That was up 23 percent from two weeks earlier, according to Broadway League data. (The week before the Tonys is a difficult comparison because Strange Loop, which also won for book of a musical, had seven performances instead of the customary eight.)Continue Reading

WILL ANGELS IN AMERICA MAKE ‘BACK TO THE FUTURE’ A BLAST ON BROADWAY? (EXCLUSIVE)

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More than three decades after the chandelier first plunged at Phantom of the Opera and a helicopter flew out of Miss Saigon, a souped-up DeLorean will star in a planned Broadway transfer of the Olivier Award-winning musical Back to the Future.

Producer Colin Ingram is in talks to bring a big-budget adaptation of the 1985 Michael J. Fox blockbuster to a Shubert house next summer, people familiar with the London hit said. Last week, Ingram filed paperwork with the Securities and Exchange Commission to raise $23.5 million for the Broadway production.  Co-producers of the show on the West End, which has been running for nine months and recently extended to February 2023, include the Frankel-Baruch-Viertel-Routh group, Hunter Arnold and Gavin Kalin — all familiar names around the Main Stem.Continue Reading

BROADWAY CINDERELLA STORY: ‘A STRANGE LOOP’ FOLLOWS ITS PULITZER WITH BEST MUSICAL

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Maybe Usher can finally quit his day job.

A Strange Loop — Michael R. Jackson’s deconstructionist portrait of a musical theater artist as a young, Black, insecure gay man — was named best musical at the 75th Tony Awards tonight. A former Lion King usher, Jackson spent nearly two decades working on his sacred-cow-slaughtering show about a “Disney ushering, broke-ass middle-class politically homeless normie leftist Black American” aspiring composer-lyricist.Continue Reading

‘MOULIN ROUGE!’ & ‘STRANGE LOOP’ TEST TONY TRADITION OF GOOSING GROSSES

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Eight months after winning the Tony Award for best musical, Hamilton’s weekly grosses were up 45 percent. Dear Evan Hansen‘s were higher by a comparable margin after its win.

Grosses for Moulin Rouge! at the Al Hirschfeld Theatre were down 25 percent last week compared with early fall, when the adaptation of Baz Luhrmann’s 2001 movie reopened as Broadway’s newly minted best musical. At $1.2 million, its box office is off by nearly half since the end of 2019, when Moulin Rouge! was the top grossing new production of 2019-20, with an average ticket price second only to Hamilton.Continue Reading

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