EXCLUSIVE: The Public Theater could earn upwards of $10 million a year for helping to develop Hamilton: An American Musical. But don’t expect it to do anything flashy with the cash.
The plan for now is to plow money back into the institution — rather than bankrolling new shows on Broadway or making Public Theater tickets free year-round a la Shakespeare in the Park.
First up, according to two people familiar with the situation: an ambitious renovation to consolidate rehearsal space across the street, at 440 Lafayette, which will primarily replace facilities it rents around the city. And it’s setting aside reserves for capital expenses, operations and programming.