HOW ‘HAMILTON’ MAKES MONEY BY MAKING NEWS

April 27, 2018 by Philip Boroff

LAST OF A SERIES: When the cast of Hamilton visited the White House on March 14, 2016, President Obama joked that the musical was the only thing that he and Dick Cheney agreed on.

The excursion was a PR coup at a bargain price. It cost just $85,000, according to a financial statement filed with New York State by Hamilton Uptown LLC, which presents the juggernaut on Broadway. That’s a fraction of what a production spends to stage a single number on the Tony Awards. Hamilton Uptown bused the cast to Washington and put them up overnight, but they weren’t paid extra to perform on their day off, according to three people familiar with the trip.

Actors were told their attendance was optional. A White House gig is traditionally an honor, and this one yielded wall-to-wall news coverage and YouTube videos that have been viewed more than 23 million times. A production spokesman declined to comment.Continue Reading

‘HAMILTON’ PAYS MIRANDA & SELLER TENS OF MILLIONS A YEAR

April 26, 2018 by Philip Boroff

SECOND IN A SERIES: Lin-Manuel Miranda’s hip-hop juggernaut is the first single-author show to win a Tony Award for best new musical since Jonathan Larson’s Rent, in 1996. With no writing partner to share the mammoth royalties and profits, the 38-year-old composer-lyricist-librettist and actor stands to earn hundreds of millions of dollars should Hamilton have a long life.

Miranda amassed $12.7 million in author royalties and profit participation from the Broadway production in the 12 months ending in July 2017, according to a production financial statement filed with the office of New York Attorney General Eric Schneiderman. That’s more than the $11.6 million median annual compensation for a large-company chief executive, based on a recent Wall Street Journal analysis.

‘HAMILTON’ PROFITS SHOT PAST $160 MILLION LAST YEAR

April 25, 2018 by Philip Boroff

PART ONE OF A SERIES: Nearly three years after storming Broadway, Hamilton remains unrivaled in its moneymaking.

The original production, which began previews at the Richard Rodgers Theatre in July 2015, distributed more than $102 million of profit through November 2017, according to documents filed with New York State. A Chicago engagement and tour that started in San Francisco paid out another $62 million through July 2017.

“Even after adjusting for inflation, it’s hard to imagine a show churning out profits the way this one is,” said Jeffrey Eric Jenkins, a producer and theater professor at the University of Illinois at Urbana-Champaign.

We estimate that profits to-date for the Hamilton empire, which now has outposts in London and a second tour in Salt Lake City, exceed $250 million. Lead producer Jeffrey Seller declined to comment for this series through a spokesman, Sam Rudy.Continue Reading

KID-FRIENDLY SHOWS REACH A THIRD OF BROADWAY SALES

March 19, 2018 by Philip Boroff

Jamie Parker as Harry Potter/ Photo by Manuel Harlan

EXCLUSIVE: This season, every night is kids’ night on Broadway.

While theatergoers still pay up for Lin-Manuel Miranda’s historical hip-hop, Broadway’s fastest-growing onstage demographic are princesses, princes, witches and wizards. With the Harry Potter plays and Mean Girls early in previews and Frozen opening on Thursday, family-friendly sales are likely to stay elevated.

Broadway Journal hasn’t crunched the numbers for every season, so we can’t say that family show sales are at record levels — but industry veterans we spoke to said it seems that way.

BROADWAY HAS RECORD 2017; AVERAGE TICKET SOARS TO $118

December 28, 2017 by Philip Boroff

Amanda Jane Cooper in Wicked/Joan Marcus

EXCLUSIVE: The year isn’t over, but it’s already demolishing records.

As of Dec. 24, Broadway grosses for 2017 totaled $1.59 billion, vs. $1.37 billion for all of 2016, which had been the bestselling calendar year. With a holiday bonanza likely this week, 2017 sales are on track to be up about 20 percent, according to data from the Broadway League, which represents producers and theater owners.

Broadway is hitting new heights as it weathers a 4 percent drop in international tourism in the U.S. in the first half of the year. (Numbers for 2017’s second half aren’t available.) Some say President Trump’s anti-immigration, “America First” rhetoric and agenda is a factor in the decline of international travelers. Yet thanks to a continued influx of Americans, overall tourism is up in New York City. “The domestic audience may be more attuned to Broadway than international visitors,” said George Wachtel, president of Audience Research & Analysis, which conducts market research about cultural tourism.

HISTORIC ‘HAMILTON’ RAISES TOP TICKET TO RECORD $1,150

December 24, 2017 by Philip Boroff

EXCLUSIVE: Don’t be shocked if Hamilton reports extra-huge holiday numbers. Tickets this week are going for a record $1,150.

With the increase, Hamilton is the first on Broadway to sell seats for four figures, before fees, that don’t benefit a charity or political campaign.

As of Sunday afternoon, a few $1,150 tickets were still available through December 30. (The show is dark on New Year’s Eve and Jan. 1.) They are the only ones remaining this year for Lin-Manuel Miranda’s Broadway musical about the founding fathers, besides those via resellers and a $10 lottery. The price is up 15 percent from last Christmas, when top tickets fetched a then-record $998. (Hello, Dolly! later matched $998 for the first row for some performances.) Shows typically raise prices for the holidays, when tourists pack the city.

PUBLIC’S ‘HAMILTON’ RICHES COULD TOP $10 MILLION A YEAR

November 3, 2017 by Philip Boroff

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.

BROADWAY RECOILS AT TRUMP UPSET

November 9, 2016 by Philip Boroff

Broadway performers and writers, who lampooned Donald Trump and his wife during the presidential campaign and raised millions for Hillary Clinton, expressed despair and defiance as the developer and reality TV performer pulled off what Politico called the biggest upset in United States history. Continue Reading

‘HAMILTON’ SETS ANOTHER RECORD WITH $998 TICKETS

October 6, 2016 by Philip Boroff

EXCLUSIVE: The producers of Hamilton are selling a new block of $998 tickets for the Thanksgiving and Christmas holidays that handily sets a Broadway price record.

The $998 seats are up 18 percent over the $849 tickets Hamilton introduced in early June — the previous record holder. When including Ticketmaster’s $18 service fee, the new ticket, at $1,016, is the first on Broadway to run four figures.