Philip Boroff

‘BRIGHT STAR’ PRODUCER PLANS PRIORITY LOAN AS FIVE TONY AWARD NOMINATIONS OFFER PRICEY IMPRIMATUR

May 6, 2016 by Philip Boroff

Photo by Nick Stokes — Publicity photo by Nick Stokes

Tony Award contenders often say it’s an honor to be nominated. For Bright Star, like any struggling nominee, it’s an expensive honor.

Instead of potentially folding after ten slow weeks, Joey Parnes, the lead producer of the original Steve Martin and Edie Brickell musical, is betting on the marketing muscle of its five nominations. The production will borrow money to run at least through the Tonys on June 12, he said, as well as to advertise the nominations and stage a number on the CBS telecast. The last expense typically runs in the six figures.

“It’s not a secret that we’ve been having less-than-robust grosses,” Parnes said earlier in the week. “To say we’re an underdog is an understatement.”

‘MORMON’ PAYS MILLIONS TO WORKSHOP CAST AS ACTORS DEVELOPING NEW SHOWS FIND ROYALTIES IN SHORT SUPPLY

April 15, 2016 by Philip Boroff

UPDATE to include Hamilton accord: As the cast of Hamilton looks forward to a portion of profits from the blockbuster, The Book of Mormon has paid its workshop actors about $3 million to-date for helping to develop that Broadway smash.

The estimate of royalties is based on financial results for Mormon obtained from the office of New York Attorney General Eric Schneiderman via a Freedom of Information Law request. (Royalties include only the Broadway production, as data from the London production and two national tours weren’t made available.) Chris Boneau, a Mormon spokesman, declined to comment.

FROZEN COMPOSER’S A CAPPELLA MUSICAL ‘IN TRANSIT’ SEEKS EXPRESS TRAIN TO BROADWAY

March 21, 2016 by Philip Boroff

A musical without musicians is an untested concept on Broadway. Janet B. Rosen, the freshman lead producer of In Transit, a long-gestating a cappella romantic comedy circling Broadway, says she’s undaunted.

In Transit employs the subway as a setting and plot line and is arranged by Deke Sharon, the arranger and music director of the a cappella movies Pitch Perfect and Pitch Perfect 2 (worldwide gross $400 million). A national a cappella tour he oversees, Vocalosity, appears to be selling well. And Kristen Anderson-Lopez — who wrote In Transit with Sara Wordsworth, James Allen-Ford and Russ Kaplan — co-wrote Disney’s Frozen ($1.3 billion). “We are ready to take it to Broadway,” Rosen, who holds the rights to In Transit, told Broadway Journal last night at a concert presentation at Feinstein’s/54 Below. She said it would be Broadway’s first a cappella musical. “A cappella is huge right now.”

‘HAMILTON’ RECOUPS, SETS $549 TICKET RECORD, EXCLUDES GROUP SALES AS SECONDARY MARKET EXPLODES

March 18, 2016 by Philip Boroff

Outside 'Hamilton" during a September lottery — The ‘Hamilton’ lottery last Fall. Photo: Broadway Journal

EXCLUSIVE: Hamilton, the Broadway blockbuster endorsed by the president and first lady, has repaid its investors.

Two people with direct knowledge of the musical’s finances confirmed that it recouped its $12.5 million capitalization. Normally, producers announce when a show breaks even, but Hamilton, “the hardest ticket to get on the planet,” as Michelle Obama put it, has little to prove. Since recouping it’s already begun distributing profits, according to one production source. Reached by phone Friday morning, Sam Rudy, a spokesman for the show said: “I’m not aware that we’ve recouped,” adding that he would check with the producers.

‘BEAUTIFUL’ REAL ESTATE AIDS ROUNDABOUT REVIVAL

March 18, 2016 by Philip Boroff

Todd Haimes at the Tony Awards/Photo by Philip Boroff — Todd Haimes at the 2015 Tonys. Photo: Broadway Journal

EXCLUSIVE: On September 15, 2008, hours after Lehman Brothers filed for bankruptcy, the Roundabout Theatre Co. signed a lease to take over a third Broadway house. Given the expense of producing and its thinning ranks of subscribers, some in the business questioned whether the company, founded in 1965, overextended itself.

Seven and a half years later, the Roundabout can make a convincing case that adding the Stephen Sondheim Theatre inside the Bank of America tower constituted shrewd investing in a downturn.

STING’S ‘LAST SHIP’ PREVIEW BUOYS PUBLIC THEATER COFFERS

March 18, 2016 by Philip Boroff

EXCLUSIVE: The Last Ship, a failure on Broadway, was a hit for the Public Theater .

In the fall of 2013, a year before the musical’s brief run at the Neil Simon Theatre, Sting played ten concerts of its songs at the downtown nonprofit, coinciding with the release of his album The Last Ship. According to the Public’s latest tax return, its benefit income after subtracting for direct expenses surged 60 percent to $3.2 million. That suggests a roughly million dollar gain in 2013-14 from the Sting engagement. (As in previous years, the Public also held a gala in Central Park.)

The Public paid $900,000 to Sting’s Steerpike Productions, according to the return. A theater spokeswoman said the star performed for free and the money covered rehearsal, performances, travel and lodging for his 14-piece band, including musical director Rob Mathes.

The concerts helped the Public increase net assets by 14 percent to $41.5 million — a preview of improving fortunes. The theater helped develop the play Eclipsed and the musicals Fun Home and Hamilton, all now on Broadway. Hamilton alone will likely yield many millions for the institution.

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