Broadway Journal

‘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.”

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‘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.

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‘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.

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