EXCLUSIVE: On Broadway, selling out isn’t a prerequisite for cleaning up.
The Band’s Visit, which is considered a lock for best new musical at the Tony Awards tomorrow, has repaid well over half of its $8.75 million capitalization, according to two people familiar with the production. They report that it’s on track to make its investors whole by Labor Day.
Matt Polk, a production spokesman, declined to comment.
The New York Drama Critics’ Circle voted not to give a prize for best musical this season, implicitly endorsing The Band’s Visit‘s Tony Award ambitions and rejecting Broadway’s other new musicals.
“It does bode well for The Band’s Visit,” Critics’ Circle President Adam Feldman said in an interview.
The $8 million-plus to bring The Band’s Visit to Broadway looks like money well spent, based on its first full week of previews.
The David Yazbek and Itamar Moses musical set in a sleepy Israeli town grossed $769,000 — 84 percent of its potential. Attendance was 100 percent of capacity. The average ticket, at $105, was just 12 percent below the average of Dear Evan Hansen in its first week a year earlier, according to Broadway League data.
