Broadway Journal

NEW YORK EXTENDS $3 MILLION BROADWAY TAX CREDIT; DISNEY’S ‘ALADDIN’ APPROVED

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New York State extended the New York City Musical and Theatrical Production Tax Credit, a subsidy of up to $3 million per Broadway show, as the industry struggles with rising costs and subpar sales.

On May 3, Gov. Kathy Hochul announced the two-year extension through 2025 and said commercial Off-Broadway shows will also be eligible, albeit for a smaller credit. The Broadway League trade association lobbied for preserving the program. It was designed to jumpstart the industry, which contributes billions to the economy, and encourage productions “to begin performances sooner and come back stronger” as the city recovered from Covid-19.Continue Reading

‘FROZEN,’ ‘MEAN GIRLS’ POST WORST WEEK SINCE OPENING

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Mean Girls

Sales of Frozen and Mean Girls took a hit last week as schools reopened and Broadway contended with oppressive heat and competition from the latter rounds of the U.S. Open tennis championships in Queens.

Disney’s Frozen fell 16 percent to $1.6 million, the lowest since the adaptation of the 2013 animated movie opened in March. Mean Girls, produced by Lorne Michaels and the late Stuart Thompson and based on the Tina Fey movie, dropped 21 percent to $1.2 million, its weakest seven days since opening in April.Continue Reading

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