| re: I think we all agree.... well | |
| Posted by: NewtonUK 06:43 am EDT 07/02/24 | |
| In reply to: re: I think we all agree.... - KingSpeed 04:36 pm EDT 07/01/24 | |
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| The economics are a bit more difficult than you suppose. And then are few secrets on Broadway. A play with ' terrific but not bankable actors, after Stereophonic, now has the bar set at $5,000 a week because of Stereophonic. If they had paid $10,000, that would be the new bar. And it would be a high one. An actor getting paid $10,000 a week also has pension, health, 401K, vacation pay, payroll taxes, and workers comp added to their weekly cost. And - yes - Stereophonic is a hit, but .... it has played 12 weeks (grosses for week 13 will be out today). It has grossed an average of $656,333 a week. That means that the net coming back to the producers is around $590,000. Stereoponic is reported to have cost $4 million to transfer to Broadway. Its weekly operating costs reportedly hover around $525,000. Which means that the current trajectory, going forward, is that if costs are flat at what is budgeted (which is not likely these days), they may have earned back around $500,000 or so to date. It would take about 9 more months, at adjusted grosses of around $650,000, for Stereophonic to recoup. There is not a strong history on Broadway of a play running 11 or 12 months, other than perhaps TO KILL A MOCKINGBIRD. If the 7 actors were earning another $35,000 per week, which would cost the producers around $50,000, they basically would not have earned back a penny to date. Thats why $5,000 is fair and equitable. IMHO. |
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