<p>I don't want to inject politics into this forum but I've been thinking of this increasingly in the past couple of weeks. With what is happening in the financial sector, it was only a matter of time before it impacted other areas of the economy. It is worrisome, in general, but also for our theatre kids who are involved/hope to be involved in a career that is dependent on huge investments of capital and on the purchase of pricey tickets.</p>
<p>Although this is always a bad time of year for attendance, recent grosses have been very bad and the closing notices continue to pile up, in frightening numbers - Legally Blonde, [title of show], Forbidden Broadway, Xanadu, Sa Ka La, Flamingo Court, Refugee of Lies, The Quarrel, (even the limited runs are not even considering extensions these days), and rumor has it that Grease will be the next to post. It's not only affecting running shows but also readings and workshops. I've heard of postponements and cancellations on both those fronts. </p>
<p>So, go see a show if you have the opportunity, and, even more importantly, give this election the consideration it warrants. Remind your kids, if they haven't already done so, to make arrangements so that they can vote in this very important election.</p>
<p>I think you are addressing a relationship that exists but I disagree with you on the trend. The musical evolved out of WWI and continued to develop during the Great Depression. It reached it's Golden Age during 1943-1968 - WWII, Korean War and Vietnam. It has always had an intregal place in times of hardship in soothing people's souls. With the increased popularity starting with Moulin Rouge and then Chicago, Hairspray and on to Legally Blonde I think someday historians will equate these as warning signs of our economy. </p>
<p>It's true that many productions may currently be closing due to budgets on Broadway. But I do not believe if times were to get worse that this would mean the end of musicals. I think it would just reengineer itself as it did in times past plus there would be more musicals created in Hollywood.</p>
<p>Hoosiermom, what trend do you mean? I don't think I said that the financial situation is a prelude to the "end of musicals". However, I think that, if it continues, it will most certainly affect the theatre community in very negative ways. It already is. Musicals these days routinely require investments of $10 million or more as the initial investment. Many of these dollars are raised by tapping the very wealthy in NYC. When there is an economic downturn, investor money becomes increasingly difficult to find. The current situation is already unlike anything we've seen in a very long time. Money that has been promised for readings and workshops is already drying up. I've heard just this week of three big projects which were planned for this winter being cancelled. </p>
<p>Broadway grosses are the other half of this very worrisome equation. As I said, this is always a difficult time of year, but even at that, attendance figures are not good. Advanced sales, which are essential in the theatre business, are also suffering. A decline in the number of productions, even a small one, will result in the very difficult task of booking work become even more difficult.</p>
<p>I don't think that Broadway, off-Broadway, and off/off-Broadway shows will ever disappear entirely nor will regional theatre but the situation today is not a good one. Discretionary spending is declining which has been evident in ticket sales in every large city this summer. In the big scheme of things, theatre is certainly not at the top of the list of peoples' concerns, but for those who are trying to earn a living as actors, it's a worry.</p>
<p>Actually, HoosierMom, I must respectfully disagree with you. The reason the musical evolved (or I should say, continued evolving) out of WWI is because the public had a great desire for American product - and no one wanted the German operettas. The Great Depression was a horrible thing for Broadway, and the reason the art form became all but stagnant (though of course, there was some good stuff happening in musical theatre - but not what it should have been). After Show Boat, musical theatre should have continued evolving. But the Great Depression basically halted the efforts of Show Boat until 1943, with Oklahoma.</p>
<p>I think if this economy continues, theatre's going to be a pretty scary place to be working in. But you know, so will everything else. I doubt this will deter those of us who are insistent upon trying this career. :) </p>
<p>I do agree that our current economic climate is making it a very risky venture to not only open new shows but to keep them running. Broadway is not like Hollywood where they can make back their budget and see a profit in as little as two weeks in some cases. Broadway and theatre in general almost always run at a negative. I mean nearly every show that closes on Broadway is considered a flop because way more than half never recoup their initial investment despite years and years of being open. The only way they make it back is through tours, regional, community theatre productions. But now more and more shows are costing more and more money and its getting harder and harder for investors to get the money for them. This is why movie studios like Universal, Dreamworks, Disney, Warner Bros., etc. are getting in the game because they have much more disposable income than your run of the mill producer. </p>
<p>Not to mention that there are so few theaters on Broadway that shows got to go where there is room. A prime example is the situation with [Title of Show] which is in a theater that is simply too big for it. I mean the weekly nut is probably the smallest on Broadway but a theater that size costs a lot and if you don't fill the seats you can't meet production costs. And since most of their multiple viewings were paying through lottery, TKTS or TDF, then even if they would play to full capacity it still wouldn't make a difference because average ticket prices are too low for the cost of rent.</p>
<p>Also compared to back during the Depression and the other Wars ticket prices were much lower than they are today. And that's even after adjusting for inflation. The average American can barely afford taking a family to the movies occasionally let alone taking a trip to NYC and seeing a show. </p>
<p>Ticket prices are going up most shows have gone up $10 from last year and now if you want to sit on the aisle at most shows, your gonna be paying an extra $10-$20 on top of that. This is soon going to effect rush, lotto and other discount ticket prices until even they get too expensive to afford.</p>
<p>I do think that if times continue on as they are that it won't be the end of musicals but basically the only things playing are going to be either long running hits (Phantom, Wicked) or movie musical adaptations. And I may be in the minority here but that would be a pretty pathetic Broadway, I mean it already looks like Disney world and its only going to get worse. Thank goodness for Off-Broadway.</p>
<p>alwaysamom, I 've found myself speculating over the same thing. What will happen to the funding of new works? Will people spend their precious discretionary money to attend productions.</p>
<p>jasmom, I think the funding of new works will very likely be the first thing to be adversely impacted, as the cancelled projects I cited above were. Sure things are going to be more and more attractive, which means more and more Disney-type backers, as mentioned by actresstobe.</p>
<p>This is why I'm taking Chinese (Mandarin) and brushing up my Spanish, Portuguese, Italian, and French while in college!
IF, in times of crisis, the theatre in this country really isn't surviving or providing. I will go to a different country and explore the thriving theatre scenes over-seas. Not only will this be rewarding financially, but also artistically!
Speaking of international things, tourists are making up a large portion of ticket sales. More and more people from around the world are coming to see Broadway shows, because they can now afford it. So maybe they can help save our Great White Way!</p>
<p>Tickets to Broadway shows are (for most of us) so expensive that going to one is a real treat and a "sometimes" thing: not something we do casually or nearly as often as we would like. With the current financial/economic situation, many of us are worrying and tightening our already tight belts, and things like theater tickets are among the first things we forgo.</p>
<p>I think that the economy may impact many of the entry level professional opportunities for young performers.... summer stock, and small regional theatres.... many are non-profits and dependent on donations. When the economy is bad, people have to choose where to spend their philanthropic dollars (if at all), many times people will cut the arts before they cut their donations to their alma mater or a human right organization (as examples). </p>
<p>Some theatres may have to cut back their season, the number of case members they hire, etc... in order to deal with a dip in donation dollars, and sponsorships.</p>
<p>The economy absolutely wil impact the theater industry. And it might change the educational/training plans of kids who don't have the full backing of their parents. H & I graduated during the Carter misery index years. He came out with a BArch, but in the terrible recession, all jobs he was offered were so low paying that he couldn't afford the train ticket needed to get to the office & there was no support coming from home. So rather than become an architect, he switched to engineering. I know that there have to be families unable to help out their aspiring performers. And there are certainly those who can, but are unwilling. It's a difficult time.</p>
<p>This, at the moment, is my situation StickerShock (the bit you said about parents being able to support their kids but unwilling). My parents don't view music/theater as a real career and in the current economy would have me do anything else but music.</p>
<p>Terence, that's a tough situation. You can't judge them, because until you've walked in their shoes, you don't know what experiences helped shape their value system. They really do want what's best for you; obviously they want security for their son & just can't imagine MT providing that. Try your best to find schools that offer aid, or perhaps consider getting your training through electives & theater groups while pursuinig a major more palatable to your family. If you have other music skills that can provide paying work, start getting those jobs now to prove to them how you can make a go of a performing careeer. Good luck!</p>
<p>Thanks so much StickerShock. I actually have had a church job but I had to quit because they didn't like me not attending my own church. I think that was pretty helpful. I do play piano, but not for money :P. Anyway, they seem to be coming more and more around to it as I mention double degree programs, but the thing with MTs is that they are so intensive (especially with a BFA). We'll see what happens when it's time for me to apply next year =].</p>
<p>I forget who said that - but it was said a long time ago by a very wealthy guy in response to the ups and downs of the market through time. There may be some short term effects regarding the potential economic down turn we seem to be in. But two things, one - these things are cyclical, it would be very surprising if we did not ride this out in the next two or three years - especially with a hopeful upcoming change in leadership. Two - it might surprise some of you to know that spending on entertainment actually increased during the Great Depression in the 30's. </p>
<p>Also, if the market will not bear new shows on Broadway, the market will force an accommodation from the unions and producers as to how you put up a new show. This is the great hope fiat in a free market economy. Our current problems are due to a few greedy folks manipulating the economic culture of big business. Once reasonable government oversight was removed, greed and only greed literally ate at the foundations of truly free markets.</p>
<p>I think I might be getting too political/economic here....If we do not ride this out in a couple of years, we will have far greater problems to worry about than how many shows open on Broadway that year. So, if I may quote our great leader during the depression, "We have nothing to fear but fear, itself."</p>
<p>I'd like to point out that anyone who imagines that a life in the arts is EVER anything but a dicey proposition has no business getting into it in the first place. It's feast or famine, too often long stretches of the latter. And if you can't work with that, can't thrive on that, you're better off doing something else. Except maybe banking. It has always been thus, and always will be. Only people who can't feature doing anything else with their lives ought to go for it, regardless of the prevailing financial winds.</p>
<p>datripp, I know very well the vagaries of a career in theatre, trust me. We've had countless family members and friends in the business for decades. In the best of financial times when shows are plentiful, when deep-pocketed producers are falling over each other to invest in projects, when grosses are running at 80%+ and the average ticket price is high, it is still a very difficult career. However, this past year, the economy has increasingly affected not only currently running shows but projects in the works. Attendance has been down across the board all over North America. This is not just an issue in NYC, and not just with big Broadway shows.</p>
<p>Non-profits and community theatres who depend on personal and corporate donations have struggled with their fundraising. So many new projects have been shelved or postponed indefinitely. Advance sales, which are absolutely vital for the longterm success of big shows, are at dangerously low levels. Although it's true that changes in the economy tend to be cyclical, I think that to discount the almost certain effects of the current mess on what is already a business with 90%+ unemployment rates would be naive. It's something that should concern all of us who have children in the business or who are currently in college.</p>