When the Broadway Week 2-for-1 ticket promotion kicks off each January, it brings both excitement and challenges to theatres across New York City. This year, the promotion commenced on January 21, extending its duration to a few weeks—the enthusiasm generated by these deals often attracts a larger audience despite the financial implications. However, as seen in the recent reports, the gross earnings have taken a noticeable hit, with total attendance remaining similar to the prior week while revenues declined by an alarming 11%.
In the week ending January 26, the combined gross of 29 Broadway shows reached approximately $29.6 million, serving an audience of 246,230 individuals. This translates to an average ticket price of $120.27—$13 less than the previous week. Such price drops are a direct response to the ticket discounting strategy used in promotions like Broadway Week. While lowering prices can foster attendance, it can simultaneously lead to diminished revenue for productions already grappling with slim profit margins.
One of the standout newcomers this season is the musical “Redwood,” starring the renowned Idina Menzel, best known for her roles in “Wicked” and “Rent.” This production, directed by Tina Landau, has already shown its potential by selling out during its two preview performances, grossing an impressive $397,117. With its official opening set for February 13, anticipation surrounding the show could provide a crucial boost, not just in ticket sales but in word-of-mouth that could sustain its momentum.
Meanwhile, the Pulitzer Prize-winning play “English” has managed to carve a niche by grossing $264,480 during its opening week, which included three previews and five regular performances. Filling 81% of the Todd Haimes Theatre’s capacity, it stands to benefit from positive reviews, potentially reigniting audience interest during the remainder of its run.
Established Shows Facing Fluctuations
The comedic production “Oh, Mary!” experienced a minor setback in attendance with the exit of its original star, Cole Escola. This resulted in a fall from consistently sold-out performances to a still-impressive 98% capacity. Additionally, “American Primeval,” featuring the talented Betty Gilpin, reported a decline in gross, amounting to $926,002—a decrease largely attributed to Escola’s departure alongside the heightened competition from the Winter ticket sales initiative.
Interestingly, despite the challenges posed by the promotion, “The Outsiders” managed to perform remarkably well, generating $1,136,472 even after canceling a Saturday matinee. Selling out at standing-room-only capacities highlights the production’s popularity among audiences. The week also witnessed solid performances from “Romeo + Juliet” and “All In: Comedy About Love,” both of which managed to secure sold-out shows despite the promotional pressures.
Wicked once again topped the box office charts with a spectacular $2.4 million, followed by “Gypsy” at $1.8 million. As Broadway transitions into a new era, it is essential to recognize the cumulative statistics: with total gross earnings that have reached over $1.2 billion this season, there is a clear upward trajectory compared to last year—evidenced by an 18% increase in revenue and a 16% rise in attendance.
While promotional seasons like Broadway Week introduce both opportunities and obstacles, they also illustrate the resilience of the theatre industry. The sheer diversity of performances and the influx of talent keep drawing audiences in, ensuring that Broadway continues to thrive even in competitive and challenging markets. With the promotion running until February 9, it remains to be seen how these dynamics will play out in the coming weeks.