Broadway box office and ticket prices experienced a sharp decline last week, following the previous week’s inflated numbers during the Thanksgiving holiday. The combined total gross for all 26 productions plummeted by 14%, resulting in a meager $29,568,897. This significant drop indicates a noticeable decrease in audience spending.
The average ticket price for the week ending December 3rd stood at $134.70, which marked a substantial drop of $16.19 or 11% from the holiday week’s average. This decline in ticket prices contributes to the overall decrease in box office revenue. As a result, it appears that audiences are becoming more cautious about their entertainment expenses.
Amidst the overall decline, one notable exception was the new show “Appropriate” starring Sarah Paulson. This production, written by Branden Jacobs-Jenkins and featuring Elle Fanning and Corey Stoll, achieved nearly full capacity at the non-profit Second Stage’s Hayes Theatre. With attendance reaching 98% of the venue’s capacity, “Appropriate” managed to generate $483,124 during its seven previews. The play’s upcoming opening night on December 18th anticipates further success.
Despite the overall downturn, several shows managed to maintain strong attendance rates. Productions like “& Juliet,” “Aladdin,” “Hadestown,” “Hamilton,” “I Need That,” “Merrily We Roll Along,” “MJ,” “Moulin Rouge!,” “Six,” “The Book of Mormon,” “The Lion King,” and “Wicked” reported a healthy rate of 90% capacity or higher. These shows continue to attract audiences and retain their popularity despite the current challenges faced by the Broadway industry.
To date, the Broadway industry has achieved a gross revenue of $799,226,359 with a total attendance of 6,485,630. While these numbers may seem impressive, it is essential to consider the recent decline in revenue and the potential long-term impact on the industry. The industry must find ways to adapt and overcome the challenges it faces in order to maintain its success.
The decline of Broadway box office and ticket prices following the Thanksgiving holiday raises concerns about the industry’s future. The significant decrease in revenue and ticket prices, along with the cautious spending behavior of audiences, highlights the need for the industry to adapt and innovate. While certain shows continue to thrive, the overall decline suggests a more challenging environment for Broadway. It is crucial for the industry to find creative ways to attract audiences and secure their financial stability in the face of uncertain times.