The 1930's through the 40's were big years for the revival of operettas on Broadway. Musicals continued to be revived on Broadway, on tour, in summer stock and in new recordings throughout the 1950's and 60's. But by the late 1980's, new laws like copyright provisions favoring the owners of musical properties had been firmly nailed into place allowing corporations to endlessly profit from repurposing their properties and musical catalogues.
It actually started in 1977 as Most Innovative Production of a Revival and the award that season went to Houston Grand Opera's revival of PORGY AND BESS. The award was also given in 1978 but not in 1979. Starting in 1980 it was renamed "Reproduction (Play or Musical)" and remained an active category through 1993.
Starting 1994 the revival category was split into two: Plays and Musicals (1994 was a strong year for revivals with GREASE, SHE LOVES ME, DAMN YANKEES! and CAROUSEL all in the running.) At the time there was quite a bit of grumbling from insiders that Broadway was becoming a museum too focussed on reviving past glories, and that the Tony Awards should reward producers and creators of new works only. It was hard to take that argument seriously when they had to include two long-departed flop musicals to make up 4 nominees for Best Musical (A GRAND NIGHT FOR SINGING and CYRANO. The other nominees were BEAUTY AND THE BEAST and that year's winner PASSION.)
The award for "Best Revival of a musical" does not seem to carry the same box office clout as the Best Musical award, usually just adding additional fuel to an already proven success.
Cast albums are NOT "soundtracks." Live theatre does not use a "soundtrack." If it did, it wouldn't be live theatre!
I host a weekly one-hour radio program featuring cast album selections as well as songs by cabaret, jazz and theatre artists. The program, FRONT ROW CENTRE is heard Sundays 9 to 10 am and also Saturdays from 8 to 9 am (eastern times) on www.proudfm.com
I never thought of The Most Innovative Production of a Revival interesting, I thought best revival was a new category in 1994.
So Porgy and Bess has won best revival twice.
If you had best revival in 1993, I think there would of only been one entrant? That would of been Joseph And His Amazing Technicolor Dreamcoat, which played the Minskoff for 231 regular performances.
1992 fared a lot better with:
Guys and Dolls - Al Hirschfeld - 1143* A little Hotel on the Side - Belasco - 41 The Most Happy Fella - Booth - 229 Man of La Mancha - Marquis - 108 Peter Pan - Minskoff - 48 She Loves Me - Criterion Center / Brooks Atkinson - 354
*Did win the revival.
On a side note, the Tonys have the best award structure of all the different awards and I am including the ones back in Britain here too.