Broadway Investors Hit with $100 Million in Losses with Wave of Summer Closings
Earlier this week, Frankie and Johnny in the Clair de Lune announced an early closing, joining a hefty list of shows that will be closing in the upcoming weeks. Many investors will not see return in their expense with musicals King Kong, The Cher Show, Pretty Woman, The Prom and Be More Chill all being set to close without recouping.
Between the Tony Awards and Labor Day, Broadway will have lost 16 shows, six of those having been open-ended runs and four being limited runs that were cut short.
Upcoming summer closing include: Burn This (7/14), Frankie and Johnny in the Clair de Lune (7/28), Be More Chill (8/11), The Prom (8/11), The Cher Show (8/18), King Kong (8/18), Pretty Woman (8/18), and What the Constitution Means to Me (8/24).
This week, 33 shows played on Broadway, with 287,178 tickets sold and a total gross of $34,040,843. The average ticket price was $118.54.
This was less than the number of shows as last week and up 3 vs. the same week last year. Compared to last week, attendance was down -2.92%. Versus last year, attendance was up 5.21%. On the sales front, overall grosses were down -5.28% vs. last week and up 0.52% vs. this week last year. This week's average ticket price of $118.54 is down $-2.95 compared to last week and down $-5.54 compared to last year.
Photo Credit: Matthew Murphy