Give my revenues to B'way
Great White Way's big success makes biz boom all over town
For the 1997-98 season, which ended May 31, Broadway recorded an all-time high attendance rate of 11.5 million people (an increase of 8.6% from the previous season, beating the 11.1 million record from the 1980-81 season). Grosses increased 11.7% to $558 million and average paid admission on Broadway rose from $47.24 in 1996-97 to $48.58.
"Broadway has become synonymous with New York," says Jed Bernstein, executive producer of the League of American Theaters & Producers, the national trade organization for Broadway. "We know that the majority of tourists say the No. 1 reason why they come to New York is to see a Broadway show."
A recent study conducted by the League estimates the Broadway industry contributes $2.7 billion to the economy of the city -- and close to two-thirds of that figure comes from tourists' pockets.
To better serve those theatergoing consumers, the League has established the Broadway Line and the Broadway Ticket Center, two avenues for ticket information and purchases that were identified as desirables in recent consumer surveys.
The return of the masses to the Theater District and Times Square is considered a direct result of the efforts by the city and state to revitalize the area, in part by banning adult entertainment in favor of family fare.
"There's a very important message to the consumer out there in middle America: It's safe to come to New York," says Peter Schneider, president of Disney Theatrical Prods. Schneider, whose company's stage production of "The Lion King" garnered the 1998 Tony Award for best musical, adds that this message is making New York very hot at the moment.
Wally Rubin, director of theater for the Mayor's Office of Film, Theater & Broadcasting, agrees there has been an enormous change in the Theater District in recent years. When you consider that 25 years ago theater critic Walter Kerr suggested that the theater district move to the East Side, you realize how enormous that change actually is.
Peter Kohlmann, vice president of marketing and special events for the Times Square BID (Business Improvement District), agrees that the neighborhood's face-lift and the increased popularity of Broadway theater have had a major impact on the local economy.
"We have lots of small businesses in Times Square that depend on a good season," he says, adding that recent studies show increased pedestrian counts prove "it is easier and more enjoyable for people to spend time in Times Square." On Broadway between 45th and 46th Streets, for instance, approximately 4,500 pedestrians pass by per hour between 11 p.m. and 1 a.m.
With safer streets and easier access to tickets, demand for Broadway shows has had the ironic result of a glut in productions, making it difficult for new shows to find venues. Barry Manilow, who hoped to bring his new musical "Harmony," co-written with Bruce Sussman, to the Street this year, has been unable to secure a theater. "The last thing we ever thought we'd have problems with was finding a theater," says the composer.
Of course, the entertainment and revenue generated by New York theater is by no means limited to Broadway. Ben Strecher, vice president of the League of Off Broadway Theaters & Producers, says Off Broadway now occupies the place that Broadway formerly did, attracting the audiences for legitimate, straight plays -- what used to be known as the "carriage trade" -- as opposed to an audience of tourists.
"Without citing numbers," he adds, "whenever we open a new play at the Promenade Theater on the Upper West Side, the business for the merchants in the area rises with the tide of the play."
