One big benefit of being a theatre critic is that I get lots of review tickets for shows at no cost. And I’m very grateful . But I also buy a lot – particularly at the likes of the National Theatre, Royal Shakespeare Company , West End and Broadway venues.
In these uncertain times we might forget that theatre is a business too and though some Covid 19 funding schemes from the Government may cover some performers, it doesn’t seem it’s that many.
So the future well-being of performers will be in our hands – the audience. It’s thought the West End may well not function again till the end of 2020 if then. The public – you and I – will have to be happy to sit in the dark for a couple of hours with 1,000 or more other people whom we don’t’ know.
Have you wondered – as I am doing in this time of no live performances onstage – how much does it cost to put on a show and where the profit, if any , lies ?
Let’s explore that. Well, it’s not easy to find out. Theatre finances are opaque to put it mildly . But looking at Broadway websites and also published figures for the West End, you can see the scale and complexity of this business we call show.
Recent figures for Broadway reveal : in 2018/19 gross revenue for musicals was $ 1.43 billion and for plays $336m. In the last week pre-lockdown for which there are figures , 30 shows took ticket money totalling $26m , with average ticket prices at $123.
I haven’t yet found any site that reveals profits for Broadway shows but the biggest recent box office phenomenon – Hamilton – cost $12.5 m to mount and by June 2019 had taken in excess of $ 500m at the box office . Its creator Lin Manuel Miranda gets 7 % of the take – a cool $105,000 a week.
While we’re on mind-boggling sums, consider that Disney over 20 years has received more income on the stage versions of Lion King than it has on the Star Wars films – at some $8 billon – except that’s not quite true because StarWars merchandise is worth a further $30 billion !
Let’s come nearer home and consider first the West End and then a small lgbtq venue and also Chichester on our doorstep.
The Stage newspaper has analysed where the money goes on a typical £50 theatre ticket and it’s illuminating. Production costs take £10; marketing £4;VAT a staggering £8; royalties £7 and fees £4. The profit comes out at £6.46 a ticket but that’s based on selling 75 per cent of available tickets . Interestingly the VAT amounts to £117m a year – more than the total Arts Council funding in London to plays, opera and dance.
Weekly running costs can be as much as £250,000 on a typical £3 million show. Even now, in lockdown, the monthly costs for keeping a “ dark” theatre can be £150,000.
Nearer home consider the plight of highly successful theatres like Chichester Festival Theatre . Artistic director Daniel Evans has recently confided in print that the next few weeks involve agonising decisions. Four shows in the 2020 season have already been postponed- hopefully to re-appear whenever they can. The next crucial issue is the much publicised summer musical South Pacific . With 30,000 advance ticket sales , it would have been one of the biggest sellers of the season and it must now be in doubt.
And here’s a quandary – do you give back money from advance bookings ? There are different approaches going on. The National have offered me a credit against future productions – whenever they might be . Other organisations – including I understand Ambassador Theatre Group, which runs Brighton’s Theatre Royal – are offering refunds.
Most theatres would of course hope you think of their plight and turn your ticket money into a donation – much as Brighton Pride is wishing. And of course many theatres are currently able to offer streamed performances from their filmed archives, again hoping for donations or in some cases directly charging.
One piece of good news is that the wonderful lgbtq theatre Above The Stag in Vauxhall, London has secured funding to keep it afloat for the next two years should closure continue. That’s great news.
A whole family of actors, dancers, singers and musicians are now without regular income as many fall outside the Government’s many employment pay guarantees .
Let’s hope we see theatre again in Brighton and everywhere this year and in the meantime consider whether your donation now will secure our theatres for the future.
You must be logged in to post a comment.