Lin-Manuel Miranda's latest show closed in profit, but it was slim pickings elsewhere, with the Rialto on the edge of a deep slump.
... [+]It’s that time of year again. When the holidays are long gone, a winter chill settles over Broadway and sales slow to a relative crawl. This week the chill was metaphorical, as thermometers hit 70 degrees, but even the dread of a warming planet couldn’t push buyers to splurge for Rialto escapism.
While 18 shows grossed over $1 million, most only made it over that threshold by a hair. Only five cracked $1.5 million - down from ten last week. And of the ones that did gross seven figures, nearly all did so in spite of huge week-to-week losses. The exception was Lin-Manuel Miranda’s improv extravaganza,, which closed on a high note, cracking $1 million and recouping its $3.6 million investment.
What to make of all this? The quick hot take is that Broadway’s sales are slowing...but that’s not the full picture. Yes, 2019 ended the industry’s streak of year-over-year sales records . But is the Rialto hitting a true slump? By the same token, an unexpected flop could pull the overalls down. And that’s seems to be what’s happened - a string of flops, without enough hits to balance the books., and. Everything else has closed, to the tune of $100 million in losses. It was an unusually large crash, yes, but the content was unusually, well, blah. The year before, for example, seven brand-new shows were still running the following winter - and three of them continue to sell out now.
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