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Economist Podcasts
Money Talks: There’s no business like it
Dec 21, 2023
Stevie Hertz, The Economist’s US audio correspondent, shares insights on Broadway's financial struggles. The discussion reveals the theater district's ongoing challenges post-pandemic, from rising production costs to a surprising decline in ticket sales despite high attendance. They explore the balance between artistic passion and economic viability, alongside the impact of recognizable titles on profitability. Hertz also humorously dives into the quirks of corporate culture in the arts, all while pondering the future of New York's iconic theaters.
47:32
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Quick takeaways
- The podcast highlights the economic significance of Broadway, as it contributes billions of dollars to New York's economy and supports numerous jobs.
- The podcast explores possible strategies to sustain Broadway, such as resource sharing, scaling up the market through streaming, and government support.
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Challenges faced by Broadway
The podcast explores the challenges faced by Broadway, such as the closure of Andrew Lloyd Webber musicals and the impact of the pandemic on shows like Phantom of the Opera.
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