Authors, producers, and actors discuss the harsh reality of making a living in Broadway theater despite being part of a Tony Award-winning show. They touch on financial struggles, the magic of theater, challenges of managing productions, and the changing landscape of the industry post-pandemic.
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Quick takeaways
Successful Broadway shows like 'Stereophonic' can create big winners but require actors to seek additional income opportunities.
Financial challenges in Broadway productions highlight the need for creativity and resilience to achieve long-term success.
Deep dives
The Success of 'Stereophonic' at the Tony Awards
The play 'Stereophonic' surprised everyone by winning five Tony Awards even though it featured lesser-known actors and playwright David Adjmee's first show on Broadway. The unexpected success highlighted the challenges and intensity of creating and producing intense and engaging theater. Despite being a departure from traditional commercial plays, 'Stereophonic' proved that impactful and thought-provoking theater can captivate audiences and earn critical acclaim.
Economic Challenges in Broadway
The theater industry faces economic hurdles, with the costs of production escalating. Union fees, real estate expenses, and high wages for star actors contribute to the financial strain on Broadway productions. Despite the financial risks and uncertainties, successful shows like 'Stereophonic' demonstrate that creativity and resilience can lead to long-term success in the theater world.
Navigating Financial Investments in Theater
Broadway investments often involve financial risk, with only a small percentage of shows recouping their investments. However, changes in profit-sharing structures are providing opportunities for ensemble cast members, like those in 'Stereophonic,' to benefit financially from the success of a production. This shift aims to create a more equitable and inclusive environment in the theater industry.
The Impact of Live Theater on Society
Live theater, exemplified by productions like 'Stereophonic,' plays a crucial role in society by fostering empathy and shared experiences among audiences. Amidst challenges like the COVID-19 pandemic, the resilience and enduring relevance of theater as an art form have been emphasized. Theater serves as a platform for cultural expression, emotional connection, and societal reflection, highlighting its enduring importance despite economic and logistical challenges.
Broadway operates on a winner-take-most business model. A runaway hit like Stereophonic — which just won five Tony Awards — will create a few big winners. But even the stars of the show will have to go elsewhere to make real money. (Part two of a two-part series.)