Transcript
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Matt Tamminini (0:30)
Welcome to Today on Broadway for Tuesday, September 23, 2025. I'm Broadway Radio's Matt Tamminini and I'm.
Grace Aki (0:35)
Tell Me on a Sunday podcast. Grace Aki.
Matt Tamminini (0:37)
Grace, you mentioned it at the end of yesterday's show and then posted it on your social media. Now that it has been revealed on Instagram and everywhere, what was the big takeaway that you got from Broadway Flea this weekend?
Grace Aki (0:52)
I believe that I have the largest kind of like bulletin board, piece of poster board of F as Olaf as described in the souvenir program from the Frozen first North American national tour cast. It just got some lyrics, some renderings, some production shots, some detail shots, but it's all about Olaf and it's massive. And it's in my home now, so I get to live with this forever.
Matt Tamminini (1:23)
So what, what are you going to do with it? Are you going to frame it? You're going to like, hang it? Hang it over your bed?
Grace Aki (1:28)
Like, you can't. It's just a massive piece of like, not particle board, but like, just like just a big foam core item that I think was probably used in a boardroom at Disney Theatricals at one point. You really can't hang it. I don't know what I'm gonna do with it. You can't frame it. It's just kind of living on a shelf, which really just adds something else to the room where I live.
Matt Tamminini (1:53)
So how did F feel about that purchase?
Grace Aki (1:56)
I didn't ask. I just handed over a $20 bill. So I said, you carry this now. And they did.
Matt Tamminini (2:03)
Okay. F is nothing if not a trooper. So. All right, well, let's dive in to the news today, Grace. And we're going to start not with like, news per se, but something from the newspaper because the New York Times, Michael Paulson has a really sobering article that was released on Monday and the headline is simply, the Broadway musical is in trouble. And in the story. He runs through a lot of the things that we have been talking about fairly regularly here, Grace about how difficult it is not only to get shows mounted on Broadway, but more specifically to get them to profitability. He notes that there have been there were 18 commercial musicals that opened on Broadway last season and that none of them have yet turned to profit. He does note later in the article that Just In Time is likely to do so. He goes on to talk about the fact that since the return from the COVID pandemic, only three musicals have actually recouped their initial investments. Two of them were jukebox musicals, MJ and and Juliet, and the third one was six. And he also notes that all three of those enjoyed some sort of financial assistance from the government. Six and MJ, because they were open before the pandemic, received $10 million from the federal government in the form of the shuttered venue operator grants, and then and Juliet got the $3 million tax credit from the New York State, which we talked about was, you know, is kind of on its last leg. So if that goes away, who knows how that impacts things in the future. The article details a lot of the issues as to why prices to mount Broadway shows are going up and why ticket sales, as much as we complain about them getting higher, aren't rising at the same level. They talk about the fact that labor is getting far more expensive, not only for the actors, musicians and stagehands, but also the creative teams, but also because of tariffs and inflation. Materials, the lumber and the steel and the technology that goes into like building the sets is getting more expensive. The rent to theater owners is rising exponentially as well. And then fees to the different types of vendors that they work with to put on shows are going up too. Despite all of those increases in prices for the production ticket prices are not rising nearly as fast as you would think. The average ticket price for a musical last season was $127. That's only about 3.25% higher than it was for the last full season before the pandemic. Obviously, a lot has changed since the 2018-2019 season that is now been, you know, seven years ago. To only see a 3.25% increase is startling. He does make a comparison between Something rotten, which opened 10 years ago. That show had an initial capitalization of $14 million compared to Death Becomes her, which actually has five fewer cast members, costs 31.5 million. I don't know that those are necessarily apples to apples, considering Death Becomes her was built on an existing property is much more tech heavy, but still that is something to, to notice there. And you know, kind of going into details, talks to a lot of the different producers and people who are involved with shows. They talk to people from the Broadway League about what is going on with this situation. But he does kind of look at the fact that last season there were 14 new musicals on Broadway. Currently there have only been two that have officially announced their runs for this season. The Queen of Versailles and Two Strangers Carry a Cake Across New York. And then he says, like, it could only be seven new musicals on Broadway this year. One of the things that he talks about, Grace, is the fact that like coming out of the pandemic, there was just a glut of shows, something that we have talked about. All these shows that were built up and so many of them wanted to come to Broadway as soon as humanly possible, but the audience just wasn't there. Obviously the houses were available and we love seeing Broadway houses filled and we love all 41 theaters being occupied. But if the audience just isn't there, that makes it really hard for shows to break through. So this is kind of a distillation of a lot of the conversations we've been having on this show for the past few years, Grace. But I think it is a good article to give people a nuts and bolts look at where Broadway is right now, especially with musicals. They do note that, like, plays have been a lot more successful because of the limited runs, because of the star power, because of the ticket prices. But it is sobering when you look at the financials and realize that like, there's just not enough audience members or money out there to keep going at this number of new shows every season. And the only way to correct it at this point is probably to pull back on the number of productions that come to Broadway that are new musicals every year.
