How much does touring Broadway impact the economy.
Another interesting annual report from the Broadway League was released yesterday, and it has nothing with Broadway in NYC.
This report details the economic impact that Broadway had on the nation in 2008-2009 by exporting its productions from Times Square to Tennessee, Florida, California, and just about everywhere in between. Yep, Broadway truly is the longest street in the US. We’re all a lot closer than we think.
To quote the study, “the goal of this analysis is to quantify the impact of Touring Broadway to the metropolitan areas surrounding the cities that presented shows, and the economic contribution of the Touring Broadway industry overall.”
Here are the stats from the Executive Summary:
- In the 2008-2009 season, there were approximately 40 Broadway touring shows traveling across the country playing in 192 venues.
- Producers and presenters spent $807.2 million to produce and run these tours in the places that presented them or in New York City.
- Moreover, theatregoers who came to an area specifically to attend shows spent another $687.2 million on ancillary activities such as dining and transportation.
- Thus the total direct spending due to Touring Broadway amounted to $1.49 billion.
- This money then generated another $1.86 billion in secondary rounds of spending so that the full economic contribution of Touring Broadway totaled $3.35 billion.
- Eight-seven percent of this money ($2.9 billion) supported the communities that presented Broadway tours. Another $425.8 million impacted New York City.
- On average, Broadway tours visiting cities contributed an economic impact of 3.5 times the gross ticket sales to the local metropolitan area’s economy.
To get a copy of the complete report, visit the Broadway League.
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