Last week, I wrote an article on my website: Are Broadway Tickets More Expensive Now?

And sure enough, the universe answered with a brand-new study from my friends at No Guarantees Productions, a terrific producing organization that wanted to dig into exactly that.

They surveyed 500 Gen Zers and 500 Millennials with the simple question: Are Broadway tickets too expensive?

And guess what? Over 70% said yes.

But here’s the thing: cost is always the first barrier people select. Whether you’re asking about Broadway, baseball games, or Beyoncé, people will almost always say price is the problem.

Here’s where the survey got really interesting.

The Power of Context

No Guarantees didn’t stop at asking the question. They gave respondents more context:

• How Broadway ticket prices compare to luxury goods (handbags, shoes, high-end travel.
• How Broadway compares to other live experiences (the Yankees, Taylor Swift, Beyoncé)
• And (this is a big one) how much it actually costs to produce and run a Broadway show.

After seeing those comparisons, many of the same respondents said they’d be willing to pay over $500 per ticket.

Let that sink in.

When you put Broadway next to luxury goods and experiences, suddenly our industry looks underpriced.  And that isn’t me, a producer, saying that.  That’s the audience . . . in this survey!

Why This Matters

Broadway performers, stagehands, and musicians are the professional athletes of the theater.  They’re the New York Yankees!. And like the Yankees, delivering world-class performance requires world-class resources—and yes, high ticket prices.

We know audiences wish tickets were less expensive. We all do—because we want more people to experience Broadway. But the reality is, every dollar goes to keeping these productions alive: paying the artists, the crews, the rent, the marketing. Contrary to popular belief, most shows aren’t running on some massive profit margin.  These days?  Profitability is even more rare than it ever was.

The takeaway from this study? We need to do a better job educating our audiences about the why behind Broadway prices.

The Balance We Need

At the same time, Broadway needs to keep the door open. That means offering lower-priced tickets to welcome new audiences and nurture the next generation of theatergoers.

We need all ends of the spectrum: premium seats for those who value Broadway as a luxury experience, and accessible seats to ensure Broadway remains for everyone.

Broadway isn’t cheap—but when placed alongside the world of luxury goods and live events, it’s a bargain. Because I’m sure you’ll agree, the experience of a great Broadway show, is, like all great art, priceless.

>> Check out the full Playbill article on this study here.