Forget about investing in Broadway shows. What about Broadway stars?
A company called Fantex Holdings has taken fantasy football to to the next level. In the Fantex market, you can actually buy a share of a player! For realsies! They issue an IPO for an individual, who gets paid what is raised in the initial offering, and then that player agrees to give a percentage of his future earnings to his shareholders.
Player gets up front cash. Investors get hopeful long term rewards.
You can read all about it here.
I have a feeling this niche form of investing (and gambling) may just gain some hobby-like traction. After all, this kind of thing is the American way . . . if something is fun, like football, just add money, and it becomes more fun. Right?
Of course, I couldn’t help but think if it could be transferred to Hollywood (imagine owning a piece of Clooney), and of course to our backyard on Broadway.
What if you could own a piece of Patti LuPone? Or what about a Director? Or hey, would you buy a share of a Broadway Producer? Hint. Hint.
Seems like a crazy concept, right? But it gives investors a chance to invest small amounts of capital and “own” a piece of art. And it gives artists a chance for a quick and easy payout, allowing them some insurance as they continue on with their careers.
So tell me. Who do you think is a Broadway blue chip? Who would you invest in???
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Ken created one of the first Broadway podcasts, recording over 250 episodes over 7 years. It features interviews with A-listers in the theater about how they “made it”, including 2 Pulitzer Prize Winners, 7 Academy Award Winners and 76 Tony Award winners. Notable guests include Pasek & Paul, Kenny Leon, Lynn Ahrens and more.