How do you make your show recession proof?
Make it great.
There’s a lot of talk in town these days about whether or not Broadway and Off-Broadway will be affected by our “current economic climate.” (don’t you love that phrase? Climate. Ooooooh. It’s so . . . weatherly.)
One producer even said to me . . . “Man, if only it was like last summer.”
Well, let’s take a quick look at this summer as compared to last summer.
The last four weeks of grosses this summer had 6 members of the million dollar gross club.
Over the same four week cycle last year? Three weeks had only 5 members and one week had 6.
The great are doing even greater.
So, are the $12 gallons of gas and the thousands of foreclosures around the country affecting this little corner of the country? Of course . . . we’ve seen at least two big shows pull the plug before taking the plunge. And there are even rumors of another. But before you panic, take a look at those shows . . . do you think the market was really craving either one?
During droughts or famines, it’s unfortunately the less fortunate that are to go first.
So don’t waste your time worrying about whether or not this is the right time to do a show, or the wrong time to do a show, etc. Market timing, in the stock market or in the show market, is never a smart thing. There are some stocks that are soaring right now . . . and there are shows that will soar as well.
Whether yours will be one of them or not only depends on one thing.
How great it is.
And getting it great is always your charge, no matter what kind of climate we’re in.
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.