GUESS! What was Broadway’s Economic Contribution to NYC in 2014-2015?
Let’s play a game.
Guess how much of an economic impact Broadway had on New York City in the 2014-2015 season.
Go on . . . guess.
How much money was made by other businesses in the city thanks to Broadway Producers spending money to produce and run shows, thanks to theater owners spending money to maintain and operate their venues and thanks to tourists who came here to see shows spending money on “I Love New York” t-shirts?
You got a clue?
All wrong. You lose. Go directly to jail, do not pass “Go” and do not collect $200 . . . 12.6 billion dollars!
That’s right, in the season before this one, New York City benefited to the tune of 12.6 billion dollars thanks to Broadway.
This whopper of a number was just released by our friends at The Broadway League in an exclusive report to its members.
Want to see how those numbers break down? Here’s a table . . .
Broadway’s Economic Contribution
Pretty amazing, right? Our little industry ain’t so little, now is it?
What’s even more important is that the $12.6 billion represents a 4% increase from the 2012-13 season and a 6% increase from the 2010-2011 season (in constant or inflationary adjusted dollars).
We’re making a big show stoppin’ impact . . . and that impact is getting even bigger.
All the more reason why the city should be showing us more love. Not to sound like a spoiled brat of a business, since we did get some tax relief this past year for our Investors, but it took us throwing a tantrum for a decade to get it.
The city (and state) has always had a, “If you don’t like the way we treat you, go somewhere else and be on Broadway” attitude, knowing full well that we can’t.
And that used to be true. But today, Broadway Producers and more importantly, the Artists that create shows for Broadway, can. They can go to London, to Hollywood, to a warehouse in New Jersey, and just about anywhere.
Broadway’s geographic lines are going to fade away over the next couple of decades, especially if this theater crunch doesn’t ease up. Because the next generation of Producers and Artists ain’t gonna sit around waiting for their turn. They’re going to create art wherever they can . . . even if that’s in another city. And the next generation of audiences just may follow them.
So be nice New York City . . . and we’ll keep giving you billions and billions of dollars.
Or don’t, and some of those billions could end up in Great Britain.
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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.