Why more investors (even if they are smaller investors) is better for your show.
I’m a fan of the small Broadway investor.
When I crowdfunded Godspell back in the day, and we took super-small Broadway investments, a lot of folks looked down on the idea.
What about all that paperwork? What about all that communication? What about all that time you have to spend managing all those people?
Yep, it’s more paperwork. Yep, you have to communicate more. And yes, you are going to spend a lot more time managing more people. (I have a staff member dedicated to Investor Relations.)
But there are a host of reasons why I love the small investor, and why I continue to take them on my shows.
The biggest reason?
The more investors you have . . . the more tickets you will sell.
I haven’t surveyed my investors, but I would bet that every single investor is EASILY responsible for the sale of 8-10 tickets to a show they’ve invested in at a MINIMUM. And I’m talking 8-10 direct sales.
This doesn’t even take into account the number of tickets each investor sells from passive methods, like posting on social media, word of mouth, etc.
I often say that I’m not raising money for my shows, I’m raising a marketing army for my shows. And the more folks in your army the better.
Your investors are your biggest allies. Your biggest promoters. And yes, your biggest ticket agents.
Oh, and what I’ve seen is . . . a small investor on your first show can end up being a big investor on a later show.
So, I encourage you to do the same thing that Hal Prince did back in his day . . . and the same thing that I do . . . and get more people to invest in your show, even if that means you have to take less, or work harder.
Because it could help your show run longer.
So much has changed in our industry . . ….
I get it. No one likes to select a seat…
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.