Grease dropped another 2.9%, 249 seats, $22,000 gross return this week (12/16/07). Jersey Boys stayed almost even, Wicked and Little Mermaiod were down about a half percent or so and a number of others (including: Hairspray, Legally Blonde, Mamma Mia, Mary Poppins and a number of others were also down.
Grease did not look particularly bad compared to the overall picture but it does seem that Broadway has not yet bounced back from the strike to take advantage of the seasonal upswing typically seen. The reasons why are varied but certainly the weather hurt most shows and probably contributed to the overall lack of activity.
Regardless, the continued flattness or decline in many cases is not a happy circumstance for those keeping the books on the individual shows. Grease is certainly among these but isn't doesn't seem to look particularly bad.
In the long run though it is not appearances but the status of cash reserves as dictated by the box office returns that will decide how long the show plays.
There are several motion pictures that have opened to extra big grosses across the nation and this can impact life-theater box offices not only through ticket purchasers directly but also because the successful flicks are getting a lot of free advertising by virtue of their appeal. Movie box offices are probably helped some by the Hollywood writer's strike effect on television ratings but it is more difficult for Broadway to receive such assistance by virtue of the difference in ticket cost between a hit movie and a Broadway show.
Week ending 12/23 results are posted at Broadway World.
Grease summary:
% seats filled dropped 4.8% to an even 80%
12th in total gross compared to 10th last week
Gross receipts were up $14K from last week. With fewer ticketrs sold it must have been a case of selling more of the higher priced seats.
The most worrisome thing in the data is that more shows are beginning to pick up in % gains and passing Grease. There is not enough change to note a trend but it is something to watch carefully. Momentum is so important in box office results.
The results were late this week and probably will also be so next week too due to the holiday.
They are changing a show time from Wednesday night, which seems to be deadly for Grease, to Sunday night. Already only best 2 orchestra seats available for first Sunday evening performance is in Row Q....which never really happened for a Wednesday night lately. Don't know if it will make enough of a difference but it is something.
Surely, the producers are familiar with the JanFeb market and have figured accordingly, right? Personally, I would not plan anything in advance for the snowy season, which includes March. For the moment, $706,196 is pretty good, although the capacity down 4.8% is not good.
Mr.E, you said a while back that the 'less-than-favorable' reviews would kick in at some point and affect sales. Have we reach that point? or is it approaching? Also, is the MaxLaura frenzy losing steam? These two factors combined would not bode well for the coming months.
Capacity actually has no "real" relevence - it's not the number of seats filled, but the amount of money made that counts.
It seems there was a bit of a frenzy when the show opened. Now, GREASE is just another show on Broadway. Everyone (and I use this term loosely) has forgotten about the reality show, and Max and Laura are now your run-of-the-mill Broadway performers. (Living in New York, and having friends in the industry, it's easier for me to call them 'run-of-the-mill,' since, unless you're internationally famous, you're 'run-of-the-mill.' That's not saying anything negative about Max and Laura, who I'm sure have decent-sized careers ahead of them).
When there was nothing to overshadow them, there was a big hubbub. As the season went on, you had the Broadway debuts of Claire Danes and Jennifer Garner, the newest Mel Brooks musical, the newest Disney musical, a slew of criticially acclaimed dramas and comedies, etc.
I know GREASE has been on the TKTS board - not that this is a bad sign, it was bound to happen eventually. But the bad reviews will kick in soon - everyone who has wanted to see it will have seen it, the audience will bottom out, and, like every show, it'll close. It's inevitable. Personally, I give it (and have always given it) until the contracts run-out.
I disagree with Mr.E. I think the show has legs to run for a while longer even without Max and Laura. Stunt casting will help and I am sure it is being considered. In any case, I personally know of New Yorkers and regular theater goers who have tickets into April/May.
Everything on Broadway has been on TKTS and so that's not the whole key with the exception shows like Wicked or Jersey Boys which haven't been nor have some of the newer shows. Of course, only time will prove either Mr.E or me wrong.
What is the shelf life of a reality tv winner? or loser? It seems to depend on "what have you done for me lately?".... Carrie Underwood (winner) and Daughtry (loser), both with records selling into the millions, are at the top of the music industry.
If the Grease excitement is over and the MaxLaura phenomenon has lost it's luster, there will be no incentive to renew either one's contract, and they will move on.
I can't speak for how well the show is selling, but it's the advance sale that matters. If the show has a large enough advance once Max and Laura are scheduled to leave, than of course, it'll go on. But I doubt that'll be the case, considering the overwhelmingly negative reviews, and the fact that the sole drawing factor is the Max/Laura appeal.
The Weisslers cornered the market on stunt casting for the last revival - I think everyone who was popular in the 80s and early 90s went into that show. They won't go that route for this production, as it would just seem like Ian is doing the same thing. And for the record, I enjoyed the Pepto-Bismol-colored 90s revival much more. It had heart.
A lot of folks were saying "You are the one!!!" to the Grease performers during Christmas week. The company set a new box office record for the Brooks-Athinson theater that week. See Broadwayworld.com for the details. Go to news page and scroll down the list on the right for the story.
WOW!...that seems unbelievable!...from $706,196 to $1,140,813 for a 6-day period, although it included New Year's Eve. It's the perfect New Year's Eve show. Did they do more than 8 performances? More seats might have been designated Premium.
P.S. I just read on Max's site that there were 9 shows in 5 days, and tickets were $50 more.
Way to go Grease cast and production team! Doesn't this make you think that Grease could at least enjoy an extended few months through the summer of 2008? When the kids are off school and can come to New York, a lot of them are obviously choosing to see Grease!
Way to go Grease cast and production team! Doesn't this make you think that Grease could at least enjoy an extended few months through the summer of 2008? When the kids are off school and can come to New York, a lot of them are obviously choosing to see Grease!
Oh, please, L's Mom, from your mouth to the producers' ears. I'd love to see Max and Laura but simply CAN'T get to NYC before June. We'll see Grease if it's there, something else if it's not, but my daughters and I would dearly love to see Max and Laura.
Wow, those figures are pretty stunning for this time of year! I'm sure that having some cheaper tickets available helps sales and fills seats. If I lived locally and the price of tickets went down, I'd go more often for sure.
Week of 03/02 - $496,458 - 82% capacity, down 13.6% Week of 03/09 - $573,962 - 90.9% capacity, up 8.9% Week of 03/16 - $635,844 - 93.2% capacity, up 2.3%
It seems to be holding its own and is gaining as the days get longer and business begins picking up on Broadway.
Those stats also seem to support my theory that ticket sales would be real good the next month or so while many high schools and colleges take spring break trips to New York. Thanks for posting an update Grannygreaser.
Just realized no one had talked about the dollars & cents recently so I went out & had a look. With 91% full and close to $650K last week, it looks like the show is continuing to hold its own. Click on this link to see the numbers for yourself Broadway Grosses
Not sure but for the numbers to stay as strong as they have been is really great. 91% capacity is more than merely holding its own. It's really doing well.
I had read way back in the beginning that they had to make 30 million to recoup. David Ian had said back then he thought it would take till april to recoup, but that was before the offtime due to the strike. I think they are in the 20 something million range.
We were in New York last weekend and saw the show Saturday night with a packed house and fun audience. The waning enthusiasm that was theorized on another thread sure wasn't apparent the night we saw the show. The crowd had a great time and there was a standing ovation. Seven out of the last eight weeks have had over 90% ticket sales. And even in the worst of winter the sales were 75%-85% consistently. Though I understand little about the business side of Broadway, I cannot imagine that they have not made a profit with this show. And probably 30-40 or so people waited at the stage door for each of the weekend shows this weekend. That's not 200 but it's not "no one" either. I would say the show is still looking very much alive by every measurable statistic.
Well as everybody know by now I am gong to see the show on April 25 i WAS LUCKY TO HAVE AN ORCHESTRA TICKET I orderded it at least 1 month in advance,,,, now there is no tickets left in orchestra for that night... that doesn't sound like a show in a bad situation....
Like almost everyone on the list I would like to see the show extend if even for only a short period such as the summer of 2008. And, again like almost everyone else, I have no real idea about how much is actually being made as far as profit is concerned.
Awhile back we had a long thread about costs and income and net and it seemed as though most had grasped the concepts involved. But I worry a little about people's hopes being shattered because it appears as though many (certainly not all) are not remembering that of a week's box-office take of $750,000 only a portion is net gain or profit.
There was some knowledgeable speculation early that the cost of a week of performances was about $500,000 give or take. Using the example figure of $750,000 for such it would mean that the week provided $250,000 net. Using Ian's statement that would mean that it would take about 40 weeks of such box office figures to reach the break-even point of $10,000,000. Only then does profit start to show. These example figures appear to be close to accurate because the equation fairly well matches Ian's prediction of 40 weeks of performance beine necessary to show any profit.
However, in contemplating added performances following the contracted year, it would mean that profit takers would have to agree to risk some accumulated profit on the assumption that the show would continue to make money with the added performances. And remember, investors do not simply want to get their ten million back, but want to show a profit on that too as they have had ten million dollars worth of capital tied up for 40 weeks when it might have been earning something somewhere else.
Additionally, if the enthusiasm about the original production is to any significant amount based on the who is performing (as very well may be the case in Grease) if the opriginal cast is changed (e.g., Max or Laura or any other popular cast members) there aare additional expenses in re-casting and a lot of additional risk.
Investors in such circumstances may be tempted to try to make more by investing risk capital in something new rather than take a chance on probably diminishing capital gain on an old production. In the entertainment business investors seem to be more willing to try something new than to delegate capital gains to a production which, by the general nature of such things, is likely on a decelerating curve of return.
To put it bluntly, investors or less excited overthe raves of established fans' than they are in the probability of extended box office receipts that produce profit.
Little of this is based on the Grease production per se but is simply a reflection of the facts of life in such investment endeavors. To use a cliche of the stock market, "One need not like bacon to invest in pork bellies,"
As one's broker might say, "Hope for the best, keep your eye on day-by-day return figures, but be careful about betting the farm on it."
Like almost everyone on the list I would like to see the show extend if even for only a short period such as the summer of 2008. And, again like almost everyone else, I have no real idea about how much is actually being made as far as profit is concerned.
Awhile back we had a long thread about costs and income and net and it seemed as though most had grasped the concepts involved. But I worry a little about people's hopes being shattered because it appears as though many (certainly not all) are not remembering that of a week's box-office take of $750,000 only a portion is net gain or profit.
There was some knowledgeable speculation early that the cost of a week of performances was about $500,000 give or take. Using the example figure of $750,000 for such it would mean that the week provided $250,000 net. Using Ian's statement that would mean that it would take about 40 weeks of such box office figures to reach the break-even point of $10,000,000. Only then does profit start to show. These example figures appear to be close to accurate because the equation fairly well matches Ian's prediction of 40 weeks of performance beine necessary to show any profit.
However, in contemplating added performances following the contracted year, it would mean that profit takers would have to agree to risk some accumulated profit on the assumption that the show would continue to make money with the added performances. And remember, investors do not simply want to get their ten million back, but want to show a profit on that too as they have had ten million dollars worth of capital tied up for 40 weeks when it might have been earning something somewhere else.
Additionally, if the enthusiasm about the original production is to any significant amount based on who is performing (as very well may be the case in Grease) if the opriginal cast is changed (e.g., Max or Laura or any other popular cast members) there are additional expenses in re-casting and a lot of additional risk.
Investors in such circumstances may be tempted to try to make more by investing risk capital in something new rather than take a chance on probably diminishing capital gain on an old production. In the entertainment business investors seem to be more willing to try something new than to delegate capital gains to a production which, by the general nature of such things, is likely on a decelerating curve of return.
To put it bluntly, investors or less excited overthe raves of established fans' than they are in the probability of extended box office receipts that produce profit.
Little of this is based on the Grease production per se but is simply a reflection of the facts of life in such investment endeavors. To use a cliche of the stock market, "One need not like bacon to invest in pork bellies,"
As one's broker might say, "Hope for the best, keep your eye on day-by-day return figures, but be careful about betting the farm on it."
With 4 out of 5 shows failing totally to recoup I imagine that a show that shows a weekly profit would be something the producers would want to keep going. Otherwise why invest in Broadway in the first place anyway.
Come summer, the kids will once more be out of school and the tourists will return. The run has been respectable so far and if the show holds out through spring, the summer season will save it with a bit of marketing. Considering that any revival of "Grease" will be under the shadow of the Travolta - Newton-John movie, I'd say Max and Laura have a lot to be proud of.
Nice that they keep going strong. Last week, many school districts in the metropolitan area were off for the spring break. I know that helped the numbers overall the shows.
While the show gross is down this week, other shows have taken a much bigger hit. Off week, before the tourist season starts, so many shows are down. Still doing very well.
This week $572,144 last week $686,113 ticket prices $78.27 $251.50 (lowest and highest) Number of tickets sold 7,310 Total number of seats 8,576 (8 shows) This week 85.2% last week 96.6% -11.4%
Hi guys--thanks for all the positive posts I've seen about the new Teen Angel--I noticed where the receipts are up this week--anytime somebody new takes over the part the curiosity factor comes in--maybe the fact that Taylor took over the part and people still remember him from Idol brought this kind of increase. Am I out of line here to say this?