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A Smart, Strategic Way To Help Theatre Companies

Our thanks to Playbill for the feature! Check out the article below to learn more about all the remarkable theaters and their impactful legacies:

Managing a theatre requires a lot of moving parts to line up for a consistently successful shows. Learning how to do this on the job is part of it, but there are reference works available to make that process easier. Kurtis Hammer reviews Duncan Webb's 'Running Theatres Second Edition: https://lnkd.in/g3eNgwVM #theatre #theater #expertopinions #operations #programming #financialmanagement #audiencedevelopment #boarddevelopment #realworldresults

As the curtains rise post-pandemic, and people finally realize that binge-watching is neither a lifestyle or a hobby, immersive theater is dangling the carrot of interactive drama. Take the Secret Theatre's newest offering, "The New York Secret," which throws audiences back into the 1980s, minus the questionable fashion choices, for a night of interactive performances with the likes of Bowie and Elton John. By blurring the lines between actors and audience, these shows offer a new level of engagement, making theater not just a "spectate" but a "participate" experience. Will this snap people out of their Netflix cocooning, and get them rolling off their sofas and returning to the theater?

Not all the hot theater tickets are for the big Broadway shows. Off-Broadway productions in New York City are thriving and often provide an even wider range of offerings for theatergoers. Productions like "Titanique," "Job," and "Oh, Mary!" are achieving full houses due to their fresh concepts, quality productions and often more competitive ticket prices than their splashier Broadway competitors. Word of mouth is also a vital marketing tool in attracting audiences to these shows that may not have the big ad budgets as Broadway hits. And there seems to be a shift in audience preferences towards more unconventional entertainment options. So if you're looking to see a show, Times Square isn't the only place to find something of quality and affordability. There's plenty of great theater beyond the Great White Way. #broadway #offbroadway #theater #onstage #tickets #boxoffice https://lnkd.in/edH7-Dgm

In an era where entertainment is everywhere, what truly draws a crowd? Off-Broadway's booming success suggests something fairly straightforward: fresh, inventive ideas executed flawlessly. Surely this is relevant to all efforts to captivate audiences. Clever, appealing and fresh ideas are vital. But brilliance remains a bedrock. #Audiences #TicketSales #PerformingArts #Theatre https://lnkd.in/ehJSTwdQ

'A behind the scenes look at theatre investment' is the title of an article in Spear's Magazine by Suzanne Elliott. It is insightful and well worth reading for anyone interested in taking the plunge in investing in a stage play or musical. One stand-out quote is this, "The arts and culture industry is worth £10.8 billion a year to the UK economy and a whopping $876.7 billion in the US and nearly all producers – even big names on Broadway and the West End – require private investments to help raise the curtain." https://lnkd.in/gngbDjvV #theatre #theatreinvestment #musicals #culture #wealthmanagement

UK theatre-goers will welcome the news that the price of standard theatre tickets has reduced over the past year. The price of premium tickets have increased by 9%, but this represents just 13% of theatre tickets sold. UK theatres have experienced huge cost increases, but these are largely not passed on, with average ticket prices only rising by half the rate of inflation since before the pandemic. The Society of London Theatre president, Eleanor Lloyd, spoke to the Ticketing Business and said: “Despite the rising cost of theatre productions, theatre works hard to offer affordable tickets to encourage a vibrant theatre-going community. Almost a quarter of the tickets sold in the West End last year were for under £30, and just 13% were bought for more than £100." Unfortunately keeping prices competitive will be difficult to sustain, as cost increases and workforce challenges look to remain for the foreseeable future. Hopefully theatres can keep their regulars coming back, and also attract new audiences to keep this important industry going!

The UK's decision to make Theatre Tax Relief permanent is a groundbreaking move that not only highlights the immense value placed on the arts but also sets a precedent for how governments can foster the growth of cultural industries. This policy not only mitigates financial risk, enabling more ambitious and diverse productions, but also significantly impacts local economies and job creation. This begs the question: could a similar approach be beneficial in the US? How might tax incentives for theatre production encourage innovation, support local economies, and reinforce the US's position as a cultural leader? The UK model shows that strategic investment in the arts can yield substantial economic and cultural dividends. It's time to explore how these lessons can be adapted to bolster the US theatre industry, making it more vibrant and sustainable. Let's discuss: What changes could the US implement to support its theatre industry on a similar scale? How could such policies impact the cultural and economic landscape of American theatre?

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