Bloomberg: A look behind the emerald curtain at “Wicked” helps explain why, despite long odds against success, a dozen new musicals arrive on Broadway each season. Since the $14 million show opened at the Gershwin Theatre in October, 2003, its producers and investors have shared more than $300 million in profits from Broadway and productions worldwide, according to records obtained through a Freedom of Information Law request.
Wednesday, April 18, 2012
‘Wicked’ Writers Pay Top $95 Million for Global Smash
Bloomberg: A look behind the emerald curtain at “Wicked” helps explain why, despite long odds against success, a dozen new musicals arrive on Broadway each season. Since the $14 million show opened at the Gershwin Theatre in October, 2003, its producers and investors have shared more than $300 million in profits from Broadway and productions worldwide, according to records obtained through a Freedom of Information Law request.
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Sometimes I forget about the insane amount of money that exists within the entertainment industry. At school I sometimes feel like it's a widespread joke that we're not going to make any money after graduation because we went out and pursued BFAsrather than gong to business or engineering school. Then again, that's not necessarily true. Especially in well regarded programs like this, ones that are known and have a large alumni connection based. All you have to do is look at long running theatre like Wicked or Phantom or Lion King, theatre that touches a certain group of people (women of hopeless romantics or kids) to remember that there's a whole world of possibilities out there if you're hitting the right market.
This is a truly refreshing article to read. While I know that this is most definately not the typical situation that even 1% of the shows created even come close to attaining, it is really important to see that there are some forms of theater that can combine our love of theater and give us the riches that every one at some point desires. I think the greatest part about being one of those three major people on the show (Schwartz, Holtzman, MacGuire), is that they truly are making a living off something they trule love doing. I think that that is the real reason we do what we do, and any financial stabilty is just a secondary benefit. I mean, if we wanted to make money, we wouldn't be going into theater.
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