Monday, October 27, 2008
Bloodbath on Broadway: The credit crunch hits
The Independent: "They don't usually stop smiling in Spring Awakening, a relentlessly cheerful Broadway musical that won eight gongs at 2007's Tony Awards. But there were frowns aplenty backstage last week, when the cast were suddenly informed that they will all very soon be out of a job."
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Although the closing of shows makes perfect sense given the current economy, it makes me so nervous given my chosen profession. Watching my dad, a few years back, go through layoffs in the power industry i have some background for quantifying these problems. All i can say is that it seems each business goes through a wave of unemployment and then gets back on its feet. Hopefully with a new administration the economy can improve and draw theatre goers back into those seats - but until the economy as a whole goes back up i believe we will continue to see attendance to fall.
This makes me nervous personally for the economic status of New York as a whole. I'm sure a lot of the economic structure could hypothetically collapse if broadway reaches a period where no one is going. I also wonder what all of the designers, managers, electricians, capenters, riggers etc. will do when they find themselves out of jobs.
This is just one more example of how the current economic situation affects many aspects of American life. While, like others I am sad to see the shows close, I take comfort that maybe they may come back someday. Some of the shows are going on to tour and others were closing soon anyway, so it is not all that bad. Like Sarah, I am nervous that we have chosen to work in a profession that requires an audience to spend money that people don't have right now. I hope that by the time we get out into the "real world" the situation will have started to right itself.
For the time being theaters need to tighten their belts and find what is important to them.
"These are hard times for America's theatreland, which is finding itself sorely tested by the cold reality of America's spiralling economic crisis." I do dont agree with this statement because the very possible reason for why spring awakening is closing is because the new cast did not hold up its weight and might not of been as good as the other cast, which made a very big name for themselves! Economically, theatre on Broadway has been higher than it has been in recent past years, because more people are getting involved with theatre. The economic problems with America are having a large effect on Broadway but I honestly think it is managable and will be able to find its way out of this so called economical problem.
i do agree that this is a sad time for broadway and that it is devastating. however, it doesn't mean that theatre is ending all around. theatre can be made with 5 dollars in a wharehouse, as our teachers constantly remind us. so even thought the big ticket shows might be closing, maybe it will open more doors for smaller and cheaper productions.
"For the last 10 years, the industry has been living off the back of European and Asian tourists coming here, because the dollar has been so weak. Now it's stronger, they're disappearing. And ticket prices have got so high that most New Yorkers are priced out of the market."
I find it interesting that Broadway is depending so heavily on foreign tourists. I wonder if their dwindling numbers might spark a change in the shows being produced on Broadway. Shows of a more intimate nature, directly relating to our lives today. While this change is exciting, like many of you here. I feel a bit nervous. The arts are the first to lose out in an economic downturn. But like Peter said, theatre can be made anywhere with any budget. we just need to ask ourselves what are we in this business for.
This news is seriously depressing. i agree with sara that this current state of affairs is getting increasingly scary. Hopefully by the time comes for us to go out into the work force times will be better but right now we have to start planning for the worst case scenario. I believe that with a little hop and faith, plus a new and improved commander in chief that our economy and thus our entrainment industry will soon be up and running again. Until then all we can do is VOTE!!!
News like this can make anyone who has chosen theatre as their profession nervous. However I firmly believe that theatre will always have strong followers and that a situation like the current one might encourage all those involved in the creation of theatre to think of new fantastic ways to draw audiences.
I’m really interested to see what the Broadway communality will do in the face of falling ticket sales. The cost of operation and the price of production has gotten so high that audiences are no longer buying tickets. If the producers are going to try and talk to the unions about operation costs there will be some very intense issues that crop up. The producer who is quoted at the end of this article sounds like he wants to bring up issues that just got put to bed last year.
I didn’t think that Broadway relied on foreign tourism so much for there income. The economic recession is definitely hitting the entertainment industry hard right now. Reading about how hundreds of stagehands, actors, and production folk are losing their jobs already makes me wonder whether it is even worth it for someone to try to enter the industry at this time. Seems like it may be smarter to just sit out and let things settle.
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