Broadway Box Office Sees Mid-Summer Slump

Ticket Sales See Overall Decrease in Summer Seasoncarousel

This past week, the week ending July 1, 2018, the Broadway box office demonstrated an overall decrease in ticket sales.  With mid-summer officially underway, the Tony Awards buzz is a thing of the past, and few new shows are entering the scene.  Among the 33 shows that were running this past week, 12 saw a generally small increase in ticket sales, and 21 saw a decrease.  The biggest decrease was seen by Springsteen on Broadway, which saw its usual fluctuation between its 4-performance and 5-performance weeks.  This past week, it went down by $482,073, bringing it to a weekly gross of $1,929,003, or 101.1% of gross potential.  The next biggest decrease was seen by Carousel, which went down by $194,722 to reach a weekly gross of $912,092, representing 56.2% of its gross potential.  In addition, School of Rock went down by $91,112 to reach a weekly gross of $957,664, which represents 66.3% of gross potential.  Even Once on This Island, which won the Tony Award for Best Revival of a Musical, went down by $90,688 to reach a weekly gross of $595,727, which represents just 75.2% of gross potential.  Furthermore, Summer went down by $83,049 to reach a weekly gross of $949,959, or 65.3% of gross potential, Hello, Dolly! went down by $80,757 to reach a weekly gross of $877,768, or 64.0% of gross potential, Beautiful went down by $70,848 to reach a weekly gross of $713,307, or 64.4% of gross potential, Come From Away went down by $70,332 to reach a weekly gross of $1,153,172, or 91.5% of gross potential, and SpongeBob SquarePants went down by $70,272 to reach a weekly gross of $937,090, which represents 66.5% of gross potential.

Tony Winners See Negligible Increases at the Box Office

the band's visitIn past years, the Tony Award winner for Best Musical has seen an immediate effect, with the box office revenue soaring into the skies.  This year, the response to The Band’s Visit has been slightly more muted, but the revenues are still reaching new heights.  This past week, The Band’s Visit saw an increase of just $24,612 to reach a weekly gross of $1,112,169.  This is the highest weekly gross that production has seen to date.  Starting the week after the Tony Awards, the box office broke the $1 million mark, and it has increased since then, little by little.  The previous week, the box office was $1,087,557, and the week before that, the gross was $1,069,845.  This past week’s gross of $1,112,169 represents 108.55% of its gross potential, which is also the highest of the run to date.  As for the Best Play winner, Harry Potter and the Cursed Child, that show saw a box office increase this past week of just $2,723, bringing it to a weekly gross of $2,242,920, or 112.8% of its gross potential.  Therefore, while on the surface it seems like the increase has been negligible, the truth is that Harry Potter has been bringing in well above its gross potential for the majority of the run.  As for the winner for Best Revival of a Play, Angels in America, that show went up by just $42,198, which is the smallest increase since the Tony Awards win.  Still, the show has demonstrated an increase little by little, and this last week’s gross was the highest yet of the run at $1,139,835, which represents 83.69% of its gross potential.

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With over 20 years experience in the Broadway field, including show marketing, production, development and investment, Jennifer R Jones is an all-around subject-matter-expert in the Broadway business. She lives in Manhattan with her husband and her iMac and tries to see at least five Broadway shows per week and when time will allow, will sneak in a daytime TV production for fun.
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