By Jennifer R Jones | Posted on March 30, 2017 5:12 PM
Its no secret that Broadway shows with the financial backing from celebrities have a poor rate of success as the show may be more about their ego than art
Broadway can be alluring to celebrities who fancy themselves to be great actors, directors, or producers on the Great White Way. The reality is that Broadway can be a very tough industry in which to excel, and the difference between a total success or abject failure can be just a few percentage points. Those who may not have the cojones to actually get on the Broadway stage eight times a week (and the discipline to continue this for many months) have the opportunity to be involved at other levels. One of the more popular ways for a big celebrity to become involved in a Broadway show is as producer. Although this role brings little risk to their brand in terms of critical response, it can be a huge risk if they become an investor, which is often the case.
Every year, many quality Broadway shows close due to not earning enough ticket revenue to cover their costs. Putting on a show is an expensive proposition, and finding a way to consistently get audience members in seats can be a significant struggle. When a celebrity fantasizes about contributing to Broadway, it can come in many forms, but typically as a show producer. The venture usually does not result in success. Below are some of the many examples of celebrities trying their hand in Broadway ventures, and how those ventures ultimately turned out. Most have become cautionary tales.
Rosie O’Donnell and Taboo

George Takei and Allegiance

Sting and The Last Ship

Gloria Estefan with On Your Feet!

Gloria Estefan’s jukebox musical opened up to strong box office numbers in its Broadway debut on October 5, 2015, grossing $970,013 in its first seven preview performances. Since the show’s strong opening, the show has fallen back to earth and is consistently among the bottom of the pack in Broadway attendance capacity. For the month of March 2017 (up until the week ending March 26th), the show operated at just 61% average capacity. Despite the low attendance numbers, the show still manages to generate a decent amount of gross revenue, even with an average ticket price of about $78 (an average price ranking among the bottom third of Broadway shows). The show is still managing to stay afloat and has opened up blocks of tickets for sale all the way through January 2018. On February 7, 2017, the producers of the show - James L. Nederlander, Estefan Enterprises, Inc., and Bernie Yuman - announced that On Your Feet! will launch a traveling tour for fall 2017, which would normally signal a show closure, but not in this case; the touring show may ultimately turn a profit. It is unclear how much money Estefan is pumping into the Broadway version of the show to keep it alive, but as every Broadway producer knows, like a Latin Tasmanian Devil, things can only get worse over time.
When a Celebrity Becomes a Broadway Producer

A Broadway show is an interesting medium for investment. The allure of live acting holds a special place for the viewer, and it is a form of art very different from what most people experience through watching acting in a movie or on a television screen. There are no breaks during the acting, no camera tricks, and actors do not have the luxury of do-overs if they make a mistake. The live performance of Broadway presents a truly unique experience for both the actors and the theatergoers. It is in this environment that a business must also operate, and celebrities will often confuse art with business to disastrous results. Huge fortunes have been lost in Broadway ventures that do not pan out, and it is arguable that Broadway could be the worst financial investment anyone could make, as only 20% of shows ever turn a profit - that is, if you only judge the success of a show by its bottom line.