How and why ‘Hamilton’ will be the world’s next Billion Dollar Musical

 

Carleigh Bettioand (from left) Lin-Manuel Miranda, Leslie Odom Jr. and Anthony Ramos in Hamilton (PHOTO: Joan Marcus)
Carleigh Bettioand (from left) Lin-Manuel Miranda, Leslie Odom Jr. and Anthony Ramos in Hamilton (PHOTO: Joan Marcus)

“Just how many Hamiltons can “Hamilton” make? Broadway’s new blockbuster has only been open for 10 months, but already, this hip-hop musical about America’s founding fathers is one of the great successes in recent theatrical history.”

So begins a fascinating NYTimes look at how “Hamilton” is poised not only to win a record-breaking number of Tony Awards Sunday (June 12, 2016), but even beat out Disney’s “The Lion King” as well as “Phantom of the Opera,” each of which claims to have grossed more than $6 billion worldwide. “Wicked” which passed the $4 billion mark in 12 years, according to the Times, predicting  “Hamilton” may do it in 10.

The Broadway version, having paid back investors it’s $12.5 million investment months ago, now is making an estimated $600,000 a week in profit, and will launch touring productions in Chicago in September and in San Francisco in March. The hip-hop aspect may make it a hard sell in foreign countries, though. In other words, will it  translate?

 

A few facts from feature article to gnaw on:

Number of seats at the Richard Rodgers Theatre: 1,321

Average ticket price week ending June 5: $172

Average resale on StubHub: roughly $872

Premium seating: was $475 per ticket; increased to a record $849

Daily number of $10 lottery tickets: increased from 21 to 46, starting in January

Weekly ticket gross: $1.9 million

Average resale of “Hamilton” tickets on StubHub: about $872, a markup of $700

Ticket sellers and brokers:  estimated reap  $60 million per year

Proceeds from music sales: roughly $11 million in gross retail sales

Price of some July 9, 2016 tickets:  Reportedly Lin-Manuel Miranda’s final performance, are being hawked by resellers for up to $9,998 on Ticketmaster. That date has not been confirmed as of June 9.

To read the complete article, click here.

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News and views of New Jersey's regional theaters, and bits about Broadway.

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