Culture
2024-05-20-broadway-attendance-nears-normality

Despite April audience boost, many Broadway shows struggle to break even

While the pandemic drew the curtain on live musical theater for some time, so far this year, Broadway seems to be successfully calling back audiences.

Musical chairs

Despite reports that NYC’s hallowed stages and theater halls are stalling, weekly attendance figures from The Broadway League via IBDB show that April was actually pretty strong for audience turnout, averaging just under 300K attendees per week — up ~20% from the the same period in 2022 and only ~6% less than in 2019.

Although cumulative annual attendance for the 2022-23 season was still down ~17% from its pre-pandemic peak, a flurry of new show openings in April — including 12 premieres in the space of just 9 days — drove figures up to levels that may suggest a return to (show) business as usual.

Setting the stage

April typically sees a bump in Broadway attendees, since the deadline for the Tonys at the end of the month brings a deluge of show openings in a rush to qualify for the awards.

However, notwithstanding more spectators in seats than most other post-pandemic months, this April’s launch frenzy came against a backdrop of skyrocketing operating costs. Indeed, many Broadway productions now take months to break even — if they do at all — and limited, star-studded shows have, in many cases, overtaken musical mainstays in turning a profit.

In result, the turnover rate for shows in the 41 theaters comprising Broadway is now much higher, and, as such, the continuation of NYC’s Covid-originated theater tax subsidy program — which has given more than $100M to commercial Broadway giants like Disney’s The Lion King over the last 3 years — is in the spotlight for neglecting nonprofit productions.

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Saleah Blancaflor

Prediction markets show “One Battle After Another” leads in Oscar race for Best Picture

It’s finally Oscars week — and with voting officially closed, all that’s left to do is count the ballots and wait to see who wins this Sunday night. 

This year, the acting categories have been the most interesting to watch, especially the showdown between “Marty Supreme” star Timothée Chalamet and “Sinners” actor Michael B. Jordan for Best Actor. While Chalamet was long the favorite, Jordan has caught up and overtaken him after winning the Actor Award.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

But perhaps the most exciting race of all is for Best Picture. Out of the 10 nominees, the two at the top are Paul Thomas Anderson’s “One Battle After Another” and Ryan Coogler’s “Sinners,” both of which are studio releases from Warner Bros. Discovery

Which will win the top prize seems to be split among award pundits and experts. As of Monday afternoon, Gold Derby still has “One Battle After Another” as the front-runner with odds of 76.87%. AwardsWatch, AwardsRadar, and Numlock Awards are also still predicting that “One Battle After Another” will take the statue for Best Picture.

On the other side, reporters from some major trade publications like Variety’s Clayton Davis and The Hollywood Reporter’s Scott Feinberg predict that “Sinners” will take the top honor.

Odds in the prediction markets currently show that “One Battle After Another” is still ahead of “Sinners,” with the former priced in at 75% while the latter is priced at 23%.

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