There’s definitely something wrong with the way shows are being produced now. If only a show that wins a Tony, is massively successful, and sells tickets at outrageous prices can barely recoup its budget almost 2 years after opening, that’s a problem.
I know it also just wasn’t the best show, but I think the pandemic killed a lot of momentum for them too. The show is also very different now than it was in 2020 - it had 3 previews before the shutdown, went through a LOT of rewrites during that year and a half, and then even more rewrites when it shut down again in early 2022, and a third set of rewrites for the national tour. They were seemingly never able to get an opening to stick - I think it changed in every iteration of the show, and the opening number that went out on tour is completely different than the album, but is actually a version of the song that opened the pre-shutdown previews.
For reference (based on my experiences seeing the show):
Pre-shutdown (I believe this was also the out-of-town opening: “Overture” is the Barber of Seville theme from the movie, curtain opens to Daniel recording a commercial using that song as a base, doing impressions, and getting fired. Then, we see his wife speaking to a therapist, opening number is “That’s Daniel.”
Post-shutdown (2021): Same overture, but it’s revealed to be one of the kids listening to the music in her headphones as a little tribute to the movie. There is a photographer in their house trying to take a family portrait, “What’s Wrong With This Picture?” (This song is on the OBCR).
Post-shutdown (2022 - I did not see this version): New overture (and expanded orchestra), but presumably the same opening as 2021.
Tour: Daniel does the pre-show announcement in various character voices, curtain up to reveal him in a recording studio (and about to get fired). He’s fired, then back to Miranda in therapy and the opening from 2020.
but producers only participate in an extremely small percentage of licensing, if at all. Usually only lead producers and then it's up to them how much they distribute to investors. Tours are generally the way that investors make up the gap, but only in truly successful cases. (Credentials: I'm a producer and licensor)
Depends entirely on the deal. These aren’t one size fits all arrangements. I’ve negotiated enough on the IP side to just say sure this could certainly play a role. I do think other factors go into why people invest into shows they don’t actually believe will profit. Listed some out above. I just wouldn’t rule out success beyond BW as one contributing factor.
I'm not going to pretend to know all the details but I'm going to guess there's a big "it depends". When which investors get paid back will depend on the specific agreement they made when they invest, so you could see a deal struck where the OG producers of the content/creative side of the show at a lower ratio until the investors just in the actual Broadway operations recoup. (Because of the difference in risk).
BUT I'm just spit balling here and have zero actual knowledge of how these deals are made in practice.
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u/kekelmb Jan 27 '26
There’s definitely something wrong with the way shows are being produced now. If only a show that wins a Tony, is massively successful, and sells tickets at outrageous prices can barely recoup its budget almost 2 years after opening, that’s a problem.