If you want to assess the fallout from the Tony Awards, it’s useful to think of Broadway shows as stocks with their average ticket price as an indication of what they are trading at. For example, for the week ending June 9, the box-office blue chip was “The Book of Mormon” with an ATP of $197.37. Sticking with just musicals, the straggler was the long-running “Chicago,” at $79.66. As grosses are published weekly, the full effect of the Tonys will not be known until next week’s “ticker.” But the producers of “Kinky Boots,” which took home the Best Musical Tony, are feeling fairly sanguine; they boasted that the show took in over $1.25 million in ticket sales in the 24-hour period following the telecast, upping its advance sales to over $10 million. Last week, before its win, it’s ATP was at an impressive $123.43. That is likely to grow in the following weeks.
“Matilda,” which was its main competitor, won four and upped its usual daily take by $200,000, according to its publicist. A consolation for its loss is that it has a more than $21 million advance. Still, trading at $99.35, it’s losing the ATP contest to “Kinky Boots.” What affects the ATP — the reason why “Mormon” is at nearly $200 — is the pressure for “premium seats,” which increases as a show becomes a “hot” ticket. “Kinky Boots” premium is priced at $227; “Matilda”’s is $250. They are in similarly sized houses. (The Al Hirschfeld and Shubert Theatres both have a total of about 11,400 seats to sell on a weekly basis.)
On the other hand, “Pippin,” which took home the Best Revival Tony plus three more, is in a much smaller house, the Music Box (7,920 seats per week). It has been trading at $117.68 ATP. But you can expect that number to rise as people snap up its $225 premium seats. The show’s musical number on the Tony telecast was widely considered to be one of the best. It’s blend of dazzling circus arts and soaring melodies by top composer Stephen Schwartz (“Wicked”) is almost certain to push this musical into Broadway’s million-dollar club.
Of course, this is all predicated on enthusiasm generated in the immediate aftermath of Tony telecast. (It’s ratings were up by 20 percent, the best since 2009, thanks in part to its genial host, Neil Patrick Harris, and the presence such unexpected guest stars as Mike Tyson.) Michael Riedel, the veteran Broadway observer and host of the TV program “Theater Talk,” recently speculated that the show that may have made the best long-term gain from the Tonys was “Motown,” which went home empty-handed. It has been this season’s juggernaut (it took in nearly $1.4 million last week with an ATP of $115.00.) Unlike in seasons past, when only shows nominated for Best Musical were allowed extended exposure on the telecast, “Motown” was given ample time to strut its wares, including a medley of songs from the catalogue of the legendary pop label. Complementing the exposure on the actual telecast was a bombardment of ads presenting even more songs from the show.
Dramas invariably lag behind musicals. But this season was an exception. The two hottest tickets in town are star-driven. Tom Hanks, in his Broadway debut in “Lucky Guy,” has upped its ATP to $141.25, a figure likely to grow as the limited engagement moves towards its conclusion on July 2. Bette Midler is powering her solo show, “I’ll Eat You Last,” to record-breaking grosses, even though the Tony nominators chose to ignore it altogether. Its ATP, at $145.89, is even higher than the one for “Lucky Guy.” Premium tickets ($298) for the limited engagement (it ends on June 30) are, well, at a premium. The show recouped its $2.4 million investment May 30 and is now raking in buckets of profits. It is likely to be made into an HBO special and Midler will no doubt be a frontrunner for an Emmy Award for her hysterically funny turn as super-agent Sue Mengers.
As the Divine Miss M might herself say, “Who needs a Tony?”
Photo by Joan Marcus