WEBVTT - The New Economics of Broadway 0:00:02.800 --> 0:00:10.320 Bloomberg Audio Studios, podcasts, radio news. On Sunday, Broadway's top 0:00:10.360 --> 0:00:13.320 build players will gather at Radio City Music Hall in 0:00:13.360 --> 0:00:16.000 New York for the Tony Awards, one night a year 0:00:16.000 --> 0:00:19.200 where everyone can experience the magic of Broadway. For nearly 0:00:19.239 --> 0:00:22.520 eight decades, the Tonys have celebrated the biggest shows of 0:00:22.520 --> 0:00:26.520 the season, and this year the biggest shows are bigger 0:00:26.560 --> 0:00:29.720 than ever, at least when it comes to ticket sales, 0:00:30.440 --> 0:00:33.839 with audiences paying top dollar to see star studded shows 0:00:33.920 --> 0:00:36.360 like Othellow, good Night, and good Luck and The Picture 0:00:36.400 --> 0:00:39.879 of Dorian Gray. An industry trade group called the Broadway 0:00:39.960 --> 0:00:43.000 League reported that this season has brought in nearly one 0:00:43.040 --> 0:00:46.760 point nine billion dollars, making it the highest grossing in 0:00:46.840 --> 0:00:48.280 Broadway recorded history. 0:00:48.720 --> 0:00:52.160 The top end of the ticket prices going like higher 0:00:52.200 --> 0:00:54.040 and hire and hire. I don't know if that's going 0:00:54.120 --> 0:00:55.840 to stop. They have to make money. 0:00:56.040 --> 0:00:59.360 That's Chris Rouser. He's the editor of Bloomberg Pursuits, which 0:00:59.440 --> 0:01:03.360 covers the arts, culture and luxury, and Chris says the 0:01:03.360 --> 0:01:07.000 theater is becoming more of a luxury because now more 0:01:07.000 --> 0:01:09.600 than ever, it costs an arm and a leg to 0:01:09.800 --> 0:01:12.840 break a leg on Broadway. In such a high risk, 0:01:12.959 --> 0:01:16.440 high reward industry, producers have been rethinking what it takes 0:01:16.480 --> 0:01:19.360 to make a hit show, and that business model shift 0:01:19.440 --> 0:01:22.360 is affecting everything from ticket prices to the kind of 0:01:22.400 --> 0:01:25.919 work audiences from all over the world see on stage. 0:01:26.319 --> 0:01:29.720 You have to be not afraid to take a risk. 0:01:30.480 --> 0:01:33.280 I think this business is very risky, and you know, 0:01:33.360 --> 0:01:36.400 when talking to young producers as well as talking to investors, 0:01:36.720 --> 0:01:38.960 I'm very honest about the risks involved. 0:01:39.160 --> 0:01:41.720 Kind of the conventional wisdom on Broadway in particular and 0:01:41.720 --> 0:01:45.160 commercial theater at large is it's very challenging to make 0:01:45.200 --> 0:01:46.679 a living, but you can make a killing. 0:01:49.000 --> 0:01:52.000 I'm Sarah Holder today on the show The Big Take 0:01:52.160 --> 0:01:57.120 Goes to Broadway. I sit down with Bloomberg's Chris Rouser 0:01:57.280 --> 0:02:00.640 and speak with two Tony Award winning producers, Darryl Roth 0:02:00.680 --> 0:02:04.880 and Lucas Catler, about the economic realities changing the theater biz, 0:02:05.160 --> 0:02:07.960 what it means for tourism, for our and for what 0:02:08.000 --> 0:02:14.760 you pay at the box office. The economics of Broadway 0:02:14.960 --> 0:02:17.760 have always been tricky. It's basically the whole plot of 0:02:17.800 --> 0:02:21.400 the Producers, where Matthew brodericks Leo bloom helps cook up 0:02:21.440 --> 0:02:25.120 an unconventional plan to make it in the theater business. 0:02:25.400 --> 0:02:27.919 One of the right circumstances, a producer could make more 0:02:28.000 --> 0:02:30.680 money with a flop than he could with a hit. 0:02:30.919 --> 0:02:33.519 It's expensive and it's maddening, and it takes a lot. 0:02:33.360 --> 0:02:36.120 Of luck, just like in the producer exactly. 0:02:36.600 --> 0:02:39.120 But I wanted to ask you why is it so 0:02:39.320 --> 0:02:43.680 hard to mount a financially successful Broadway show today? 0:02:44.520 --> 0:02:48.040 The problem today is that costs are extraordinarily high. They're 0:02:48.120 --> 0:02:50.680 higher than they have ever been before. So the carrying 0:02:50.760 --> 0:02:55.119 costs from week to week are really just very hard 0:02:55.160 --> 0:02:57.880 to get over. Union labor. Almost everyone that works on 0:02:57.919 --> 0:03:00.760 a show is union, and they have a lot of protections, 0:03:00.840 --> 0:03:05.000 especially after the pandemic, so those costs are high. The 0:03:05.000 --> 0:03:07.760 theater rent for the limited number of Broadway theaters there 0:03:07.760 --> 0:03:11.200 are is a single digit percentage of ticket sales, so 0:03:11.280 --> 0:03:13.639 that's a big chunk. You've got sets, you've got marketing, 0:03:13.639 --> 0:03:15.440 you've got all that stuff, So that actually adds up 0:03:15.480 --> 0:03:18.800 to an almost prohibitive base level that you have to 0:03:18.880 --> 0:03:22.040 clear in order to recoup your investment, which means it 0:03:22.040 --> 0:03:23.280 gets back to net zero. 0:03:23.880 --> 0:03:27.320 Labor costs rent for a theater, materials to build sets 0:03:27.320 --> 0:03:30.160 and hang lights, promos and advertisements. 0:03:30.520 --> 0:03:33.360 It adds up now to produce a play on Broadway. 0:03:33.960 --> 0:03:36.400 You know, the budgets can be anywhere between. I would 0:03:36.440 --> 0:03:39.720 say six and ten million dollars. On the high side, 0:03:40.240 --> 0:03:42.720 a musical is now twenty twenty five million. 0:03:43.960 --> 0:03:46.760 Daryl Roth has produced more than one hundred and thirty 0:03:46.760 --> 0:03:50.200 shows on and off Broadway since the eighties, including Tony 0:03:50.240 --> 0:03:54.720 Award winning plays like august Osah County Warhorse and Paula Vogels. 0:03:54.760 --> 0:03:57.680 In decent thirty years ago, you could produce a play 0:03:57.840 --> 0:04:02.560 for under four million dollars and have all the soups 0:04:02.600 --> 0:04:05.320 and nuts and desserts that you need to make it work. 0:04:06.640 --> 0:04:08.800 Daryl is one of the producers behind one of this 0:04:08.880 --> 0:04:13.360 season's buzziest tickets, The Picture of Dorian Gray. It's a 0:04:13.400 --> 0:04:17.239 play based on the Oscar Wild novel and stars Sarah Snook, 0:04:17.520 --> 0:04:21.160 who you might know from Succession on HBO. How much 0:04:21.240 --> 0:04:24.240 did The Picture of Dorian Gray cost to mount. 0:04:24.480 --> 0:04:25.760 It was a round eight million. 0:04:26.520 --> 0:04:29.440 The goal for a producer is to recoup that investment, 0:04:29.839 --> 0:04:33.920 something that's easier said than done. Lucas Catler, who's produced 0:04:33.960 --> 0:04:37.040 Broadway musicals like Merrily We Roll Along and Hear Lies 0:04:37.120 --> 0:04:40.400 Love says that's what makes bringing a show to Broadway 0:04:40.600 --> 0:04:43.960 such a financial high wire act. When we spoke with him, 0:04:44.040 --> 0:04:46.279 he was inside a theater in London in the middle 0:04:46.279 --> 0:04:48.680 of rehearsals for a new musical. He's producing. 0:04:49.160 --> 0:04:51.560 Even the best shows, the ones that win Best Musical 0:04:51.560 --> 0:04:54.240 and like really break through and find an audience, a 0:04:54.240 --> 0:04:57.080 lot of times those shows don't even make money, and 0:04:57.120 --> 0:04:58.799 so like a strange loop is actually a great example 0:04:58.839 --> 0:05:00.279 of a show that I didn't work on them Badway. 0:05:00.279 --> 0:05:02.800 I worked on off Broadway. But it's by all accounts 0:05:03.040 --> 0:05:07.160 extreme critical success and a really well regarded piece of art. 0:05:07.360 --> 0:05:10.160 But they haven't recouped on Broadway, for example, I mean 0:05:10.160 --> 0:05:10.880 they closed early. 0:05:11.560 --> 0:05:14.400 When you got your start in the industry, what was 0:05:14.560 --> 0:05:18.560 the conventional wisdom that other producers shared with you about 0:05:18.560 --> 0:05:20.800 the path to success on Broadway? 0:05:21.560 --> 0:05:25.280 I would say, writ large that it's very challenging. One 0:05:25.320 --> 0:05:28.520 in five shows will make their money back on Broadway, 0:05:29.160 --> 0:05:34.200 meaning a lot of producers will hopefully produce shows on 0:05:34.240 --> 0:05:37.480 Broadway that will Like you know, limited run plays will 0:05:37.760 --> 0:05:40.960 in the best case of success, return ten twenty percent 0:05:41.000 --> 0:05:45.279 to investors. Whereas musicals, you really want to get a 0:05:45.279 --> 0:05:47.920 long running musical that will then be a big hit 0:05:47.960 --> 0:05:50.839 and be able to sustain your ability to create other 0:05:51.000 --> 0:05:53.520 work as well. So it's a high risk, high reward 0:05:53.560 --> 0:05:57.480 business and that's been the mo for Feeder since its 0:05:57.600 --> 0:06:02.040 inception in America, but also really really specifically on Broadway today, 0:06:02.080 --> 0:06:05.320 particularly because the margins are really tight between how much 0:06:05.320 --> 0:06:07.279 a cost to run a show and how much money 0:06:07.320 --> 0:06:09.240 you can make in the box office. I'm still a 0:06:09.279 --> 0:06:13.240 young career producer, but like still developing musicals with the 0:06:13.440 --> 0:06:16.200 hope to ultimately make a killing one day. But for now, 0:06:16.240 --> 0:06:21.080 it's like there's no real avenue to make a steady 0:06:21.120 --> 0:06:24.160 income without having a show that's long running. 0:06:24.680 --> 0:06:29.080 People are always swinging for those big runaway hits, those Hamilton's, 0:06:29.360 --> 0:06:33.359 those wickeds, which make the eighty percent of shows that 0:06:33.400 --> 0:06:35.920 don't recoup kind of worth the gamble. 0:06:36.080 --> 0:06:39.000 But Chris says it is a gamble. The New York 0:06:39.040 --> 0:06:42.080 Times reported that four of the fourteen new musicals that 0:06:42.160 --> 0:06:45.960 open the season have already closed or set closing dates. 0:06:46.279 --> 0:06:50.120 It's gotten harder to find investors because you know, statistically 0:06:50.600 --> 0:06:52.360 most things don't recoup. 0:06:52.240 --> 0:06:55.320 And Daryl Ross says that's led to a big shift 0:06:55.480 --> 0:06:56.159 on Broadway. 0:06:56.640 --> 0:06:59.560 I think the trend now which we didn't see as 0:06:59.680 --> 0:07:03.039 much when I began my career is the star vehicle. 0:07:03.520 --> 0:07:08.320 The star vehicle like Dorian Gray starring Sarah Snook or 0:07:08.400 --> 0:07:12.960 Othello featuring Denzel Washington and Jake Jillenhall, or good Night 0:07:13.080 --> 0:07:16.400 and good Luck, directed by George Clooney, who also plays 0:07:16.400 --> 0:07:19.520 the lead. These plays tend to run for a limited 0:07:19.520 --> 0:07:23.280 amount of time based on the actors availability, and Darryl 0:07:23.360 --> 0:07:26.400 says it's a model that can help bring in early funding. 0:07:27.160 --> 0:07:31.600 Both investors and producers can feel that there's less risk 0:07:32.240 --> 0:07:35.080 based on the appeal of the star we're talking about, 0:07:35.600 --> 0:07:38.760 and so it's easier to get investors to come along 0:07:38.840 --> 0:07:39.520 on the journey. 0:07:40.120 --> 0:07:43.520 It can also be easier to get audiences into theaters. 0:07:43.760 --> 0:07:47.880 Othello gross three point five million dollars last week. Glengarry 0:07:47.920 --> 0:07:51.280 Glenn Ross featuring Kieran Culkin, Bob Odenkirk and Bill Burr 0:07:51.560 --> 0:07:54.320 made around two million dollars, around the same amount as 0:07:54.360 --> 0:07:56.360 The Lion King, which has been running for more than 0:07:56.360 --> 0:08:00.200 twenty five years. Dorian Gray brought in nearly one and 0:08:00.240 --> 0:08:00.920 a half million. 0:08:01.360 --> 0:08:03.560 Goodnight in good Luck, which is on Broadway right now 0:08:03.680 --> 0:08:06.320 starring George Clooney has a big cast and is an 0:08:06.360 --> 0:08:09.480 expensive show, but it broke four million a week in 0:08:09.680 --> 0:08:12.360 ticket sales, which is a record, and that's a crazy 0:08:12.360 --> 0:08:13.040 amount of money. 0:08:13.680 --> 0:08:15.840 Part of the reason it's making that much money is 0:08:15.880 --> 0:08:18.280 because a seat at good Night and good Luck can 0:08:18.360 --> 0:08:22.200 run you between about two hundred dollars and nine hundred dollars. 0:08:23.480 --> 0:08:26.760 How the new economics of Broadway are landing with audiences. 0:08:27.640 --> 0:08:38.559 That's after the break. It's harder than ever to succeed 0:08:38.679 --> 0:08:42.840 on Broadway without really trying or even trying a lot. 0:08:43.320 --> 0:08:47.120 Bloomberg's Chris Rouser says that's pushed Broadway producers towards a 0:08:47.160 --> 0:08:50.320 few different categories of material, the kinds of shows that 0:08:50.360 --> 0:08:54.560 are considered an easier sell for audiences and investors. We 0:08:54.600 --> 0:08:58.480 talked about the limited engagement run starring a celebrity. Then 0:08:58.640 --> 0:09:00.000 there's the jukebox music. 0:09:01.000 --> 0:09:03.480 Musicals are the hardest thing to produce and make succeed, 0:09:03.520 --> 0:09:05.240 and so if you can build a musical based on 0:09:05.280 --> 0:09:10.000 an artist's catalog like Share or Bobby Darren is one 0:09:10.080 --> 0:09:10.520 right now. 0:09:10.679 --> 0:09:14.880 Tony Award winner Jonathan Groff is Bobby Darren in justin Time. 0:09:14.840 --> 0:09:16.360 That has a built in audience. So that's sort of 0:09:16.400 --> 0:09:19.160 viewed as safe. And then there's like existing ip so 0:09:19.360 --> 0:09:22.839 like The Notebook, Back to the Future, Harry Potter, It's 0:09:22.880 --> 0:09:26.160 the Wizarding World on the Great White Way. These things 0:09:26.160 --> 0:09:28.960 that also have big audiences built in and feel less 0:09:29.080 --> 0:09:31.480 risky to audiences and producers. Those are kind of the 0:09:31.480 --> 0:09:34.640 three things that we feel like all the news shows 0:09:34.920 --> 0:09:37.160 are like that, and honestly, that can be tiring. 0:09:37.800 --> 0:09:40.400 Whiches aren't getting picked up in this formula, Like which 0:09:40.520 --> 0:09:43.440 kind of productions does this shut out? 0:09:44.080 --> 0:09:47.319 I mean it shuts out a lot of original musicals. 0:09:47.360 --> 0:09:50.120 It's very expensive to put on an original musical or 0:09:50.160 --> 0:09:52.920 any musical, and it's very risky. You know, it's can 0:09:52.960 --> 0:09:55.959 be twice as expensive as a play. So there's only 0:09:56.000 --> 0:09:58.800 a couple new like sort of really new musicals that 0:09:58.840 --> 0:10:01.680 are on Broadway this season. And then people are very 0:10:01.720 --> 0:10:06.120 familiar with Shakespeare Tennessee Williams. You see a lot of 0:10:06.120 --> 0:10:08.840 that sort of like Western canon stuff come back and 0:10:08.880 --> 0:10:11.319 back and back. Lately, it doesn't feel like you see 0:10:11.360 --> 0:10:14.240 a ton of new artists or artists of color, or 0:10:14.360 --> 0:10:17.080 artists from a different background international, So yeah, I can 0:10:17.120 --> 0:10:19.880 feel like that stuff is being squeezed out it's. 0:10:19.720 --> 0:10:21.920 Also driving ticket prices up. 0:10:22.200 --> 0:10:24.960 So you'll generally see a show we'll start with some 0:10:25.160 --> 0:10:28.120 rush tickets or lottery tickets can be quite cheap, and 0:10:28.120 --> 0:10:30.400 then they'll start at fifty nine to seventy nine ninety 0:10:30.480 --> 0:10:33.679 nine dollars and go up into the three hundreds, maybe 0:10:33.720 --> 0:10:36.880 four hundred for premium seats right in the front, and 0:10:36.880 --> 0:10:39.920 that's very expensive. Some of the shows this spring ticket 0:10:39.960 --> 0:10:42.640 costs were eight hundred and nine hundred dollars, and that's 0:10:42.640 --> 0:10:44.920 a result of dynamic ticket pricing, which is the same 0:10:44.960 --> 0:10:48.400 as what airlines use and hotels use to book rooms. 0:10:48.720 --> 0:10:50.920 So it's not a person deciding that this show is 0:10:50.960 --> 0:10:54.240 worth eight hundred dollars, it is ai deciding that people 0:10:54.240 --> 0:10:56.200 will pay eight hundred dollars to see a show. So 0:10:56.240 --> 0:10:59.240 we are breaking records in terms of what some shows 0:10:59.280 --> 0:10:59.800 are making. 0:11:00.160 --> 0:11:02.680 What does it mean for the economy of a city 0:11:02.800 --> 0:11:05.280 like New York, which is built around tourists coming to 0:11:05.360 --> 0:11:09.200 see shows if the average tourists can no longer afford 0:11:09.240 --> 0:11:10.960 a ticket to an average show. I don't know if 0:11:10.960 --> 0:11:11.800 we're there yet, but. 0:11:12.000 --> 0:11:14.360 Yeah, so New York views Broadway is an important part 0:11:14.400 --> 0:11:17.280 of its tourism infrastructure, and when we were coming out 0:11:17.320 --> 0:11:18.960 of the pandemic. The city took a lot of steps 0:11:18.960 --> 0:11:20.760 to try to help Broadway get back on its feet, 0:11:21.000 --> 0:11:23.800 because it's not just people going to Times Square, it's 0:11:23.800 --> 0:11:26.079 not just people who want to come to your show. 0:11:26.240 --> 0:11:28.839 Broadway is part of the appeal of New York and 0:11:29.160 --> 0:11:31.600 when things that get too too expensive and you can't come, 0:11:31.760 --> 0:11:33.880 that makes New York feel expensive, That makes you feel 0:11:33.920 --> 0:11:36.520 like that city is not for me. But nobody wants 0:11:36.960 --> 0:11:38.760 Broadway to be inaccessible for everybody. 0:11:38.920 --> 0:11:40.880 H bristle at the fact that some of the ticket 0:11:40.880 --> 0:11:44.480 prices for premium seats, when you know eight nine hundred 0:11:44.520 --> 0:11:47.079 dollars a ticket, I mean that cannot be the trend. 0:11:47.480 --> 0:11:49.040 Producer Darryl Roth again. 0:11:49.400 --> 0:11:54.320 But interestingly, the average ticket price this year was about 0:11:54.600 --> 0:11:56.200 one hundred and thirty dollars. 0:11:56.640 --> 0:12:00.280 That means those eyebrow raising outliers are actually being and 0:12:00.440 --> 0:12:03.120 out by tickets to shows that have stayed more affordable. 0:12:03.960 --> 0:12:08.120 But whatever the price, audiences keep coming. So far this 0:12:08.200 --> 0:12:11.960 Broadway season, over fourteen point six million people have seen 0:12:12.000 --> 0:12:15.000 a show. It's the first year that's gotten close to 0:12:15.040 --> 0:12:17.440 the industry's pre pandemic attendance levels. 0:12:17.800 --> 0:12:22.040 We've had ninety one percent capacity on Broadway, which is 0:12:22.480 --> 0:12:27.520 really wonderful. So things are looking up, and certainly everybody 0:12:27.559 --> 0:12:31.760 feels excited post pandemic to see Broadway coming back. You know, 0:12:31.840 --> 0:12:36.360 it's it means so much to the city economically, let 0:12:36.360 --> 0:12:38.840 alone those of us that just love the art form. 0:12:39.120 --> 0:12:41.840 It's part of the reason why Daryl says taking all 0:12:41.880 --> 0:12:44.679 those risks we've been talking about can be worth it, 0:12:44.760 --> 0:12:47.920 including supporting shows that don't fit the money making molds 0:12:47.960 --> 0:12:50.040 producers have been leaning on more and more. 0:12:50.400 --> 0:12:52.960 It's hard to say what's commercial and what's not commercial 0:12:53.080 --> 0:12:56.280 before it happens. You know, we've often been really surprised 0:12:56.640 --> 0:12:59.880 by things that we think aren't going to be commercial 0:12:59.880 --> 0:13:03.280 and they are and vice gers. So I say it 0:13:03.320 --> 0:13:06.000 to people, just do what you love and be driven 0:13:06.120 --> 0:13:09.520 by what you respond to in the hope that other 0:13:09.520 --> 0:13:11.640 people will respond to that same story. 0:13:12.160 --> 0:13:14.959 The big example this season is Maybe Happy Ending. Did 0:13:14.960 --> 0:13:15.320 you see it? 0:13:15.400 --> 0:13:15.559 Yes? 0:13:15.640 --> 0:13:18.400 Yeah, Julia Press, our producer, and I actually saw it together. 0:13:18.520 --> 0:13:19.400 Oh loved it. 0:13:19.480 --> 0:13:23.240 Yes, wonderful show. It's very original but actually debuted in 0:13:23.320 --> 0:13:26.840 Korea and then came here and it's a little magical 0:13:26.840 --> 0:13:30.199 show about two robots and a robot retirement home, and 0:13:30.960 --> 0:13:34.000 that alone sort of doesn't necessarily feel like the great 0:13:34.080 --> 0:13:38.280 raw material for a music hall Shakespeare Shakespeare. And it's 0:13:38.280 --> 0:13:40.040 also it's just two people on a stage. It's kind 0:13:40.040 --> 0:13:41.960 of actually, at the root of it, a small story. 0:13:42.240 --> 0:13:44.960 But the music is wonderful, and the set is incredible, 0:13:45.040 --> 0:13:47.160 and the story is lovely, and it just feels so 0:13:47.400 --> 0:13:49.839 fresh and original. I remember, actually I'm getting goosebumps talking 0:13:49.840 --> 0:13:52.920 about it. When I saw it in previews, the set 0:13:53.040 --> 0:13:56.800 broke three times, and even so everybody's sitting there was like, 0:13:56.800 --> 0:13:59.600 we're seeing something. This theater is half full. We don't 0:13:59.600 --> 0:14:01.400 know if anyone's going to come see this show. And 0:14:01.440 --> 0:14:03.720 then had such incredible word of mouth that it just 0:14:03.760 --> 0:14:06.199 built and built and built and built, and now it's 0:14:06.200 --> 0:14:07.840 selling incredibly well you can't get tickets. 0:14:07.960 --> 0:14:11.080 Yeah, yeah, there's such a magic to that. Yes, we'll 0:14:11.120 --> 0:14:14.360 see whether the Tony voters agree. Daryl, of course, is 0:14:14.440 --> 0:14:15.839 rooting for Dorian Gray. 0:14:16.480 --> 0:14:20.080 Certainly, I believe Sarah Snook should win the Best Actress 0:14:20.080 --> 0:14:23.640 in a Play. I have obviously a personal belief in that, 0:14:23.680 --> 0:14:26.400 but I do believe she deserves that honor. 0:14:26.880 --> 0:14:30.480 Meanwhile, the producer Lucas Catler is pulling for Oh Mary. 0:14:31.120 --> 0:14:34.040 I'm seethingly jealous of everyone involved in this show because 0:14:34.040 --> 0:14:37.120 it's like it's doing everything that I love, is such 0:14:37.160 --> 0:14:41.400 a joy and a romp while still showcasing the highest 0:14:41.520 --> 0:14:44.280 level of artistry that theater makers have to offer. 0:14:45.560 --> 0:14:49.680 But whatever happens on Sunday, Darryl says, next Broadway season 0:14:50.040 --> 0:14:52.960 is sure to bring its own surprises. What's next for 0:14:53.000 --> 0:14:53.520 the industry. 0:14:53.840 --> 0:14:58.200 I think that this year has shown producers and audiences 0:14:58.440 --> 0:15:00.440 that you can take a chance on something that might 0:15:00.480 --> 0:15:03.200 be a little unique and out of the norm that 0:15:03.360 --> 0:15:06.840 I hope continues. I'm sure the star vehicles will continue, 0:15:06.840 --> 0:15:10.320 There's no question about that. I think we'll see more 0:15:10.680 --> 0:15:14.160 smaller musicals being mounted, what I like to call chamber musicals. 0:15:14.640 --> 0:15:18.800 And I also think we'll see a trend to plays 0:15:18.800 --> 0:15:21.320 that appeal to a younger audience. Now that this year 0:15:21.360 --> 0:15:25.480 has shown that there is excitement and enthusiasm from you know, 0:15:25.600 --> 0:15:28.880 the younger theater going audience, I think we'll all be 0:15:29.000 --> 0:15:33.880 happy to offer more good fare and keep that audience growing. 0:15:34.360 --> 0:15:36.800 I mean we must, otherwise you know, we'll be out 0:15:36.800 --> 0:15:37.360 of business. 0:15:44.400 --> 0:15:47.320 This is the big take from Bloomberg News. I'm Sarah Holder. 0:15:47.600 --> 0:15:50.600 The show is hosted by Me, David gera Wanja and 0:15:50.640 --> 0:15:54.520 Seleia Mosen. The show is made by Aaron Edwards, David Fox, 0:15:54.680 --> 0:16:00.280 Eleanor Harrison Dungate, Patty Hirsch, Ridgel, Lewis Chrisky, Naomi Julia Us, 0:16:00.560 --> 0:16:05.680 Tracy Samuelson, Naomi Shaven, Alex Dugia, Julia Weaver, Yang Yong 0:16:06.120 --> 0:16:09.720 take Yasazua and Julian Weller. To get more from the 0:16:09.720 --> 0:16:13.000 Big Take and unlimited access to all of bloomberg dot com, 0:16:13.240 --> 0:16:17.520 subscribe today at Bloomberg dot com Slash Podcast offer. Thanks 0:16:17.560 --> 0:16:20.360 for listening. We'll be back on Monday.