Don't Worry, It's Happened Before!

Ok, so now that you all know my reasons for creating this blog, I though I’d make it clear, that what Broadway’s going through now—it’s not the first time.  It’s happened before, and we have to understand that the state of the economy is going to improve eventually. 

A good example is the recession of 1990-1991.  The U.S. was experiencing an economic crisis.  Yeah, maybe it wasn’t quite as bad as the current recession, but it followed a similar pattern.  In 1992, the recession was finally starting to improve, and Broadway, which was affected by the economy like it is now, was on the rise.  Many of the theater, which had remained dark for way too long, were starting to light up again.  Producers were willing to take risks again, and 22 shows were scheduled to open within a three-month period—“nearly as many as opened in the entire 1990-91 season.”  Not only was there a sudden boom of activity on Broadway, but these shows that were opening boasted huge names, such as Alan Alda and Al Pacino.  It seems that the producers were hoping that the actors, if not the shows themselves, would fill the audiences that had been empty for the past few years.

However, Broadway was far from back to normal.  Most shows on Broadway are sponsored by large corporations—in fact, ticket sales almost never cover the production expenses of producing a full-scale Broadway show.  They rely on sponsors and philanthropy to make up the difference (more to come on this topic in a future post). 

But in 1992, so soon after the economic recession, many corporations were unwilling to risk their money on shows that ran such a high risk of failing.  Instead, non-profits such as the Lincoln Center rented out Broadway theaters to fill their growing needs.  At least they were filling the Broadway Theaters, but it shows that Broadway, at least as a commercial enterprise, still needed some improvement. 

But as we all know, the economy improved, America worked its way out of the recession, and Broadway went back to being the country’s theater center.  We just have to hope that history repeats itself, and Broadway goes back to being the vibrant and successful institution that we all remember.