What's Happening?
The Broadway revival of 'Art', featuring James Corden, Neil Patrick Harris, and Bobby Cannavale, has achieved a significant milestone by grossing $1.2 million in its first week of eight performances. This impressive debut places the play as the fifth highest-grossing show in the industry for the week. Despite being in previews, 'Art' played to 97% capacity with an average ticket price of $162. In contrast, the musical 'Just In Time', a biomusical about Bobby Darin starring Jonathan Groff, continues to perform strongly with an average ticket price of $214. Meanwhile, 'Cabaret' has experienced a downturn, with its weekly gross falling to $380,000, marking its lowest since previews began in April 2024. The production is set to close earlier than planned on September 21 due to lead actor Billy Porter's withdrawal from the show because of a serious illness.
Why It's Important?
The financial performance of Broadway shows is a critical indicator of the industry's health and audience preferences. 'Art's' strong debut suggests a robust interest in high-profile revivals, particularly those featuring well-known actors. Conversely, 'Cabaret's' early closure highlights the challenges productions face when key cast members are unable to perform, impacting ticket sales and overall profitability. The contrasting fortunes of these shows underscore the competitive nature of Broadway, where audience engagement and star power can significantly influence a production's success. The ongoing success of 'Hamilton' and 'Wicked' further illustrates the enduring appeal of established hits, which continue to dominate the box office.
What's Next?
As 'Art' prepares for its official opening on September 16, its continued performance will be closely watched to see if it can maintain its strong start. The early closure of 'Cabaret' may prompt producers to reassess casting and marketing strategies to mitigate risks associated with unforeseen cast changes. Additionally, the transition of the Booth Theatre to Scott Rudin's 'Little Bear Ridge Road' will be an opportunity to observe how new productions fare in the current Broadway landscape. The industry will also be monitoring the impact of these developments on future ticket pricing and audience attendance trends.
