In its first season without major COVID-19 disruptions, attendance and total grosses saw notable growth to near pre-pandemic levels.
. Original shows continue to lag, as many audience members gravitate toward known intellectual property rather than new material since the pandemic.
Grosses are down about 13 percent from the record 2018-19 season but down only 7 percent from the year before that.
The numbers show “unbelievable progress” for the industry, considering how quickly it went from no income during the theatrical shutdown to $1.6 billion, says Ken Davenport, a producer on the Neil Diamond biomusical, which opened this past season. He notes, though, that the cost of productions continues to increase thanks to inflation, which means that Broadway totals also need to rise. “We need to continue to grow the industry every year,” he says.
As a greater portion of the international audience returns, and audiences get back into the habit of going to the theater , there’s belief that the industry will be able to make a full rebound next season. Says Davenport, “It will get better and better, and we’ll hit $2 billion soon enough.”This story appears in the May 31 issue of The Hollywood Reporter magazine.
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