The new musicals “Tammy Faye,” “Boop!” and “Smash” each cost at least $20 million to bring to the stage, and each was gone less than four months after opening. All three lost their entire investments. Lavish revivals of much-loved classics are also fizzling. On Sunday, a revival of “Cabaret,” budgeted for up to $26 million and featuring a costly conversion of a Broadway theater into a nightclub-like setting, threw in the towel at a total loss. A $19.5 million revival of “Gypsy” that starred Audra McDonald and earned strong reviews closed last month without recouping its investment. Even a buzzy production of “Sunset Boulevard,” which won this year’s Tony for best musical revival, failed to make back the $15 million it cost to mount.
Is every new show about one nutty lady?!
"Smash" was about Marilyn Monroe. "Boop" was about Betty Boop as you can probably guess. The rest of the shows named there are all about one central strong weird woman — all from more than a half century ago. It's quite unfresh! Why were they expected to succeed? Maybe because they think their audience is a bunch of old ladies. Of course, they want to see Audra McDonald as Mama Rose.One Broadway investor, James L. Walker Jr. of Atlanta, is so frustrated by the current economics that he’s litigating. After putting $50,000 into the “Cabaret” revival, he filed suit against the producers, alleging fraud. In an interview, Walker pointed out that the show has grossed nearly $90 million in ticket sales, plus whatever it made in sales of liquor, food and merchandise, and that he can’t accept that the investors who raised up to $26 million to finance the show have gotten nothing back. “How is that a good business model?” he asked.
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