The lights are looking dim on Broadway, which suffered its worst attendance record in eight years during the 2012-2013 season, according to Bloomberg’s Philip Boroff.
The total box office take was similar to last year’s, but ticket prices were up $6 from last year, to an average of $98 a ticket.
There are a few factors to blame for the dip in attendance:
- Hurricane Sandy: The Superstorm shuttered theaters for four days, costing shows more than $8.5 million in lost revenue, according to the AP.
- The increase in ticket prices: “There is no goodwill left among theatergoers,” Michael Taustine, treasurer of the Lyceum Theatre, told Bloomberg. “They are resentful and angry at the arrogance of Broadway pricing policies.”
- Dark theaters: 13 of Broadway’s 40 theaters are currently dark, an “unusually large” number for the weeks before the Tony awards, according to Bloomberg.
Even stars like Tom Hanks and Bette Midler, who drew big crowds, couldn’t save the season, noted Boroff.
Shows including “Orphans,” ”The Testament of Mary,” ”Hands on a Hardbody,” ”Jekyll & Hyde” and “The Performers” opened and closed quickly, making it hard for sales to recover, noted the AP.
We have already seen what Jeremy Lin’s popularity means on a world-wide scale. But there has also been a huge impact at the local level. And one of those factors is the cost of going to see the Knicks play.
Courtesy of SeatGeek.com, is a look at how prices for last night’s game between the New York Knicks and Sacramento Kings on the secondary-market changed over the last week. In the six days leading up to the game, prices rose 245%.
So if you were hoping to see the Lincredible Circus, it is going to cost ya…
If you want to get a sense of how popular Jeremy Lin has become in just a few days, check out this chart that measures the popularity of search terms on the internet.
In the last few days, Lin has surpassed even Tim Tebow in terms of internet popularity. And while it is the off-season for Tebow, consider that he made all the media rounds last week at the Super Bowl. And also notice that as Lin’s popularity is growing, Tebow’s numbers also peaked momentarily. This is likely due to comparisons between the two underdog athletes…
(Evidently, domestic grosses of $533,345,358, $748,590,960 and $331,666,06, respectively, weren’t enough for Hollywood—nor was the fact that Avatar made $120,000,000 just on IMAX screens, just in the US.)
So a more extreme version of gouging begins at theaters. And just as the public cried about $10 movie tickets while continuing to flood the theaters in droves, many will still pay $20 to see the latest Shrek, complaining about it until they forget that the world was ever any different.
But you know what? I won’t, not now or in the near future. And I’m about as fiscally irresponsible and movie obsessed as idiots come. That’s a bad sign for movie theaters and studios alike, as it means the more sane amongst you will bail on theaters for sure (if you haven’t already).
Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.
Collaborators – Digital Profs
- Coke vs Pepsi vs Dr Pepper
- Netflix vs Blockbuster - Perfect example of an industry replaced by a more efficient version of itself
- Marketing Costs Normalized to CPM Basis for Comparison
- The JKWeddingDance video was real; the viral effect was MANUFACTURED - Post 1 of 2
- drag2share: How Taco Bell's Lead Innovator Created The Most Successful Menu Item Of All Time
- Mobile OS Version Fragmentation Android vs iOS
- Netflix Pricing Plan Changes 2011
- Are Consumers “Falling Out of Love” With Brands?
- drag2share: This Project Is Going Absolutely Bonkers On Kickstarter, Raising $101,000 In 29 Hours
- Brand Advertisers: Escaping an Ecosystem of Digital Advertising Fraud
- #SESNY: Toward a Performance Mindset for All Advertising
- Tips for Marketers Selecting a Digital Agency
- Context Is Not King or Queen; It's Just Necessary
- 2013 New Year's Digital Marketing Resolutions
- The Good, Bad, and Ugly of Online Campaign Ratings and eGRPs
- Why You Should Banish the Net Promoter Score Immediately
- Digital Strategy To-MAY-to vs. To-MAH-to
- The Agency-Client Relationship is Forever Changed
- Targeting vs. Privacy - Who Will Win?
- March 2014 (81)
- February 2014 (167)
- January 2014 (222)
- December 2013 (167)
- November 2013 (111)
- October 2013 (116)
- September 2013 (214)
- August 2013 (210)
- July 2013 (200)
- June 2013 (87)
- May 2013 (87)
- April 2013 (70)
- March 2013 (114)
- February 2013 (89)
- January 2013 (136)
- December 2012 (96)
- November 2012 (130)
- October 2012 (147)
- September 2012 (94)
- August 2012 (93)
- July 2012 (112)
- June 2012 (71)
- May 2012 (82)
- April 2012 (80)
- March 2012 (122)
- February 2012 (114)
- January 2012 (129)
- December 2011 (60)
- November 2011 (54)
- October 2011 (29)
- September 2011 (17)
- August 2011 (30)
- July 2011 (18)
- June 2011 (19)
- May 2011 (23)
- April 2011 (23)
- March 2011 (52)
- February 2011 (69)
- January 2011 (108)
- December 2010 (82)
- November 2010 (67)
- October 2010 (68)
- September 2010 (44)
- August 2010 (101)
- July 2010 (61)
- June 2010 (28)
- May 2010 (28)
- April 2010 (26)
- March 2010 (33)
- February 2010 (21)
- January 2010 (12)
- December 2009 (4)
- November 2009 (2)
- October 2009 (14)
- September 2009 (6)
- August 2009 (19)
- July 2009 (34)
- June 2009 (11)
- May 2009 (4)
- April 2009 (6)
- March 2009 (13)
- February 2009 (32)
- January 2009 (25)
- December 2008 (1)
- October 2008 (1)
- June 2008 (1)
- November 2007 (1)