Tony Triumph Meets Tough Economics For ‘Schmigadoon!’

Tony Triumph's Schmigadoon! has seen a significant boost in box office sales following its four Tony Awards wins, with weekly ticket sales surging over 42 percent compared to the previous seven weeks. The musical has reached $1.2 million in weekly ticket sales and approached 100 percent capacity attendance last week. However, despite this surge, the show has been operating at a loss during the first two months of its run and only has until January to secure the Nederlander Theatre.

With an initial capitalization cost of $11.1 million, the musical needs more growth in box office sales to recoup these expenses. The show has not yet reached its maximum weekly earning potential of $1,346,000, as per the financial paperwork to investors, nor has it hit its projected average ticket price. Still, a significant spike in ticket sales is expected during the holiday season and in its final weeks of performances.

While the awards show and the show's performance at the ceremony garnered record views, Schmigadoon! experienced a dip in audience numbers after the Tony Awards, filling only 85 percent of its theater during the last week of June. The success of Cats: The Jellicle Ball suggests that the recent buzz might not be enough to save Schmigadoon! from potential losses, as even that show had to close after a loss.

Other new Broadway musicals like Titanic and Two Strangers have also struggled, with the latter's budget exceeding initial projections. Unlike Schmigadoon!, The Lost Boys still has an open-ended run at the Palace Theatre, giving it more time to break even despite its current losses.