If you’ve been following the news lately, you know that Broadway is expensive. And so are Broadway tickets.
Hamilton is an absolute Broadway blockbuster. Tickets for it are sold out on Broadway until January 2017 and the average price on the secondary market is $1,200.
We would tell you that if those prices are too rich for your blood then just wait until the show is off Broadway and on tour, but the dollar signs on that path would make the Monopoly Man go bankrupt.
This month, tickets for the first off Broadway Hamilton show went on sale in Chicago and prices rose as high as $10,000 per ticket.
Hamilton is a phenomenon, but if you’re a Broadway veteran you know that tickets to popular shows are expensive. In 2014 the cost of Broadway tickets averaged $100 for the first time in history.
On average it costs $2.4 million just to produce a show, plus $300,000 a week in operating costs. With those types of costs, it’s a wonder that tickets aren’t more expensive.
Broadway production costs are extremely inflated compared to the rest of the theater world too. On the West End it would only costs you $565,000 to produce a show and $105,000 a week to run the show. That’s chump change compared to Broadway where the same show would cost $2.8 million and $260,000 a week.
For the average person those type of prices make Broadway shows a rare splurge instead of something they can enjoy regularly. What makes Broadway tickets so expensive, and is there a way to get around the high prices?
We’ve put together a list of reasons why Broadway is so expensive and how you can get around the high prices.
1. People are always buying tickets.
Combine Broadway’s global reputation and the tourism industry in New York and you’ve got must see attraction.
Whether it’s a New York theater goer or a tourist there will always be someone willing to pay for pricey Broadway tickets. No matter how much the price of Broadway tickets has risen over the years the attendance numbers have risen with them.
2. Rehearsal costs.
It takes a lot of work to get a show Broadway ready, and that means weeks and weeks of rehearsals.
Any actor with and actor’s equity contract gets $1,700 a week, and that’s the base pay. Well known stars and celebrities can cost much more than that just to rehearse the show.
If those rehearsals require live musicians the rehearsal costs can skyrocket. The costs of live musicians for rehearsals can reach $10,000 a week per musician.
Renting a rehearsal space isn’t cheap either. It can cost up to $250,000 all on its own.
You can see why the producers of a Broadway show want people to know it exists.
That’s where advertising comes in.
Advertising is one of the biggest costs for a Broadway show and is also difficult to predict. A fair estimate for a show with a $3 million budget is 30% dedicated to advertising.
Now that you know a few of the costs behind a Broadway show, here are a few ways you can get around high ticket prices.
1. Play the lottery
Broadway Lotteries are a win for fans and producers. People who can’t afford pricey tickets get too see the show and producers easily fill seats.
If you’re feeling lucky and don’t want to wait in line for cheap rush tickets, then lotteries are your best option to getting cheap tickets.
Lotteries open around an hour before show time and you can enter then or 5 minutes before the show. Some shows even provide entertainment for people waiting in their lottery lines.
If you are going to a lottery on your own find someone else who is there alone and pair up with them. You’ll double your chances of winning and make a friend in the process.
You have to get lucky, but if you do you can save yourself hundreds and even thousands of dollars.
2. Go Digital
If you can’t wait around or just don’t want to spend your entire day on Broadway, then you can use your smartphone to find cheap Broadway tickets.
On the app TodayTix you can find last minute Broadway tickets for cheap and even enter some lotteries from your phone.
Some shows even have lotteries on their websites. Check all the shows you want to see for online lotteries. Only a few have them and you still have to get lucky, but it’s worth a shot.
3. Go to TKTS
On the day of the show TKTS has tickets for most performances for up to 50% off.
You’ll have to wait in line and get there early, but these discounts are usually worth it. You can head to the TKTS website or download their app to see what they have tickets for and how much the discount is.
How do you get around high Broadway prices? Share this article and let us know in the comments below!