Broadway and theatre
Broadway is a $2 billion sector that sells over 15 million tickets a year, a similar amount to London’s West End. It draws 65% of its audiences from the tourism market, but the strength of its brand is such that it has also enabled permanent and touring productions to operate around the world.
Despite the overall success of Broadway and theatre around the globe, producing individual shows is always highly risky, and only a fraction of them ever manage to recoup their initial investment.
We help Broadway producers overcome challenges and meet their revenue targets.
We have helped more than 40 shows around the world to balance the tensions between creative and commercial success, and to mitigate the risks of staging high-value productions.
We work with the Broadway and theatre industries in a variety of ways, leveraging our marketing expertise, our financial analysis capabilities, and our in-depth understanding and appreciation of industry-specific factors.
Here are some examples of how we can help:
In a wildly unpredictable industry, we conduct in-depth market and consumer research to help creators, producers and investors to anticipate the market size and the level of interest of showgoers for certain concepts and themes, helping them to mitigate the risks that come with creating new shows and to optimize them for success.
When producers and investors need to understand how their show is performing and the reasons behind its current level of success, we leverage a range of tools to give them a clear picture of its creative and commercial performance. We use data analysis, focus groups, and surveys to deliver the insights that will intelligently guide the show’s optimization strategy.
Eight out of 10 new Broadway shows are based on existing material such as a movie, a book or the life of a famous figure, but not all intellectual properties are created equal. We have developed methodologies, tools and benchmarks to understand the power of each IP and its potential for successful transfer to the stage.
Every live entertainment production is at the mercy of its audience. Word-of-mouth reactions can make or break a show, which is why it is crucial for producers to understand what their target audience is saying and to respond to audience feedback. This sometimes means adjusting creative components to generate a higher propensity to recommend. As industry experts, we have developed a unique approach to this process, understanding and respective the creative process.
A strong idea and creative vision will always be the bedrock of any successful show, but a realistic financial model is just as important to ensure its long-term viability. Our team helps producers and creators find the essential balance between creating art and doing business.
The following is a selection of case studies related to the Broadway and theatre industries that Habo has brought to fruition: