Broadway Plays Hit Record Ticket Sales

Broadway plays — the classic dramatic performances, not high-production musicals — are breaking theatre-revenue records and driving such high demand that ticket prices are soaring to unheard-of heights.

Why It Plays: Before the pandemic, Broadway plays had a cultural reputation as an analog art form that seemed to be losing influence (other than big blockbuster musicals). But as the demand for IRL events and communal experiences has exploded post-COVID, Broadway has become an unexpected (but welcome) recipient of attention.

Behind the Curtain: Broadway is already having a banner year.

• Last week, a reimagining of Shakespeare’s Othello, starring Denzel Washington and Jake Gyllenhaal, broke the record for highest-grossing play in a week when it sold $2.8 million in tickets.
• That record was beaten this week by the stage adaptation of Good Night, and Good Luck, starring George Clooney, which brought in $3.3 million in ticket sales.
• The average ticket price for each show has topped a whopping $300, with center orchestra tickets for Othello hitting an unprecedented $921.
• Off-Broadway plays are also commanding high prices — tickets for the Andrew Scott-starring Vanya and the Paul Mescal-starring A Streetcar Named Desire each top out at over $400.

Curtain Call: Interestingly, all of these plays feature Oscar-winning-or-nominated actors (not to mention the third-highest-grossing show on Broadway right now, Glengarry Glen Ross, starring Kieran Culkin, Bill Burr, and Bob Odenkirk). It stands to reason that audiences are eager to see these talents sink their teeth into weighty material, especially as Hollywood mostly shies away from straight dramas.

If the trend continues, it may have a slingshot effect where the studios and streamers will once again greenlight projects solely dependent on a great script and incredible performances… for the right price.