Broadway enters an anxious time as labor action threatens to roil theaters

[PJMcK]

1. There's a lot of anxiety

Several of my clients write Broadway shows and depend on their weekly royalty checks. Many of my friends are musicians and actors who depend on their paychecks. This could be a difficult set of negotiations.

Broadway could be in serious financial trouble. The astronomical costs to produce shows has made ticket prices equally out of this world. There's also the problem of the shows themselves where many of the shows just aren't that good. When they close, they lose their entire budgets which can be $20+ million.

There's not much we can do but hope the negotiations are fair and fruitful. Not only is the Broadway community holding its breath but the local businesses that benefit from the ticket holder activity are also uptight.