No Revival in Sight for Battered Broadway

Economic downturn makes investors nervous and theatergoers thrifty
By Drew Nelles,  Newser Staff
Posted Dec 28, 2008 3:29 PM CST
Shrek the Musical's continued success is bucking Broadway's gloomy trend, thanks to name recognition.   (AP Photo/Boneau/Bryan-Brown, Joan Marcus)
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(Newser) – The economic crisis has produced plenty of drama, but it means a bust for Broadway, the Los Angeles Times reports. Investors are jittery about backing just about anything, theaters are cutting costs, and some shows are shutting down early or canceling their openings. "What we had was a small musical with no boffo star names associated with it," says the producer of one canned musical.

There are still successful shows on Broadway, but insiders speculate that family-friendly shows will get hit as the economy keeps tanking. "When they're flush, upper-class parents with two kids don't think twice about spending $500 to see a show," one says. "But are they going to spend that now when they can see a family movie for $50?"