Though I don’t cite him very often, I keep an eye on the blog of Broadway producer Ken Davenport because he tends to ask questions about how Broadway can do a better job of serving the public.
We often see Broadway as a monolithic behemoth to whose gravitational pull most theaters are subject to some degree. It is interesting to see someone talking about how the business process in NYC might not be living up to its potential and gain insight into some of the inner workings.
In the next two weeks Davenport is going to conduct webinars breaking down the budgets of a Broadway show. These will be held on October 22 and 29, both from 7-8 pm EDT with a recording posted afterward. (my emphasis)
Over those two nights, I’ll walk you through my philosophies of budgeting, a strategy to make sure you come in under budget on every single one of your shows, and most importantly I will walk you through each and every line and page of an actual Broadway budget.
In other words, if a budget is the engine of a Broadway show, I’m going to pop the hood, take apart the motor piece by piece, and then put it back together again . . . so you not only understand how it works, but so you can build your own.
It’s going to be fun, and if you’re a numbers guy/gal, you’ll really love it. If you’re not a numbers guy/gal, well, all the more reason for you to sign up, because budgeting is where so many shows go wrong. It is the business blueprint of your production.
I emphasize this second to last sentence because even if you never think you will ever mount a Broadway show, this is an opportunity to have someone talk about a budgeting process for a performance.
For everyone who talks about transitioning away from the non-profit arts business model, this is a good opportunity to gain insight into what factors you need to consider in the commercial realm, even if you are already pondering a third (or fifth) alternative.