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Jeffrey Seller

👤 Person
75 total appearances

Appearances Over Time

Podcast Appearances

Freakonomics Radio
630. On Broadway, Nobody Knows Nothing

So if we were grossing $500,000 a week, we were making a nice little profit. And by the way, Avenue Q won the Tony, ran on Broadway for six years, and was what I call a solid double. Same exact formula for In the Heights, which came five years after that. However, it was more expensive.

Freakonomics Radio
630. On Broadway, Nobody Knows Nothing

So if we were grossing $500,000 a week, we were making a nice little profit. And by the way, Avenue Q won the Tony, ran on Broadway for six years, and was what I call a solid double. Same exact formula for In the Heights, which came five years after that. However, it was more expensive.

Freakonomics Radio
630. On Broadway, Nobody Knows Nothing

There were 30 people on stage, more musicians, more scenery, more costumes, but it still was able to break even on Broadway every week for only $450,000, which means that if I'm grossing $700 a week, I'm still making a little profit. Today, shows like Avenue Q or In the Heights are costing $10, $12 million. That's more money I have to earn back.

Freakonomics Radio
630. On Broadway, Nobody Knows Nothing

There were 30 people on stage, more musicians, more scenery, more costumes, but it still was able to break even on Broadway every week for only $450,000, which means that if I'm grossing $700 a week, I'm still making a little profit. Today, shows like Avenue Q or In the Heights are costing $10, $12 million. That's more money I have to earn back.

Freakonomics Radio
630. On Broadway, Nobody Knows Nothing

There were 30 people on stage, more musicians, more scenery, more costumes, but it still was able to break even on Broadway every week for only $450,000, which means that if I'm grossing $700 a week, I'm still making a little profit. Today, shows like Avenue Q or In the Heights are costing $10, $12 million. That's more money I have to earn back.

Freakonomics Radio
630. On Broadway, Nobody Knows Nothing

And the operating costs, instead of being $300, $400, $500, are $700, $800, in my case for Sweeney Todd, over $900. And that massive inflation is being driven primarily by what? It's being driven by higher labor costs, higher rental costs for equipment, higher production costs for building sets, higher production costs for building costumes, higher rent from the landlords, advertising costs.

Freakonomics Radio
630. On Broadway, Nobody Knows Nothing

And the operating costs, instead of being $300, $400, $500, are $700, $800, in my case for Sweeney Todd, over $900. And that massive inflation is being driven primarily by what? It's being driven by higher labor costs, higher rental costs for equipment, higher production costs for building sets, higher production costs for building costumes, higher rent from the landlords, advertising costs.

Freakonomics Radio
630. On Broadway, Nobody Knows Nothing

And the operating costs, instead of being $300, $400, $500, are $700, $800, in my case for Sweeney Todd, over $900. And that massive inflation is being driven primarily by what? It's being driven by higher labor costs, higher rental costs for equipment, higher production costs for building sets, higher production costs for building costumes, higher rent from the landlords, advertising costs.

Freakonomics Radio
630. On Broadway, Nobody Knows Nothing

It is also true that there is nothing I can do to become more efficient. I need those 26 to 35 actors. I cannot do it with less. In the case of Sweeney Todd, I need those 26 musicians. That's what I signed up for. That's what it takes.

Freakonomics Radio
630. On Broadway, Nobody Knows Nothing

It is also true that there is nothing I can do to become more efficient. I need those 26 to 35 actors. I cannot do it with less. In the case of Sweeney Todd, I need those 26 musicians. That's what I signed up for. That's what it takes.

Freakonomics Radio
630. On Broadway, Nobody Knows Nothing

It is also true that there is nothing I can do to become more efficient. I need those 26 to 35 actors. I cannot do it with less. In the case of Sweeney Todd, I need those 26 musicians. That's what I signed up for. That's what it takes.

Freakonomics Radio
630. On Broadway, Nobody Knows Nothing

I have two choices. Close my show or put more money in the bank so I can finance the losses every week. So now you've just gotten to the second most important decision a producer has to make. After what show will I do? When do I close? When the amount of money I bring in every week is less than the amount of money I need to operate my business, I close. What happened with Funny Girl?

Freakonomics Radio
630. On Broadway, Nobody Knows Nothing

I have two choices. Close my show or put more money in the bank so I can finance the losses every week. So now you've just gotten to the second most important decision a producer has to make. After what show will I do? When do I close? When the amount of money I bring in every week is less than the amount of money I need to operate my business, I close. What happened with Funny Girl?

Freakonomics Radio
630. On Broadway, Nobody Knows Nothing

I have two choices. Close my show or put more money in the bank so I can finance the losses every week. So now you've just gotten to the second most important decision a producer has to make. After what show will I do? When do I close? When the amount of money I bring in every week is less than the amount of money I need to operate my business, I close. What happened with Funny Girl?

Freakonomics Radio
630. On Broadway, Nobody Knows Nothing

What happened? Right. Well, what happened is that a young, talented star named Lea Michele came and completely 180 degrees turned that show around. Now, why would it then not extend?

Freakonomics Radio
630. On Broadway, Nobody Knows Nothing

What happened? Right. Well, what happened is that a young, talented star named Lea Michele came and completely 180 degrees turned that show around. Now, why would it then not extend?

Freakonomics Radio
630. On Broadway, Nobody Knows Nothing

What happened? Right. Well, what happened is that a young, talented star named Lea Michele came and completely 180 degrees turned that show around. Now, why would it then not extend?

Freakonomics Radio
630. On Broadway, Nobody Knows Nothing

I think they had her for a year, and stars like Lea Michele or Josh Groban, to get them to come to Broadway for a year is a wonderful thing. And it's very rare that you would get someone of that caliber to extend. Many stars, when they come to Broadway to do a play, will come to do like a 12-week run, and they're gone.

Freakonomics Radio
630. On Broadway, Nobody Knows Nothing

I think they had her for a year, and stars like Lea Michele or Josh Groban, to get them to come to Broadway for a year is a wonderful thing. And it's very rare that you would get someone of that caliber to extend. Many stars, when they come to Broadway to do a play, will come to do like a 12-week run, and they're gone.

Freakonomics Radio
630. On Broadway, Nobody Knows Nothing

I think they had her for a year, and stars like Lea Michele or Josh Groban, to get them to come to Broadway for a year is a wonderful thing. And it's very rare that you would get someone of that caliber to extend. Many stars, when they come to Broadway to do a play, will come to do like a 12-week run, and they're gone.