Schmigadoon! Tony Win Boosts Sales but Profitability Remains Elusive

Despite winning four Tony Awards, including Best Musical, Schmigadoon! has seen a significant boost in ticket sales but still faces financial challenges. In the seven weeks following the awards, weekly ticket sales surged over 42% compared to the prior seven-week period, surpassing $1.2 million and reaching nearly 100% attendance. However, the musical operated at a loss during its first two months and has a limited run at the Nederlander Theatre until January. The show's initial capitalization costs are $11.1 million, and it has not yet reached its maximum weekly earning potential of $1,346,000, with average ticket prices still $13 below projections. The holiday season and final weeks may bring a spike in sales. In contrast, Cats: The Jellicle Ball, despite receiving three Tony Awards and strong YouTube views, will close after five months at a loss, with peak weekly sales of $1,189,431. Other new musicals like Titaníque and Two Strangers have struggled, while The Lost Boys has shown more promise with peak sales of $1,486,528 but has been running in the red and has an open-ended run at the Palace Theatre.