In this conversation, Mitch Weiss and Darnelle Radford discuss various topics related to the business of theater. They talk about the high cost of Broadway tickets and the challenges of opening new productions. They also explore the changing audience for theater and the decline in Broadway theaters. The conversation touches on the importance of location for theaters and the challenges of managing costs. Overall, they provide insights into the complexities of the theater industry and the need for innovative approaches to sustain it. This conversation explores the struggles and challenges faced by theaters and the need for change in the industry. It discusses the closure of theaters and the impact of capitalism, as well as the challenges of producing in New York. The conversation also highlights the shift in priorities in nonprofit theater and the need for operational changes. It explores different approaches to regional theater and the importance of realism in theater operations. The conversation delves into the role of marketing and the board of directors in theater success, and the need for transparency and communication in theater leadership. It also discusses new production models, the importance of effective marketing, and the need for collaboration and rethinking the theater industry. The conversation emphasizes the importance of budgeting and making choices in theater productions, as well as the need for substance and originality in theater. It concludes by highlighting the importance of new play development and finding new ways to navigate the changing landscape of the theater industry.

Takeaways

The cost of Broadway tickets continues to rise, making it difficult for many people to afford attending shows.

Opening 18 new productions on Broadway in a short period of time can lead to a competitive and challenging environment, with some shows struggling to attract audiences.

The theater industry faces various challenges, including crisis management, declining subscriptions, and the high cost of production.

The audience for theater is changing, and theaters need to adapt to attract new and diverse audiences.

Shorter runs and limited engagements could be a potential solution to manage costs and create a sense of urgency for audiences. Theaters are facing significant challenges and closures, highlighting the need for change in the industry.

Nonprofit theaters should prioritize new play development and finding new ways to engage audiences.

Effective marketing is crucial for attracting audiences and creating a buzz around theater productions.

Transparency, communication, and collaboration are essential for successful theater leadership and operations.

The theater industry needs to adapt to changing audience expectations and explore new production models.

The theater industry needs to embrace change and collaborate with other organizations to address the challenges it faces.

Art and grant funding should be more accessible and supportive of the diverse needs of the theater industry.