|re: That’s one of things I don’t understand about financing.|
|Posted by: ryhog 03:38 pm EDT 06/05/21|
|In reply to: That’s one of things I don’t understand about financing. - dramedy 01:13 pm EDT 06/05/21|
|Think of it as a gofundme project on steroids.
It seems clear that the folks producing this are doing it because they feel the show should have a Broadway pedigree and are not doing it either for prestige or to make money, or perhaps for non-monetary benefit.
Also, note that many/most of the producers are likely either contributing mostly in kind or in a pass back (no pun intended). Again, not focused on ROI. Matt Ross is a publicist who has dabbled in producing. For him, perhaps it is an opportunity to lead produce something for the experience and future credibility. He will not be the first to start this way. He may well plow his fees (as publicist and as producer) back into the show. Jujamcyn is the landlord. If, as would seem to be the case, Jordan thinks this should be on Broadway and can (briefly) provide his theatre at little or no net cost to the production, that's a nice chunk of change zeroing out of the cost one way or the other. LCT is, presumably, providing the production with everything it has done and can do for the production without any direct financial outlay. Concord presumably handles the rights for the play and obviously has a stake in its future profile. And Antoinette Nwandu is the playwright, and naturally is the chief beneficiary of this undertaking. (Her's may also be a pass back of royalties.) There may be other stories among the remaining producers that are not as obvious to me.
I don't think there is a lot more to understand. We don't have a lot of government subsidy in America. If this is throwing away $3mil, at least the govt picks up half the tab for well-heeled NYers.
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