Overheard at the Broadway League conference: Day 3
The third and final day of the conference yielded this goodie:
David Stone, producer of Wicked, brought up the recent sale of the theatrical division of Live Nation, which included the majority of their theaters as well as the Broadway Across America brand subscription series in those respective markets.
David suggested that the corporate structure and pursuit of Wall Street type goals (annual growth rates, etc.) by companies like Live Nation was antithetical to our industry.
David’s right. As the article linked above suggests, Live Nation ignored the “boring” (as they referred to it) assets of the live theater and focused on concerts and such. I agree we’re in much better hands with John Gore controlling 42 Broadway markets across the country. He actually likes the theater, not just big bottom lines. Those are the best Producers.
But does that mean every corporate structure fails on Broadway?
Something tells me that the big ol’ mouse that had 3 of the top 5 grossing shows last week (again) would have something to say about that.
Corporations have it tough. But the quality ones that care can pull it off.