What is the success rate of movies-to-musicals anyway?

I’m going to admit it.

Not only do I read Michael Riedel’s twice-a-week Broadway gossip column in the NY Post, but I actually enjoy his stuff . . . even when he’s cracking on one of my shows, and he certainly has.  Deep down the guy loves theater, like all of us, and frankly, some of his columns have been a lot more enjoyable to read than a whole bunch of shows I’ve seen over the years.

In last week’s column, Michael wrote something that made me want to dig a bit deeper.  While slamming Sister Act before it has even gotten to our shores, he said . . .

This is yet another one of those screen retreads that, with few exceptions (“Hairspray,” “The Producers”), have been draining the joy out of musical comedy.

When I read it, I nodded in agreement.  I think all of us feel that movies-turned-musicals are a more miss than hit business, right?

But let’s go to the numbers.

By my count, I’ve got 21 movie-to-musicals in the last 10 years.

And I’m also counting that 7 of them made money.

That’s a 1 in 3 recoupment ratio, which easily trumps the anecdotal average of 1 in 5 that we all quote.

Not so bad, right?  All of a sudden a whole bunch of you when straight to your Netflix account to see what you could turn into a musical, didn’t you?

Well, it gets better.

When you look at the number of those shows that might not have recouped on Broadway, but ran over a year (thus increasing potential subsidiary life, etc.), the number jumps to 14 out of 21.

Now Michael wasn’t talking commercial success . . . he was talking about his own definition of joy.  And, frankly, I know exactly what he’s talking about.

But from an investor’s perspective (and an audience’s as well, since longer running shows means more folks are seeing them), there has been more joy than we may want to admit.

The 1st ever Crowd-Funded Broadway musical. And it’s got your name on it. (UPDATED 2019)

Yes, it’s true.  We’re doing it.

But before I go into the details, here’s the backstory.

The world of financing projects of all shapes and sizes has been changing at an alarming rate over the last decade.

Thanks to entrepreneurs like Guillaume Colboc and Benjamin Pommeraud, as well as my bloggin’ hero Seth Godin and his book Tribes, the guys at Kickstarter.org and, of course, the King of Crowd-Funding himself, Barack Obama, a new era in bringing people with a common vision together has been born.

We’ve even talked about it on this blog on several occasions . . . and we’ve even wondered, “Can we apply this to Broadway?”

Well, guess what?  We can.  It just took a few extra lawyers and a few extra hours to figure out a new way of doing things.  (I even had to pass a Series 63 Exam to become a Securities Agent!)

So, it is with great pleasure that I officially announce to all of you first, that my upcoming Broadway revival of Godspell will be the first-ever Crowd-Funded, or as I like to call it, “Community-Funded,” Broadway musical.

To be honest, I’ve had this idea for several years, but I was just waiting for the right show.  And Godspell is the perfect show for this concept.  As Stephen Schwartz said to me, “Godspell is essentially about a community of people coming together.”  It just makes sense to bring together the largest community of Producers ever to mount this historic 40th Anniversary production.

As you know, investing in a Broadway musical is something that is usually only available to a select group of people at very high investment thresholds.

But everywhere I go, I meet people who I know would love the opportunity to invest in a Broadway musical and become Broadway Producers themselves, despite the obvious risks, if they only knew how, and if only the entry point was more affordable.

Godspell is for all those people.

Traditionally, the price of one investing unit in a Broadway show has been as high as $10,000, $25,000 or even $100,000.

One unit in Godspell is only $100.  (FYI, there is a minimum purchase of 10 units per investor)

Now, in the subject of this post I said this show had your name on it.  Here’s how:

Each investor
in Godspell shall receive a limited liability company interest in The Godspell, LLC,
per our Offering Circular as qualified with the Securities and Exchange
Commission of the United States.*

In addition, every single investor, no matter how much he or she invests, will have his or her name listed on a poster outside of our Broadway theater.

Yep, you’re going to get billing.

And every single investor will also have their name listed on a new website created exclusively for this community, PeopleofGodspell.com, as well as his or her photo, hometown, a quote, and links to their Facebook and Twitter profiles. 

What do you think?  Fun, right?

There may even be opportunities for opening night performance and gala tickets, complimentary tickets to previews, invitations to private cast functions and more.

If you’re interested in joining me and the other members of the community in this incredibly unique and historic production, visit www.PeopleOfGodspell.com today or click here.  Please note, this is a limited offer because there is only a finite quantity of units available.  If you are interested, I encourage you to contact me through the link above as soon as possible.  I’ve announced it publicly here on my blog first, so that my readers could have the first opportunity to participate . . . after all, our conversations helped inspire it.

Click here to learn more about joining the community.  And maybe I’ll see you on opening night!

Oh, and yes, every investor gets one of the buttons in this photograph.

Join The People of Godspell today.  It’s the first-ever Community Produced Broadway Musical.

– – – – –

UPDATE:  This offering closed back in 2011.  Want to learn more about Broadway InvestingClick here to get the only book published on the subject, and learn it works, how to pick “winners,” how to avoid “losers,” and how to get started.

X