With an economic impact of $9.8 billion in the 2008-09 season alone, Broadway as an industry which should be economically studied. Currently there is a large gap in scholarly literature about Broadway with only three quantitative studies having been performed. This thesis aims to help fill this gap by building off of these three studies to determine which factors influence the success- measured as total days on Broadway from opening to closing night- of a Broadway musical. This thesis focuses specifically on musicals as they have been shown in all three empirical studies to have longer runs and a larger economic impact than Broadway plays. The econometric analysis finds many variables such as a movie version of the musical being released, and winning the Tony for Best Musical- that are predictive of longer run times. Revivals are found to have substantially shorter run times than original runs and over time, musicals are lasting longer.
This thesis examines the problem in the performing arts industry of appealing to new audiences in order to maintain sufficient revenue in an industry with an aging target demographic. This issue is analyzed with a focus on developing marketing strategies. Using case studies of a Denver based opera company, Opera Colorado, and a relatively new Aurora based musical theater company, Ignite Theatre, this thesis aims to gather information through interviews on existing strategies among various types of performing arts organizations and make recommendations for further development. Findings suggest that digital marketing, outreach programs and events, and accessible pricing models are among the most effective means of attracting new patrons.