1st\NW Quadrant: The Approval Matrix
By Julia Boorstin\Seeking Alpha
The Great White Way is facing a long, cold, and very challenging winter. Broadway tickets are pricey and sure to be hit by the economic downturn. Ticket sales and attendance at Broadway shows started slipping in mid-October, no surprise.
A number of big, award-winning shows, including "Hairspray," "Spamalot" and "Young Frankenstein" are set to close in January. Though projections for the holiday season have remained relatively strong, the period between January and March, which is always a weak time, is only going to be bleaker this coming year.
The solution? Deep discounts. Today Disney is launching a "kids go free" promotion. If you buy a ticket to one of 200 performances in January, February and March, you get a free ticket for a kid age 18 and below. Disney's expecting this to give the shows a real boost during what's traditionally their weakest period. The Broadway League is launching its annual "Season of Savings" program on Broadway and Off Broadway shows in early 2009.