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There’s nothing like a closing announcement to generate business.
In the week after announcing its Broadway closure, The Phantom of the Opera saw its grosses jump close to $250,000 and saw its capacity reach just over 100 percent, the highest capacity at the production in more than a year. The average ticket price also crept up $10 from the previous week. This brought the box office total for the week ended Sept. 25 to $1.2 million.
The trend may continue as the advance at Phantom has tripled since the announcement, according to the production.
The production, which is the longest-running musical on Broadway, announced on Sept. 16 that it would end its run on Feb. 18, 2023. The Andrew Lloyd Webber-composed musical has been playing Broadway’s Majestic Theatre since January 1988.
Producer Cameron Mackintosh has cited the production’s high running costs, amid a lower tourist audience on Broadway, as the reason for the show’s closure (several international productions of the show are still running). However, many within the industry believe the show may return in a more cost-effective form in the future — a tactic that Mackintosh took with Les Misérables, which ran on Broadway from 1987 to 2003 and then returned in 2006 and again in 2014. Mackintosh has also hinted at a return.
“Gaston Leroux’s opera ghost may be disappearing for now, but there is no doubt that Andrew Lloyd Webber’s masterpiece will continue to enchant audiences in London and around the world — and one day will return to Broadway,” he said in the closing announcement.
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