Investing in the commercial theater (Broadway, West End, National Tours, etc.) involves providing capital to cover a show’s development and operating costs in exchange for a share of any profits.
Because each production is unique—driven by creative teams, critical reception, and audience demand—this asset class carries higher risk than many traditional investments and has been compared in the past to venture capital.
Indeed, historically, the risk is similar to venture capital, as only about one-in-five Broadway shows fully recoups their costs, though successful productions can generate meaningful returns over time through box-office receipts and secondary income streams (albums, television, film, streaming, etc.).
So why invest?
Some investors choose to support theatre altruistically, while others are more interested in access to the artists and process, invitations to opening nights and backstage tours. Decide what drives you — which may be different on each project — and determine if that individual project will provide the benefit that you are seeking.
FAQs
Here are some questions we get a lot. We're happy to talk through any of this—and more—with you. Just reach out.