Broadway show earns $2 million/week using Fastlane principles

[RHL]

I was fortunate enough to get two center orchestra tickets, just a few rows behind the pit, for $50/each (normal value approximately $160/ea) to Wicked in Manhattan on Saturday. After seeing the show, I did some research on its 10+ year, $2 billion theatrical run. Boom, Fastlane principles:

Link.

The good stuff:

There are plenty of theories as to why "Wicked" hit the sweet spot... One might note the show's popularity with a youthful demographic that likes to go back again and again. One might further note the truth that comedies like "The Book of Mormon" are less than ideal for repeat business (you've heard all the jokes the first time) but that emotional, bonding experiences like "Wicked" are enjoyable on multiple visits.

Stephen Schwartz wrote something that brings people back again and again rather than writing a piece people only want to see once, then having to write another one of similar ilk to keep getting paid. He included a bubblegum pop song which he described as "shallow" because it was "sticky." Here it is:

If this sounds familiar and you're not a theater buff, it's because it's sampled here:

That Youtube video has over 40m views. Schwartz did nothing but sign, and he got paid. Kanye is also rumored to be sampling this track for upcoming work. If that happens, he'll sign again, and get paid again.

This is why it's so crucial to take your time and create epic, polished content on the first run. Make something people will keep coming back to, instead of something that loses its zing on the first bite. Do it right once, and it'll take care of you forever.

 

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[KRothschild]

Ah, I enjoyed Wicked. If it lasts as long as The Phantom of the Opera, which is worth more than Titanic and Avatar combined, then Schwartz has hit the jackpot. You make a good point about creating great content, but this is the age of whizz-bang success.

I could spend years and millions of dollars on putting together a musical, or I could invest in the Rihanna songwriting camps for a very quick profit and then move on to the next. The viral nature of today's market is easier to capitalize on through an expandable and malleable brand such as celebrity or ongoing TV series (even musical ones like Glee). I suppose Andrew Lloyd Webber tried to do this to Schwartz's Wicked by snapping up The Wizard of Oz as soon as Wicked became huge, but that seems to be as much as you can add on.