Study: Touring Broadway Contributed $38.2 Million In Economic Impact In Charlotte
Aug 22, 2019 / Press Releases
(August 22, 2019) Charlotte, NC – Touring Broadway shows generated more than $38.2 million in economic impact in Charlotte, according to a study recently released by The Broadway League. The study was based on the 2016-17 Broadway touring season.
“The economic impact of Touring Broadway is significant,” said Blumenthal President/CEO Tom Gabbard. “It’s also important to note that this is just part of the picture. The League study does not include the hundreds of other events presented in our six venues during the 2016-17 season, so the actual impact is even greater than $38.2 million. It’s important that we recognize the overall economic impact of the arts on our local economy and we are happy that this newly released study from The Broadway League calls attention to this.”
In the 2016-17 PNC Broadway Lights season, which ran from September 2016 – August 2017, touring Broadway shows played for 13 weeks at the Charlotte theaters managed by Blumenthal Performing Arts. Noteworthy titles included the 2015 Tony Awards Best Musical Winner Fun Home, Finding Neverland, A Gentleman’s Guide to Love and Murder, and The Bodyguard. More than 127,000 Broadway fans attended the shows that grossed $8.5 million in ticket sales.
Study Overview:
Direct Tour Expenses Totaled $9.1 Million and Economic Impact Totaled $25.4 Million
The show’s producers and presenters spent an estimated $9.1 million in the local Charlotte economy. These expenditures for labor, advertising, theater operations and maintenance, material rentals, etc. help support areas of the economy not directly related to the theater. For example, the household sector is supported through salaries to residents, the local media through advertising revenues, and the real estate sector through building services suppliers.
As money originally spent on the show ripples through the area, its economic impact is multiplied by re-spending within the economy. The secondary rounds of spending contributed another $16.2 million for a total economic impact of $25.4 million.
Ancillary Spending by Theater-Motivated Visitors Totaled $6.4 Million, for Full Economic Impact of $12.8 Million
In addition to the spending required to present each tour, and its economic impact, the shows drew crowds to Center City Charlotte where they spent additional money on restaurants, transportation, shopping, and even hotel stays.
These dollars rippled through the local economy, supporting the restaurant industry, the transportation sector, the retail sector and the household sector, among others. In total, the full economic impact of these visitor ancillary expenditures on the Charlotte metropolitan area is estimated to be $12.8 million.
The study found that overall, touring Broadway generated $3.8 billion across the U.S. In the 2016-17 season, 41 touring Broadway shows traveled to 191 cities across the country.
The Broadway League is the national trade association for the Broadway industry. Its 700-plus members include theatre owners and operators, producers, presenters, and general managers in North American cities, as well as suppliers of goods and services to the commercial theatre industry. Each year, League members bring Broadway to more than 30 million people in New York and more than 200 cities across the U.S. and Canada.
Each year the League works with members on national research. Surveys of ticket buyers in local markets alternate annually between studying the economic impact of Touring Broadway and studying the demographic profile of ticket buyers.
For b-roll of the shows included in Blumenthal’s 2016-17 PNC Broadway Lights series, visit: https://youtu.be/eIPYL3RIUHU
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ABOUT BLUMENTHAL PERFORMING ARTS
Blumenthal Performing Arts serves the Carolinas as a leading cultural, entertainment and education provider. For more information, call (704) 372-1000 or visit BlumenthalArts.org. Blumenthal Performing Arts receives operating support from the Arts & Science Council and North Carolina Arts Council. Blumenthal Performing Arts is also supported by PNC Bank, sponsor of the PNC Broadway Lights.