Broadway posters hang outside the Richard Rodgers Theatre during Covid-19 lockdown in New York on May 13, 2020. Many Broadway productions are scrambling to resume ticket sales to welcome theater-goers this fall after city and state leaders have green-lit a reopening of the Great White Way at full capacity. Gov. Andrew Cuomo said Broadway theaters can reopen Sept. 14 and will be allowed to decide their own entry requirements. (Photo by Evan Agostini/Invision/AP, File)
By Mark Kennedy
Many Broadway productions are scrambling to resume ticket sales in the coming days to welcome theater-goers this fall after city and state leaders have green-lit a reopening of the Great White Way at full capacity by mid-September.
“We remain cautiously optimistic about Broadway’s ability to resume performances this fall and are happy that fans can start buying tickets again,” Charlotte St. Martin, president of the Broadway League, said in a statement Wednesday.
New York Gov. Andrew Cuomo said Broadway theaters can reopen Sept. 14 and will be allowed to decide their own entry requirements, like whether people must prove they've been vaccinated to attend a show. Selling tickets will allow theaters to gauge interest before stages open, said Robert Mujica, Cuomo’s budget director.
"Phantom of the Opera,” Broadway's longest-running show, announced Wednesday it would resume performances on Oct. 22, with tickets going on sale Friday. More shows are expected to circle return dates in the coming weeks.
Actors’ Equity Association, the national labor union representing more than 51,000 actors and stage managers in live theater, said the news meant the theater community is “one step closer to the safe reopening" of Broadway.
“We look forward to continuing our conversations with the Broadway League about a safe reopening and know that soon the time will come when members can go back to doing what they do best, creating world-class theater,” said Mary McColl, executive director of Actors’ Equity.
The Broadway that reopens will look different. In May, the big budget Disney musical “Frozen” decided not to reopen when Broadway theaters restart, marking the first time an established show had been felled by the coronavirus pandemic. Producers of “Mean Girls” also decided not to restart.
But there will be new shows, including Antoinette Chinonye Nwandu’s “Pass Over” that is slated to reopen the August Wilson Theatre, the same venue “Mean Girls” has vacated. And a Shubert theater has been promised for playwright Keenan Scott II’s play “Thoughts of a Colored Man.”
The lifting of all capacity restrictions has long been considered by the industry as crucial to any reopening plan since Broadway economics demand full venue capacity. Some off-Broadway shows have already reopened with limited capacity.
All city theaters abruptly closed on March 12, 2020, knocking out all shows, including 16 that were still scheduled to open.
Some scheduled spring 2020 shows — like a musical about Michael Jackson and a revival of Neil Simon’s “Plaza Suite” starring Matthew Broderick and Sarah Jessica Parker — pushed their productions to 2021. But others abandoned their plans, including “Hangmen” and a revival of Edward Albee’s “Who’s Afraid of Virginia Woolf?”
Starbucks is scheduled to report its fiscal first quarter 2022 earnings Tuesday, February 1 after the bell. The coffee giant is expected to report revenue of nearly $8 billion and earnings per share of 79 cents. Starbucks has seen a solid recovery in demand since the beginning of pandemic lockdowns, but is now facing a unionization push, labor shortage, and the Omicron variant. Thomas Hayes, chairman of Great Hill Capital, joined Cheddar's Opening Bell to give a preview of Starbucks earnings.
GM is scheduled to report its Q4 earnings after the bell on Tuesday February 1. Wall Street expects a miss as the automaker navigates the global chip shortage, which has hit car sales hard. Investors are looking for an update on production, as well as outlook for the electric vehicles that GM is investing billions to bring to market. Karl Brauer, executive analyst at iseecars.com, joined Cheddar to give a preview of the automaker's report.
Recent data reveals that streaming giants are struggling to retain subscribers in the months following a major release.
According to data from Antenna, subscriber trends show that users will subscribe to a given streaming service just to watch a particular show, and then cancel those subscriptions shortly after. This comes as the streaming space continues to heat up as new entrants crowd the space. Jon Christian, Founding Partner + Digital Supply Chain Leader at OnPrem joined Cheddar's Opening Bell to discuss.
As airlines continues to face massive pilot shortages, United Airlines is opening a training academy for future pilots. United projects that the academy will train around 5,000 new pilots by 2030. David Slotnick, Senior Aviation Business Reporter at The Points Guy joined Cheddar's Opening Bell to discuss.
Stocks opening mostly higher to close out a wild week on Wall Street. It comes as investors continue to digest comments from the Federal Reserve, as well as the latest slew of earnings. Gene Goldman, Chief Investment Officer at Cetera, joined Cheddar's Opening Bell to discuss.
Jim Lacamp, Senior VP of Investments at Morgan Stanley, recaps the headwinds markets faced over the last four weeks and what to expect from this month's Jobs report.
Stephanie Akin, Politics Reporter for CQ Roll Call, breaks down
Senator Manchin's donation pool, and highlights what this support means for the conservative Democrat as well as the Republican party.
Julie Gillespie, Trading Analyst at TipRanks, breaks down Apple's record-breaking quarter and highlights areas of the business where the tech giant may see potential growth throughout the year.
The global oil benchmark surpassed $90 for the first time in more than seven years. This comes as growing tensions between Russia and Ukraine add to concerns about the already-tight market. Jay Hatfield, Chief Investment Officer at ICAP, joined Cheddar to discuss what this benchmark means for the oil industry, and what might happen if Russia does invade its neighbor.
The EU relaxed its Covid travel restrictions for vaccinated individuals among the union's 27 member states, doing away with testing or quarantine requirements for travelers. This comes soon after the World Health Organization said the omicron variant could help make the pandemic more manageable. The new rules take effect February 1st. Bryce Conway, Founder, 10xTravel joined Cheddar's Opening Bell to discuss.