The AndyGram

{module ad_left_body}The new report states that during the 2010-2011 season, Broadway as an industry contributed $11.2 billion to the economy of New York City. This amount was comprised of direct spending in three areas: spending by producers to mount and run shows; spending by theatre owners to maintain and renovate venues; and ancillary purchases by “Broadway Tourists” (defined as non NYC residents who said that Broadway was a very important reason in their coming to New York City). The money that was directly spent in these areas was then re-spent in multiple subsequent rounds.

The subsequent rounds make the original spending exponentially more valuable. In total, the full contribution of Broadway Tourists amounted to $9.0 billion; shows contributed $2.2 billion; and theatres $22.3 million, for a total of $11.2 billion on NYC’s economy. Broadway supports 86,000 jobs and generates $550 million in taxes to NYC.

Charlotte St. Martin, Executive Director of The Broadway League, said, “Broadway continued to show growth in economic impact on New York City with a most impressive 9% increase from the 2008 – 2009 season. The increase in the number of tourists who were drawn to the city because of Broadway directly was the most important driver in the growth of jobs supported by our industry from 84,400 to over 86,000 jobs, and generated $550 million in taxes, compared to $477.77 from the last report.”

Broadway’s Economic Impact 2010-2011

Impact of:	2008-2009 (million $)	2010-2011 (million $)
Spending by Broadway Tourists	$8,063.2	$8,954.8
Show Expenses	$2,145.1	$2,221.9
Theatre Capital Expenses	$53.8	$22.3
TOTAL	$10,262.2	$11,199.1