Broadway Contributes 9.8 Billion to NYC Economy in 2008-2009

The Broadway League released the 2008-2009 Broadway's Economic Contribution to New York City report, the seventh biennial report in this series. The report measures the full economic impact of spending by Broadway production companies, Theatre Operators and those visitors drawn to NYC by Broadway. As the official source for statistical information about Broadway theatre productions in the United States, The Broadway League's report demonstrates that Broadway not only offers entertainment, art and culture, but that it is an industry whose financial contributions nourish the economy of its city and state.

The new report states that during the 2008-2009 season, Broadway as an industry contributed $9.8 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 non NYC residents who said that Broadway was an important reason in their coming to New York City ("Broadway Tourists"). The money that was directly spent in these areas was then re-spent in multiple subsequent rounds, until the original sums left New York City. The subsequent rounds make the original spending exponentially more valuable. In total, the full contribution of Broadway Tourists amounted to $7.7 billion; shows contributed $2 billion; and theatres $51 million, for a total of $9.8 billion. Broadway supports 84,400 jobs and generates $477.7 million in NYC taxes.

Charlotte St. Martin, Executive Director of The Broadway League, said, "The new economic impact information for the 2008-2009 season about the contributions of Broadway to New York City reminds us of how important Broadway is to tourism. We have a strong partner in NYC & Company, the official marketing and tourism organization of New York - the world's greatest stage - and our collective efforts to keep tourism strong complement each other." She continues, "With over 82% of Broadway's tickets purchased by theatergoers coming from outside New York City, it is especially meaningful to our city that during times of economic crisis, Broadway continues to deliver."

Breakdown of Broadway's Economic Impact 2008-2009 (in millions):

Spending by Broadway Tourists
(Ancillary spending by tourists who came to the city citing Broadway as a very important reason)
$5,192.2 (Direct Spending)
$7,700.1 (Total Impact)

Show Expenses
(Cost to produce and run the show)
$949.2 (Direct Spending)
$2,048.5 (Total Impact)

Theatre Expenses
(Cost to run venues)
$34.6 (Direct Spending)
$51.4 (Total Impact)

TOTAL
$6,175.9
$9,800.1

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The Broadway League is the official trade association for the Broadway theatre industry, operating under the "Now THAT'S Broadway!" banner, which signifies genuine Broadway productions and events. Founded in 1930 as the League of New York Theatres, the League is a membership organization whose 600-plus members include Theatre Owners and operators, producers, presenters, general managers, and suppliers of theatrical goods and services. Each year The Broadway League and its members bring Broadway theatre to nearly 30 million people in more than 240 cities across the U.S. and Canada. Visit www.BroadwayLeague.com.

League programs include the Broadway Concierge & Ticket Center, Broadway's centralized full-price ticket outlet and customer-service headquarters located in the Times Square Visitor Center; co-presentation of the Tony Awards® with the American Theatre Wing; ILoveNYTheater.com, a multilingual Internet source for show tickets and information; the Touring Broadway Awards®, the first awards program recognizing excellence in touring Broadway productions; Broadway on Broadway® (with the Times Square Alliance), an annual outdoor concert in Times Square; Internet Broadway Database® at IBDB.com; and Kids' Night on Broadway®, a national audience development program.