Can a Tony Award Affect a Show's Path to Economic Success?

Fans of Broadway know that as soon as a show wins a Tony Award, ticket prices usually go up, and availability usually goes down. Syracuse University's Martin J. Whitman School of Management economics professor Robert Florence is taking a closer look at how the Tony bump can affect a Best Musical winner.

"They will start with tickets at a particular price historically for what we think is a popular play ... and then they wait and see. And if the line is still out the door, then the ticket prices continue to go up."

In fact, winning Best Musical does not ensure a long run. Of the past ten winners, only four are still running. "Sustaining success over time is the hardest and most important thing to do on a show," said Nexus Ticketing Solutions' Mike Rafael. "Keeping a show fresh in the mind of an audience and adjusting the pricing to the changes in the audience are critical to longevity."

Check out some graphics that illustrate some Tony-winning musicals' paths to success below and click here to read more.

Courtesy of MBA@Syracuse, the online MBA program from Syracuse University