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Broadway Invests in a New Ticket Pricing Strategy

HughJust like when the price of airline tickets increases during times of high demand (i.e. Thanksgiving), Broadway producers have begun raising the cost of seat tickets based on the popularity of a show – for the first time ever (well, except during the Holidays). This practice has been growing in application in the New York performance scene. For instance, American Ballet Theater began raising prices during its spring season and will continue to do so this season.

“Hugh Jackman, Back on Broadway” is the most recent and obvious practitioner.  The production not only gained $1,468,189 for only eight performances, but it also upped the cost of seats, as well. According to The New York Times, $250 tickets for the show are now going for $275, $325 or even $350, depending on the performance time. Can you say cha-ching?

"Jackman" producers say this latest strategy involves rising or lowering ticket costs based on a week-to-week, or even day-to-day sale basis, which is good for the producer – and it has been paying off - and possibly bad for the consumer. If the number of expensive seats increases, then that leaves seats that are cheaper, meaning a possible exclusion of less wealthy viewers. As long as there is demand, those without the scratch will be left outside.

Pictured: Hugh Jackman (Photo: Getty Images)

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