Jan 30 2014, 11:58pm CST | by Forbes
The news this week out of New York City has been the dramatic price drop of Super Bowl tickets. During the lead up to the playoffs, the world assumed that Super Bowl tickets in New York City would be amongst the most expensive ever. When it’s all said and done, Super Bowl XLVIII may end up being the least expensive Super Bowl in a long time. However, Super Bowl tickets are not the only tickets dropping in price this week in New York. Broadway tickets for some of the biggest show on the Great White Way are cheaper this weekend than at any point during the rest of the year.
Based on gross receipts last week, the three biggest shows on Broadway are Book of Mormon, The Lion King, and Wicked. Last week, each of the shows grossed over $1.5 million. Compared to their average price over the next three months, those top three shows have an 18% discount during Super Bowl weekend. Book of Mormon has the highest discount. At an average price of $243 during Super Bowl weekend, Book of Mormon tickets are 27% cheaper than the rest of the year. The second largest discount belongs to Lion King tickets. At an average price of $256, they’re 14% cheaper than the rest of the year. Currently, the Saturday night show is the cheapest of the weekend, with an average price of $208. At an average price of $258, Wicked tickets have the smallest discount at 12%.
While you might expect prices for the most popular tickets on Broadway to be more expensive with the influx of tourists coming to New York, there are a few things working to drive prices down. Most importantly, all three of the top shows listed above now have touring performances that travel all over the country. In particular, the Lion King is about to open a show in Seattle, starting on March 11th. After a sold out run that set gross receipt records in Denver last year, Book of Mormon has already scheduled a second run in Denver, the hometown of South Park and Mormon creators Trey Parker and Matt Stone. Wicked opens in Spokane, Washington in May. The other major factor driving down prices for Broadway tickets is that there’s a lot going on this weekend in New York City other than Broadway. Starting tomorrow night, the Super Bowl party circuit begins in earnest, with almost 20 big events scheduled on Friday and Saturday. These include the Maxim and DirectTV party, two of the biggest stars on the party circuit. For fans in town to soak in the Super Bowl atmosphere, choosing between an event like ESPN Next and say, Jersey Boys, isn’t much of a choice at all. ESPN Next is the most athlete-filled event on the party circuit and there will be enough stars there to make a sport of who can spot the most interesting or noteworthy celebrities. 2012’s event featured sports luminaries like Shaquille O’Neal, Drew Brees, Hope Solo, Blake Shelton, Spike Lee, JR Martinez, Tim Tebow, Jerry Rice, Steve Young and Cam Newton. The event also had a special performance by Drake.
As for another big show on Broadway, Jersey Boys, anyone who’s been in New York for the last week has had a chance to see them twice. Last Sunday, members of the cast performed at Yankee Stadium before the first Stadium Series hockey game. They also helped kick off Super Bowl Boulevard earlier this week with a performance in front of Macys. With all those chances to see them for free, who needs to pay for Jersey Boy tickets?
Source: Forbes Business
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