Oskar Eustis, the Public Theater’s artistic director, told the Sarasota Herald-Tribune that only a portion of the profits from the Broadway hit musical Hamilton—which got its start at the downtown theatre—goes towards the Public’s operating budget. Eustis revealed that only $250,000 of Hamilton profits are used per year to run the theatre, with the rest going into cash reserves.
“We are acutely conscious of becoming addicted to a source of revenue that won't be around forever,” the artistic director told the magazine, referencing the theatre’s earlier successful production, A Chorus Line.
The Public famously profited from the success of A Chorus Line—which debuted at the Off-Broadway theatre in 1975 before transferring to Broadway—and founder Joseph Papp put that money directly towards its operating budgets.
The cash flow took the pressure off the Public’s development department, but Eustis says he is hesitant to copy Papp’s model.
“This money [from Hamilton] will be for long-time artistic programs, acquisition of space, raising payments for artists,” said the artistic director. Read the full interview here.