By Adam Hetrick
29 May 2014
"During the 2012-2013 season, Broadway contributed nearly $12 billion to the economy of New York City, a 2 percent increase from two years ago. It's significant to point out that 97 percent of the $11.9 billion represents new money to New York City," said Charlotte St. Martin, executive director of the Broadway League, in a statement. "The impact of spending by visitors who came to New York to see a show increased by more than 3 percent, thanks to the ongoing increase in the number of international Broadway tourists. The visitor impact balanced a decrease in the impact of the spending generated by shows and theatres."
The breakdown follows: Broadway tourists contributed $9.6 billion to New York City's economy, with Broadway shows pulling in $2.2 billion and the theatres taking in another $17 million. The Broadway League's report states that $500 million in tax revenue was also generated with 87,000 jobs supported by the industry during the 2012-13 season.
The $9.6 billion is up from the $9.3 billion generated in 2010-11 and the $8.3 billion generated during the economic downturn in 2008-09.
The figures comprise spending by producers to mount and run shows; spending by theatre owners to maintain and renovate venues; and ancillary purchases by "Broadway Tourists," who the League defines as "non NYC residents who said that Broadway was a very important reason in their coming to New York City."