Broadway Contributed Nearly $10 Billion to NYC Economy During 2008-09 Season

News   Broadway Contributed Nearly $10 Billion to NYC Economy During 2008-09 Season
The Broadway League released the 2008-2009 Broadway's Economic Contribution to New York City report May 13.

The report, which measures the "full economic impact of spending by Broadway production companies, theatre operators and those visitors drawn to NYC by Broadway," states that during the 2008-09 season, Broadway as an industry contributed $9.8 billion to the economy of New York City. This amount comprises spending in three areas: spending by producers to mount and run productions; spending by theatre owners to maintain and renovate venues; and ancillary purchases by non-New York City residents who said that Broadway was an important reason in their coming to The Big Apple (aka Broadway tourists).

The full contribution of Broadway tourists amounted to $7.7 billion; shows contributed $2 billion; and theatres $51 million, for a total of $9.8 billion. Broadway supports 84,400 jobs and generates $477.7 million in NYC taxes.

Charlotte St. Martin, executive director of The Broadway League, stated, "The new economic impact information for the 2008-2009 season about the contributions of Broadway to New York City reminds us of how important Broadway is to tourism. We have a strong partner in NYC & Company, the official marketing and tourism organization of New York - the world's greatest stage - and our collective efforts to keep tourism strong complement each other. With over 82% of Broadway's tickets purchased by theatergoers coming from outside New York City, it is especially meaningful to our city that during times of economic crisis, Broadway continues to deliver."

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