The blockbuster "Hamilton" will gross an eight-figure sum during its six-week Minneapolis run through Oct. 7. But does that come at the expense of local theaters?
Alok Gupta, associate dean of faculty and research at the University of Minnesota's Carlson School of Management, says entertainment spending is a zero-sum game, meaning the millions plunked down on the show won't be spent elsewhere.
Gupta said he expects "the dollar spending on entertainment as a whole to go down a bit in the next few weeks. It is similar to having a movie release against a blockbuster, where the other movies' collections go down."
Others are not so sure. Some hope "Hamilton" is attracting first-time theatergoers who will develop a passion for the art form. Others say "Hamilton" is competing with other big-ticket events in the Twin Cities, including concerts and sports, rather than smaller theaters.
"I see 'Hamilton' as a special event. I think special events create their own type of energy and I don't see it as something that takes away from what we're doing," said Adam Thurman, Children's Theatre Company's director of marketing and communications. "We haven't seen any impact that we could tie to 'Hamilton.' It does draw a lot of mainstream attention and press attention, so you have to work a little harder to get your work seen, but we're getting our fair share of publicity."
Thurman said CTC and other theaters practiced dealing with a blockbuster earlier this year, when another entertainment monolith, the Super Bowl, swung into town.
"We were doing 'The Wiz' at the time. It turned out to be a fantastic event that sold very well, and we followed it up with 'Corduroy' and 'The Lorax,' which sold well in that same window," he said. "I really don't think people make those kinds of choices: 'I will see either "Hamilton" or "Last Stop on Market Street." ' [CTC's current production].' For one thing, 'Last Stop's' average ticket price is 25 bucks, so a family of four could see it for less than one 'Hamilton' ticket."
Actually, you could buy a subscription to the entire CTC season — or to any other theater in town — for less than one "Hamilton" seat, which currently goes for $300 and up.