Here is the paradox at the center of Broadway economics: the production that just broke the box-office record for a filmed stage musical was not built by anyone with the authority to greenlight it. It was built over 19 years by a Vermont folk singer who kept handing control to other people.
On the last weekend of July, the live capture of Hadestown opened on fewer than 2,000 screens. It took in $10.2 million, the largest opening ever recorded for a filmed Broadway musical, ahead of Hamilton. The distributor had booked it as a five-day event. Within 72 hours it announced an indefinite run. Its strongest per-screen results came from Huntsville, Salt Lake City, Eugene, and Boise: markets with no Broadway house at all.
I have spent a career focused on how the screen reshapes commerce—as President and CEO of The Museum of Television & Radio (now The Paley Center for Media), as Harvard Law School’s inaugural Visiting Professor of Entertainment and Media Law, and as a management consultant on entertainment and media industry strategies. What Anaïs Mitchell built with Hadestown is the clearest working refutation I have seen of the instinct that destroys founder-led ventures in various market sectors.
