LICENSING REVENUE STREAMS & EXPENSES
Weekly License Fee: Total $55,000/week when fully booked
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399 seat theater: $16,000/week
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249 seat theaters: $13,000/week
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199 seat theaters: $10,000/week each (two theaters)
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99 seat theater: $ 6,000/week
Theater Share: 5% of Gross Weekly Box Office Charges (GWBOR) Standard procedure for theater owner to receive 5% of weekly box office receipts. While full price tickets will likely be listed at $65 to $100 each, discounts (via TKTS, email blasts and TDF) are often in play. So, this analysis assumes a conservative $51/ticket based on the weekly grosses provided by the Off-Broadway League to its members.
Credit Card fees: The customer is charged a $5 fee in addition to the ticket price for all box office phone orders. This analysis assumes a conservative 15% for phone orders.
Facility Fee: ($3 per ticket) a charge imposed by the theatre owners to renovate and provide maintenance for the theaters. All Broadway and Off-Broadway theaters charge a facility fee in addition to the face value of the ticket.
Concessions: Theater owner operates bars/concession stands and procures a full liquor license. This analysis assumes a very conservative $4/per person concession fee. Bar revenue for The Office, currently selling out in the Jerry Orbach Theater at the Theater Center, averages $5-$7/person.
CORPORATE SPONSORSHIP/SIGNAGE
Revenue may also be derived from corporate sponsorship capital. An important example of such a sponsorship deal was secured in May of 2005 for a theater complex at 1627 Broadway – named The Snapple Theatre Center – Off-Broadway’s first corporate-sponsored theater.
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Estimated Revenue for corporate sponsorship (annual): $180,000
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ROOFTOP BAR
Atop the center will be the roof garden, an additional event space with a spectacular view of Manhattan ideal for receptions, opening night parties and other special events. The conservative annual estimate is based on use of the roof even months of the year at an estimated revenue of $20,000/month.
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Estimated Revenue (annual): $140,000
THEATER NAMING RIGHTS
Revenue can be provided by naming each of the five theaters and six studios.
The Jerry Orbach Theater at The Theater Center (home of The Fantasticks) was named in partnership with Dick Wolf and Wolf Films, who provided a generous stipend in return for naming the theater for the distinguished Law & Order/Broadway/film actor and original Fantasticks star in 1960.
The Anne L. Bernstein Theater was named in return for a generous stipend from the noted philanthropist and theater
lover Anne L. Bernstein.
Estimated Revenue from Theater/Studio Naming (annual): $20,000 - $30,000 year/per theater or one lump sum per theater for 20 years
CORPORATE CONFERENCES
Each of the five theaters and the studios at 49 Stages will be available during non-performance and non-academy days and hours for corporate conferences and meetings. Each theater will be equipped with a screen, projector, monitors and wireless mics to facilitate corporate meetings and conferences. The conservative estimate below is based on 4-6 conferences per month at $10,000 - $15,000 per conference.
Estimated Revenue (annual): $720,000 (5 conferences/month @ $12,000 each)
STUDIO RENTAL
The four studios at 49 Stages will be rented on a daily, weekly or monthly basis to producers rehearsing Broadway and Off Broadway shows. Currently the two studios at the Theater Center generate between $270,000-$340,000 per year. The conservative estimate below is based on 4 studios generating $9,000/week for 75% of the year.
Estimated Revenue (annual): $351,000
SPECIAL EVENTS: WORKSHOPS, SHOWCASES, READINGS
Each of the five theaters and the studios at 49 Stages will be also be avaible during non-performance hours for special events, workshops and readings. The Theater Center’s two 199 seat theaters currently host over 15 workshops, readings, video shoots, university showcases, podcasts, commercial shoots and fashion shows a month. Many more events cannot be accommodated due to the lack of available dates. The conservative estimated annual income below is based on 15 events per month.
Estimated Revenue (annual): $630,000