Musical plays can be a good investment
Yes, musical plays, with their creative sets and dazzling song-and-dance numbers, whether Broadway, London West End or Filipino productions, can by and large be a good investment, going by interviews with leading practitioners of theater as art, advocacy, or well, moneymaking venture.
In the experience of Tanghalang Pilipino (TP), a resident drama company of the Cultural Center of the Philippines (CCP), these plays have been profitable.
“Tanghalang Pilipino earned from most of our plays in the past 10 years,” says Fernando “Nanding” Josef, TP artistic director.
The top three plays that were financial hits were: Nicanor Tiongson’s “Mabining Mandirigma.”
Loreta Bucoy’s stage adaptation of Luis Gatmaitan’s “Sandosenang Sapatos” and Juan Ekis’ “Pingkian, Isang Musikal.”
“Mabining Mandirigma” is a “Steampunk Musical” directed by Chris Millado, with Joed Balsamo as composer. “Sandosenang Sapatos” was directed first by Tuxqs Rutaquio and then by Jonathan Tadiowan, with Joed Balsamo and Noel Cabangon as composers. “Pingkian, Isang Musikal” was directed by Jenny Jamora, with Ejay Yatco as composer.
“I also consulted with the TP finance team and the marketing, promotions and sales team, and they reported that the three productions earned almost 50 percent net profit from our theater performances,” Josef says.
Bring it on
“It also pays a lot that the artists featured in our musical plays are some of the most appreciated, multi-awarded artists with a huge following among our young people,” Josef adds.
The new TP season begins on Sept. 12 and will last until March next year.
“Pingkian”—which is about Emilio Jacinto and “Mabining Mandirigma”—will return, along with a new musical “Gregoria Lakambini.”
Tickets are selling fast, so bring it on.
“Our musicals have been profitable because we align ticket prices with the needs of our audience, especially students,” says Vincent “Vince” Tañada, artistic director of Philstagers Theater Foundation (PSF). “We make sure to provide quality productions at reasonable and affordable prices.”
The top three hits at the box office are: “Bayani Love” (November 2022 to May 2023); “Hero Z,” (October 2023 to May 2024), which ran for about 600 performances; and the more recent “Juan Luna, Isang Sarswela,” with 633 shows in just 10 months.
“This was made possible through partnerships with the education sector, which boosted support and audience reach,” Tañada says. “Strong linkages with both the education sector and private sponsors played a vital role in the success of our productions.”
Another potential bestseller is “Bonifacio ang Supremo,” which will go on nationwide tour soon and is expected to bring in financial dividends.
‘You have to work hard. . .’
Have musical plays been a good investment for 9Works Theatrical?
“The short answer to this—sometimes it can be, yes,” opines 9Works president Santi Santamaria. “It really depends on various factors such as market trends and behavior, the economy, etc,” he says.
He adds, “Just like in any business, there really isn’t one full-proof formula that guarantees you profitability. You have to work hard for it. Sometimes you’re profitable, sometimes not. But what fuels us … is the common passion and love for theater.”
Among the big financial hits was “Rent,” which sold out all its shows in the last five years. Another was “Eto Na! Musika nAPO!” Santamaria says, “Until now there’s a big clamor for us to do a rerun. Hey, that’s APO!”
9Works’ next major offering is “The Bodyguard” (opening on Sept. 26), a musical based on the cult film starring Whitney Houston and Kevin Costner. And hopes are high that it will be another winner.
Challenges
“The reality is that large-scale musicals carry very high overheads—freight, accommodation, flights, and touring personnel all add up,” said GMG Productions executive producer Samantha Sewell.
She adds, “At a venue of 1,870 seats with eight performances each week, we generally need to sell 50 to 70 percent of our inventory just to break even, let alone make a profit. That means it’s not enough to fill weekends—we need audiences coming in on weekday evenings as well.”
Two of “the most significant successes” for GMG Productions were the blockbusters “Hamilton” and “Miss Saigon.” “Hamilton” sold more than 142,000 tickets in its 10-week Manila run, while “Miss Saigon” sold nearly 108,00 tickets across seven weeks. Both shows achieved 99 percent capacity, with 1,870 seats filled across eight shows per week.
And “Les Miserables” will return to Manila in January. The unspoken hope is that this monster hit will keep the cash registers ringing all the way to the bank.
