NEW YORK – “We’re just inches away,” says James L. Nederlander. After 90 weeks of Broadway biz, “Movin’ Out” looks to recoup its $10 million capitalization in early August.
“It’s just a couple hundred thousand dollars,” the producer adds.
The Billy Joel/Twyla Tharp show might have been expected to go into the black sooner. It breaks even in the low $400,000s and has grossed more than $600,000 most weeks.
“We wanted people (to experience) it visually, so we did a great TV commercial,” Nederlander says. “And we’ve done a lot of TV, which costs a lot each week.”
The 22-month recoupment time for “Movin’ Out” is in line with the 24 months it took “Aida,” but far over the six or seven months for “The Producers” and “Hairspray,” which always sold out early in their runs.
Meanwhile, “The Boy From Oz” and “42nd Street,” latter going into its fourth year, have yet to pay back. A rep for the two shows said they were expected to recoup before their respective shutter dates. “Street” closes in early January; “Boy” has less time, going bye-bye Sept. 12.