According to the Broadway League, the average ticket price for a Broadway show has hit a new record high.
The trade association — that is known for compiling various statistics and publishing extensive reports on a number of topics — revealed last season’s (2022-2023) ticket prices corresponded to more than $128. Increasing steadily since 1980, the $5 increase for a ticket in six years marked the highest since before the pandemic.
Industry professionals point to celebrity headliners, production costs, and a shift in consumers’ purchasing habits for the soar in ticket prices.
“Dynamic pricing is also a factor,” said Deeksha Gaur, executive director of the Theatre Development Fund, which sells discounted tickets through the popular TKTS booths in Times Square and elsewhere. “With tickets being purchased increasingly later,” said Hal Luftig, the Tony-winning producer, to Gothamist, “there is more price volatility, which can push prices higher due to a surge of last-minute demand.”
The 2018-19 season was the highest grossing and best attended season in recorded history, and the ticket price for a show averaged $123.87 at the time. Then, the 2019-2020 season saw $121.99 for an average ticket price, which reached $125.63 during the 2021-22 season, and eventually soared to $128.43 last season.
Additionally, last October, the National Endowment for the Arts (NEA) released findings from its research about the impact of COVID-19 on arts participation. It noted attendance for the arts hit levels that were lower than the pre-COVID average, with 48% of all adults attending at least one arts event in person. This is 6% less than what was reported in 2017.
Broadway League data refers to the decrease in attendance as well. Attendance remains about 17% lower than its pre-pandemic highs.
According to Broadway League’s “The Demographics of the Broadway Audience” report, derived from the theatergoers that attended Broadway shows from June 2022 through May 2023, respondents paid an average of $161.20 per ticket, with 20% of theatregoers working in New York City. The average annual household income of the Broadway theatregoer was recorded as $271,277 in the very same report. It includes information regarding the demographics, ticket purchasing habits, and consumer preferences of the average Broadway theatergoer.
Several Broadway shows’ ticket prices vary from $115 to $125 without service fees on broadway.com, such as & Juliet, Hamilton, The Lion King, and Wicked. Fans can also check secondary marketplaces to compare prices by visiting MegaSeats (use code “TICKETNEWS” for 10% off), StubHub, or Ticket Club, where members can receive a free membership with the code “TICKETNEWS.”
