Broadway productions and the value of a Tony Award
Rent the article at a discountRent now
* Final gross prices may vary according to local VAT.Get Access
This article investigates the effect of a Tony nomination or win on the demand facing a Broadway production using a panel of weekly revenues for Broadway productions from 1996 to 2007. Our results indicate that the effect of a nomination or win is positive in the week of the announcement and gradually increases in successive weeks, presumably due to publicity and word-of-mouth. Winners experience an increase in demand as late as 1 year later when awards are publicized for the following season. Moreover, nominees that do not win the award are penalized heavily in the weeks following the Award announcements. We find that winning a Tony Award increases a production’s revenues by 12% in the week immediately following the Awards.
- Adler, M (1985) Stardom and talent. American Economic Review 75: pp. 208-212
- American Theatre Wing, http://www.americantheatrewing.org.
- Berry, S (1994) Estimating discrete-choice models of product differentiation. RAND Journal of Economics 25: pp. 242-262 CrossRef
- Bikhchandani, S, Hirshleifer, D, Welch, I (1992) A theory of fads, fashion, custom, and cultural change as informational cascades. Journal of Political Economy 100: pp. 992-1026 CrossRef
- Broadway League, http://www.broadwayleague.com.
- Broadway World International Database, http://www.broadwayworld.com/bwidb.
- Chiou, L (2008) The timing of movie releases: Evidence from the home video industry. International Journal of Industrial Organization 26: pp. 1059-1073 CrossRef
- Courty, P (2003) Some economics of ticket resale. Journal of Economic Perspectives 17: pp. 85-97 CrossRef
- Curtain Up, http://www.curtainup.com/mastridx.html.
- Vany, AS, Walls, WD (1996) Bose–Einstein dynamics and adaptive contracting in the motion picture industry. The Economic Journal 106: pp. 1493-1514 CrossRef
- Vany, AS, Walls, WD (1997) The market for motion pictures: Rank, revenue, and survival. Economic Inquiry 35: pp. 783-797 CrossRef
- Deuchert, E, Adjamah, K, Pauly, F (2005) For Oscar glory or Oscar money?. Journal of Cultural Economics 29: pp. 159-176 CrossRef
- Einav, L (2007) Seasonality in the U.S. motion picture industry. RAND Journal of Economics 38: pp. 127-145 CrossRef
- Ginsburgh, V (2003) Awards, success and aesthetic quality in the arts. The Journal of Economic Perspectives 17: pp. 99-111 CrossRef
- Internet Broadway Database, http://www.ibdb.com.
- Isherwood, C. (1998, June 15). Tony Tale: Success is everything. Variety, pp. 111–112.
- Maddison, D (2004) Increasing returns to information and the survival of Broadway theatre productions. Applied Economics Letters 11: pp. 639-643 CrossRef
- Moul, CC (2007) Measuring word of mouth’s impact on theatrical movie admissions. Journal of Economics and Management Strategy 16: pp. 859-892 CrossRef
- Nelson, RA, Donihue, MR, Waldman, DM, Wheaton, C (2001) What’s an Oscar worth?. Economic Inquiry 39: pp. 1-16 CrossRef
- Newman, A. (2005, December 29). Broadway’s numbers for 2005 are strong. New York Times, Section E, p. 1.
- Nygren, LM, Simonoff, JS (2007) Bright lights, big dreams—A case study of factors relating to the success of Broadway shows. Case Studies in Business Industry and Government Statistics 1: pp. 1-14
- Pincus-Roth, Z. (2008, February 7). Broadway or off-Broadway—Part I. Ask Playbill.com. http://www.playbill.com/features/article/114970.html. Accessed 10 April 2008.
- Playbill.com, http://www.playbill.com.
- Reddy, SK, Swaminathan, V, Motley, CM (1998) Exploring the determinants of Broadway show success. Journal of Marketing Research 35: pp. 370-383 CrossRef
- Riedel, M. (2004, June 11). It’s Puppetgate! ‘Q’ stiffs road for vegas bucks. The New York Post, p. 43.
- Rosen, S (1981) The economics of superstars. American Economic Review 71: pp. 845-858
- Ruud, PA (2000) An introduction to classical econometric theory. Oxford University Press, New York
- Simonoff, JS, Ma, L (2003) An empirical study of factors relating to the success of Broadway shows. The Journal of Business 76: pp. 135-150 CrossRef
- Talkin’ Broadway, http://www.talkinbroadway.com/world/past.html.
- Broadway productions and the value of a Tony Award
Journal of Cultural Economics
Volume 33, Issue 1 , pp 49-68
- Cover Date
- Print ISSN
- Online ISSN
- Springer US
- Additional Links
- Tony Awards
- Discrete choice
- Industry Sectors