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The producers and actors aren’t the only ones making bank off of Broadway’s hottest show.
‘Hamilton’ is sold out through January 2017, and scalpers are reaping the benefits of Lin-Manuel Miranda’s runaway success. Matt Rousu, an economics professor at Susquehanna University, told Bloomberg that ticket resellers can make as much as $30,000 per show, for a grand total of around $240,000 every week. That adds up to $12.5 million per year.
Tickets are going for thousands of dollars on resale sites, due to the unprecedented demand to see the hip-hop musical. Just how popular is it? According to the show’s Twitter account, at least 50,000 people tried to enter the online lottery for lower-priced tickets the day when it launched in January, crashing the lottery website.
The show, which has been nominated for a record-breaking 16 Tony Awards, has reached advance ticket sales of over $80 million. The show itself is turning $500,000 in profit every week, reports the New York Times Magazine.
And all that cash isn’t going unnoticed by the show’s producers, who are considering upping premium tickets prices to just shy of $1,000, reports the New York Post.