“Spider-Man: Turn Off the Dark” has now spent $75 million on the show. This makes it the most expensive show ever created for Broadway, costing almost twice as much as any in history. The show’s financial statements make for interesting reading.
The statements were submitted to the New York State this week and according to reports in the New York Times “Spider-Man” spent $9 million on sets costums and shoes. The Tony winning Broadway show “The Book of Mormon” cost $9 million for the entire production.
“Spider-Man” spent $1 million on lawyers and $6 million on stagehands and has operating costs of about $1 million per week.
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The producers have acknowledged that with such high expenses and its current earning level it will need to run for seven years to recoup its investors cash.
Michael Cohl, one of the lead producers, said “The bad news is that it was very expensive and the good news is that we will not quit and we will make this a success and that’s that.”
He added “Everything about this show is unusual…Most Broadway shows don’t cost $20 million, let alone have a loan for $20 million.”