Broadway contributed $21 billion to the New York City economy during the 2024-2025 season, supporting 114,600 full-time equivalent jobs and generating $979 million in taxes for the city, even as production costs have soared over the past six years.
Those figures come from the Broadway League‘s latest annual report Broadway’s Economic Contribution to New York City 2024-2025, published today. This year’s analysis finds that, as usual, most of the economic spin-off was associated with Broadway tourism, with “Broadway Tourists” spending nearly $12 billion on ancillary activity.
In a statement, Jason Laks, president of The Broadway League, said, “Millions of visitors travel here specifically to experience the extraordinary artistry and talent on display in live theatre, and they also support local restaurants, hotels, stores, taxis, and other attractions. Broadway remains a magnetic force and economic engine for New York City but faces significant challenges as production costs and operating expenses continue to rise. The League will continue to advocate for solutions that keep the magic of Broadway alive and accessible.”
The report found that the cost of producing a Broadway show – the 44 new shows running during 2024-25 cost a total of $418 million to produce – was up 39% since 2018-19 where there were 39 new shows. Total direct expenditures (production and operating costs combined) totaled $1.9 billion, an increase of 7% during the same period.
Some additional findings in this year’s report:
- Broadway Tourists (identified as non-New York City residents who say Broadway was very important in their decision to visit Manhattan) spent nearly $12 billion on ancillary activity, a 22% increase in spending since 2018-19, with the largest spending on hotels and food and drink;
- Such tourists account for 79% of theatergoers from the NYC suburbs, 73% of domestic tourists from outside of the metro area, and 59% of international tourists;
- International visitors accounted for 19% of Broadway Tourists but contributed 42% of the total money brought into the city;
- Broadway generated $979 million in taxes to New York City;
- In total, Broadway supported 114,600 full-time equivalent jobs in New York City, including direct Broadway employment and workers in other industries that benefit from Broadway-motivated visitors.
The annual report is published by The Broadway League, the national trade association for the Broadway industry including producers and theater owners and considered the clearinghouse for information on the business, demographics, and economic impact of Broadway theater throughout North America. The League compiles various statistics and publishes extensive reports on a number of topics. The new report can be purchased here.