Start spreadin’ the bad news.
“New York, New York,” the Broadway musical based on the Martin Scorsese movie, is on its last legs, sources told The Post.
A person close to the production said the end of the poorly received nostalgia show at the St. James Theatre could come as soon as this month.
It would finish its run as the season’s biggest flop.
According to a source with knowledge of its finances, “New York, New York” was capitalized at $27 million and costs a hefty $1.2 million per week to run.
Given that eye-watering price tag, combined with low attendance and word of mouth somewhere at the bottom of the Hudson, the musical has struggled at the box office.
Last week’s gross was a rough $770,000, with a low average ticket price of $75 and only 76% of seats filled.
Free comp tickets have rained down in Times Square like New Year’s Eve confetti.
“It’s that or a sea of velvet,” a source said.
A spokesman for “New York, New York” had no comment.
“New York, New York” took the little-remembered 1977 film — which starred Liza Minnelli and Robert De Niro and introduced John Kander and Fred Ebb’s famous “I want to be a part of it!” anthem — and spun the story into a tale of immigrants trying to make it big in NYC. The end result is hokey and overlong.
Directed and choreographed by Susan Stroman (whose “Crazy for You” in London is far better), the musical features nine new songs from Kander and “Hamilton’s” Lin-Manuel Miranda — in addition to many tunes from the movie and the Kander and Ebb trunk — and stars Tony nominee Colton Ryan and Anna Uzele.
The Post compared the show to “being stuck on the tarmac at La Guardia,” while the Times called it “surprisingly dull.” The musical received nine Tony nominations and won just one, for set design.
Sonia Friedman, Tom Kirdahy and the other producers, I’m told, were initially bullish on their chances of becoming an approachable tourist attraction on Broadway, even in the wake of terrible reviews that they did not see coming.
But in recent days, the team has changed their tune and feel the likelihood of “New York, New York” turning into a hit is “wobbly,” a source said.
They’re right.
This weekend I witnessed one comp ticket recipient, who was longin’ to stray, give away her two seats to a random tourist at a bar after skimming the reviews.
One thing is clear: The post-pandemic struggles for Broadway are nowhere near over. “New York, New York” joins “Camelot” (closing July 23), “Bad Cinderella,” “Almost Famous,” “KPOP” and “Dancin’” as yet another costly musical to close earlier than anticipated — as a flop.
And while that crop of shows was partly hurt by negative reviews, sources said a few critical darlings are eyeing September end dates.
One could be “Some Like It Hot” at the Shubert, whose grosses have more ups and downs than the Cyclone in Coney Island. Having lost Best Musical to “Kimberly Akimbo,” and with a weekly running cost of some $950,000, it will be hard to stay hot all summer.
Broadway must now face facts — they have created a landscape where most musicals can only make a profit by selling exorbitantly priced premium tickets, which overflowed their coffers for a while. Post-pandemic, nobody is willing to spend that kind of money anymore.
Either way, it’s clear “New York, New York” will not be a long-term resident of … New York, New York.
“Whenever you hear any version of ‘This is the love letter to New York we need,’ that is a sure sign of a huge flop,” a source said.
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