Since Broadway business is getting swelled up, producers have decided to give share of their profit with performers. On February 8, 2019, there has been an agreement. According to which commercial producers that provide huge amount of capital for the biggest hits have agreed in sharing the profits with performers who give their level best to bring up successful shows.
The deal has been made between Actors’ Equity which is a union that has nearly 51,000 performers and stage coordinators and Broadway League which is a union for the producers. Financiers of the industry have agreed that the performers not only provide physical labor but also come up with creative ideas for musicals and plays. Successful shows bring huge profit for producers, stars and directors. If the agreement is executed, supporting actors and dancers would be able to concentrate entirely on their performance and leave any survival jobs like housekeeping or waiting tables besides shows.
Union’s executive director Mary McColl said she understand that how difficult it is to put up a perfect show. This deal has also brought a 5-week strike to an end. In the strike, the union had ceased members from helping or participating in works concerning commercial development for bigger shows. Equity demanded that members generally always take part in development along with the producers. Therefore, the stage actors and stage coordinators deserve part of the profit. The profit would run for a decade and would also include the amount received by touring productions.
The deal also implies a salary hike for actors and stage coordinators who help in show development works. Charlotte St. Martin, president of Broadway League said that producers were fine with the agreement. In fact, they were happy to get back to work and the closure of the strike. She is happy with the new turn in the business.