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-The Russian economy has been dealing with growing headwinds this year: unruly inflation, a ballooning budget deficit – due in part to massive military spending – and shrinking revenues from oil and natural gas.
+High production costs, flat ticket prices
-[[https://tripscan60c.cc/|tripscan top]]
+Data from the Broadway League show the industry had its highest-grossing season in a decade this year, with over 14 million people attending shows.
+[[https://trips62.cc/|tripscan top]]
+However, none of the 18 musicals that opened last season, made a profit as of late September, according to the New York Times. Laks said the prevailing wisdom for the industry is that only one in 10 shows will make their money back.
+[[https://trips62.cc/|tripscan]]
+For example, producing “Boop” — the colorful show centered around Betty Boop in modern New York City — cost around $26 million. The musical ran for about four months this year and, according to the Times, failed to recoup its investment.
+[[https://trips62.cc/|tripscan top]]
+“It’s just so difficult for (producers) to get their money back. These shows are now upwards of $25 million. Ten years ago, you could have a musical on Broadway that was probably in the $13 million range,” said Jim Kierstead, a Broadway producer whose over two dozen credits include “Kinky Boots” and “Waitress.”
-Economic growth has also slowed sharply. But the gathering economic storm is unlikely to bring President Vladimir Putin to the negotiation table anytime soon to end the war in Ukraine. Analysts say the Kremlin could weather it for many more years at the current pace of fighting and with existing Western sanctions in place.
+While producers have seen their budgets grow, ticket prices haven’t kept pace, according to Laks. The average ticket price is currently $126, while the average ticket price for the 2015-2016 Broadway season was about $103, or about $140, when adjusted for inflation.
-[[https://tripscan60c.cc/|tripscan top]]
-“If you look at the economy itself, it’s not going to be that ultimate straw that breaks the camel’s back,” said Maria Snegovaya, a senior fellow for Russia and Eurasia at the Center for Strategic and International Studies (CSIS), a think tank. “It’s not catastrophic. It’s manageable.”
+But the solution isn’t as simple as raising ticket prices.
-[[https://tripscan60c.cc/|tripscan]]
-Looking at the next three to five years, Russia could carry on fighting, she said, noting that it’s hard to make a reliable assessment beyond that.
+“There’s only so high you can raise them because you’re really pricing people out of the market,” said Kierstead. “It’s just a bad conundrum across the board.”
-And a contingent of exiled, anti-Putin Russian economists believes the war of attrition could continue even longer because the Kremlin’s ability to wage the war is “unimpeded by any economic constraints.”
-Western sanctions have not inflicted enough pain on Russia’s energy-focused economy to change Moscow’s plans for the war, Richard Connolly at the Royal United Services Institute (RUSI) told CNN.
-“As long as Russia’s pumping oil and they’re selling it at a fairly reasonable price, they have enough money to just muddle along,” said the senior fellow in international security at the UK-based think tank.
-“I’m not saying it’s a really rosy picture for them, but they’ve got enough for the economy not to be a factor in Putin’s calculus when he’s thinking about the war,” Connolly added.