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Freakonomics Radio

630. On Broadway, Nobody Knows Nothing

Freakonomics Radio

Freakonomics Radio + Stitcher

Documentary, Society & Culture

4.6 β€’ 32K Ratings

πŸ—“οΈ 18 April 2025

⏱️ 62 minutes

🧾️ Download transcript

Summary

A hit like "Hamilton" can come from nowhere while a sure bet can lose $20 million in a flash. We speak with some of the biggest producers in the game β€” Sonia Friedman, Jeffrey Seller, Hal Luftig β€” and learn that there is only one guarantee: the theater owners always win. (Part two of a three-part series.)

Transcript

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0:00.0

The people who make theater exist in a sort of parallel universe. From inside this universe,

0:11.1

it can seem vast. There are so many projects. The work itself is so immersive. And let's be

0:18.2

honest, there is a lot of gossip to keep up with. But in reality, theater is a tiny universe.

0:24.5

When you compare it to all the other flashier forms of entertainment like TV and film, live music and sports, video gaming, the theater universe looks like a distant and dimming star.

0:37.4

And yet, believers still believe. And every now and then,

0:44.0

someone takes a shot that is so unlikely, so audacious. And if that shot lands, it rejuvenates the

0:52.1

whole enterprise and makes the larger world take notice.

0:56.2

In other words, this tiny universe really can produce one singular sensation.

1:02.1

I'll start from a personal note.

1:04.4

My son had been on vacation and he came back and we're 15 blocks apart.

1:15.2

So usually comes for breakfast and says,

1:18.6

well, my next show, it's Hamilton.

1:22.3

And I'm like, the secretary of the treasury of the United States of America?

1:30.8

It's like, yes, I just read this amazing, and as I'm reading it...

1:37.2

This is the Ron Chernow biography of Hamilton, correct?

1:40.2

Of Hamilton, correct.

1:41.3

He's telling the story to my wife and I.

1:44.3

I see hip-hop singers jumping off the pages in my head.

1:51.1

I was like, he went crazy.

1:58.5

That is Luis Miranda Jr.

2:01.4

His son is Lynn Manuel Miranda.

2:04.0

I tell my wife, you got to read this book because you understand that this is a journey.

...

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