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As our nation grows, the distribution of wealth becomes more and more uneven. The wealthy are able to see the Broadway productions that are popular while the poor aren't always given the same opportunities. I argue that Hamilton has been able to stay such a success even with high ticket prices because the audience gains much more out of the show than the money they would be saving.
Hamilton, although being well known for it’s incredible casting choices, songs, and story line, is also famous for its incredibly high ticket prices. Even though Hamilton tickets can cost upwards of $3,000, people are still spending money on this show compared to tickets for Waitress which are roughly $300 at most.
Hamilton, although being well known for it’s incredible casting choices, songs, and story line, is also famous for its incredibly high ticket prices. Even though Hamilton tickets can cost upwards of $3,000, people are still spending money on this show compared to tickets for Waitress which are roughly $300 at most.
According to TicketMaster the tickets in the rear mezzanine can cost between approximately $400-$550; the front mezzanine can cost between $700-$1500. And the front orchestra section costs between $570-$3,100. Obviously, the tickets are expensive. Although the cost of tickets varies, no matter where you get a seat the price is expensive. However, when reading the article titled, "I Paid $2,500 for a 'Hamilton' Ticket. I'm Happy About It", by New York Times, a reputable news source in NYC, written by Gregory Mankiw, a Harvard economics teacher, it explains that price-gouging the tickets have been able to keep the show a success because it is keeping the show aloft by the enormous price. When I looked further into the comment section of this article, many people disagreed with the price gouging of the tickets. They pointed out that while the show might be worth the money, it is still not morally right for the prices to be that high, especially when companies like Ticket Master (the middle man of the transaction) are making about 80% of the profits. Hamilton tickets are becoming a highly controversial topic, and even though there are raffles the day of shows for people to get free tickets, people are still complaining about the prices. But, for the past year, Hamilton has been able to stay on top even with the controversy because the people realize they are gaining much more than what their money can give them.
The price of the tickets is determined by the value of the show. Hamilton includes the fastest rap song in Broadway History, has won 11 Tony's, and includes a powerful cast. Hamilton’s ticket prices are much more expensive than other shows currently on Broadway because the audience gets more out of seeing Hamilton than it does by seeing other shows. People are therefore willing to pay the incredibly high prices because they know the experience they get from the show is worth the money. The audience is aware that when purchasing tickets voluntarily they are gaining more from the trade than they are giving.
Last I will research the history behind the musical which makes it so popular.
