Original ‘Hamilton’ Actors Will Bank On Profits From Broadway’s Blockbuster Musical

Actors who participated in the development of Hamilton will be compensated for their contribution under an agreement announced Friday between lead producer Jeffrey Seller and Ronald Shechtman, a prominent New York City labor lawyer. The agreement, Shechtman told Deadline, “is made compelling by setting another precedent in the evolution of actors participating in the success of a show they helped to develop at a time when revenues are so much higher than ever before.”

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“It was not an adversarial process,” added Shechtman, a managing partner at Pryor Cashman LLP. “The resolution we reached came ultimately from a common ground shared by both the actors and producer Jeffrey Seller.”

Hamilton opened last summer on Broadway after a sold-out run at the Public Theater significantly underwritten by Seller and his partners. It has gone on to become the biggest hit in years, often grossing $1.7 million each week before credit card and other fixed fees at the Nederlander Organization’s Richard Rodgers Theatre. After payment of rent, royalties and other expenses, the musical is generating profit of nearly half the gross. The show already has repaid its total capitalization of $12.5 million and boasts advance ticket sales of over $60 million.

Source : https://deadline.com/2016/04/original-hamilton-actors-profit-from-broadway-blockbuster-1201738933/#!

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