We're pulling back the curtain on Prism's purpose-built solution for the incredible world of Broadway, developed in partnership with our top-of-market clients and industry leaders.
Creating Broadway Runs
Step 1: Click or drag to highlight a series of dates on the calendar:
Step 2: Fill out the information in the event builder:
Select or Create a Broadway Tour
Click the dropdown to add the events to an existing Tour/Run, or start typing a brand new Tour name and click 'Create New Tour "xxxx"' to spin up a new run, directly from the event builder.
If creating a new tour/run, enable the 'Broadway Tour' toggle, and specify how Prism should calculate commissions on each show:
Dates as Single Events
Check the box to create a separate, individual event on each selected date instead of placing multiple holds for a single event. This will enable commissions and box office reports to be tracked on each individual performance. Click 'Save' to create the separate events:
Commissions
Broadway commissions can be built directly into your templates, and updated on individual events. Total amounts will be auto-calculated at settlement, based off of the commission rate for each category, (Internet, Phone, Subs etc.) and the gross revenue amounts that are entered on each performance.
Commissions in templates
Tracking Commissions
Note that the gross potential on Broadway offers will be calculated off of the ticket scaling from all events in the run/tour:
For settlement, gross revenue is tracked by commission category on the individual events in the run/tour.
Enter the revenue amounts in the Commissions table under the 'Revenue' tab of each event to auto-calculate the nightly commissions and net gross for each category:
Royalties
Royalties can be configured to automatically calculate as a percentage of the NAGBOR, to be factored into a Production's settlement payout. To enable a Royalty on a Broadway deal navigate to the deal builder in the 'Talent' tab of the tour page:
At the bottom of the Bonus section of the deal builder click to enable the 'Royalty' toggle, which will default to the industry standard of 10%. Update the royalty percentage, as needed, and save the deal:
On the Broadway offer, the royalty will be calculated off of the Net Gross Potential across the entire tour, and at settlement, will calculate off of the actual ticket sales and NAGBOR:
Offer
Settlement
Tour (Fixed) Expenses
In all Prism Tours, there is a tour-level 'Costs' tab, to track Fixed expenses across an entire run.
A couple of things to note:
The tour-level 'Costs' tab is similar to the same tab on an individual event: there is a button to create a 'New Cost Group' and from there, you can add fixed costs line items by flicking the 'Create Fixed Cost' button.
They are only displayed (and factor into the math) on the tour-level documents, not on event-level documents.
They are only displayed (and factor into the math) on the tour-level documents if a tour deal is cross-collateralized. Cross-collateralized deals calculate the payout after all expenses and revenue instead of summing each show's payout.
NOTE: Broadway Tours/Runs will default to this setting, per industry standard.
Tour costs are labeled as "Tour" on tour-level documents, and on the tour-level internal settlement:
