\'Once\' Turns a Profit, Faster than Most

By PATRICK HEALY

The Tony Award-winning musical “Once” has recouped its $5.5 million capitalization costs on Broadway in less than six months, the producers announced on Monday, becoming one of the few shows to turn a profit and doing so faster than most.

The musical's box office success â€" grossing more than $1 million a week since mid-June â€" is unusual given that the show is unlike most Broadway hits: Rather than a high-kicking crowd pleaser with big-name talents attached, “Once” is a low-key and somber tale of lost love, starring largely unknown actors and featuring minimal sets and non-traditional choreography. Yet “Once,” based on an indie film of the same name from Ireland, enjoyed strong reviews from critics and prominent television exposure on “America's Got Talent” and other programs after winning 8 Tonys â€" including best musical and best actor â€" in June.

Only about 30 percent of shows ever turn a profit on Broadway, most needing a year or more, though one of the biggest money-makers of recent theater seasons, “The Book of Mormon,” recouped its $11.4 million capitalization last year in just nine months. “Book of Mormon” recouped quickly in part from charging premium ticket prices of up to $477; the top premium ticket for “Once” is $275, with only a relative handful of tickets selling at that price so far.

The producers' statement said that “Once,” which began running in late February, recouped in 21 weeks after 169 performances. The producers said the pace was faster than any other new musical in more than a decade â€" an apparent reference to the musical “Rent,” which recouped its original capitalization almost immediately in 1996. But the 2005 musical “The 25th Annual Putnam County Spelling Bee,” for one, recouped its $3.5 million capitalization in just 18 weeks.

The “Once” producers have benefited from relatively low weekly running costs; they have never said how much the show costs to run each week, but it is believed to be in the mid-six figures. A spokesman for the show said that the advance ticket sales for “Once” were “very healthy” â€" he declined to provide a figure â€" and said that its stars, Steve Kazee and Cristin Milioti, were on contract to stay with the show until at least March 2013.