The Playgoer: The Nonprofit Takeover of Broadway, cont.:
The company's Executive Director Ellen Richard--formerly of the, ahem, Roundabout--puts the risks refreshingly bluntly:
“As you get bigger and more successful, the stakes go up, and everybody wants more from you,” said Ellen Richard, Second Stage’s executive director. “The artists want more — bigger shows — it’s harder. If you have a 10 percent loss on a $1 million budget, it’s $100,000. If you have it on a $15 million budget, it’s lot more.” The company’s annual budget, which is expected to double, is currently about $7.5 million."
And, as the article reports, the purchase of the Hayes itself will require a $35 million fundraising campaign.
Talk about that corporate-influenced "grow or die" mentality, eh? Something that's received a lot of attention lately, through Mike Daisey's "How Theatre Failed America" as well as some recent articles reporting the "edifice complex" of our more "successful" regional theatres. I believe, in his show, Daisey even characterizes the philosophy as something like, "Nothing proves your success to the world more than building a new building." As opposed to actually producing good work, that is.