“Winner Takes All”: The Commercialization of Creativity

Publication Date

10-2025

Presentation Length

15 minutes

College

College of Music & Performing Arts

Department

Theatre and Dance, Department of

Student Level

Undergraduate

Faculty Mentor

Dr. James Al-Shamma

Presentation Type

Talk/Oral

Summary

Over the past two decades, Broadway has shifted toward a high-risk, venture-capital-driven financing model characterized by steep production costs and a reliance on private investment. This paper investigates how this economic shift has fostered an “all-or-nothing” ecosystem that prioritizes proven intellectual property over original artistic risk. Through a comparative analysis of the massive commercial successes of Wicked (2024 and 2025) and Hamilton (2020) against the critical and financial failure of the 2019 Cats film adaptation, this research illustrates the precarious nature of "safe bet" investing. Drawing on industry financial data and Elizabeth L. Wollman’s theories on theatrical historiography, the study demonstrates how the pressure for outsized returns, driven by cross-media licensing and global brand expansion, marginalizes experimental productions. Findings suggest that megahits provide a template for astronomical profitability, while an aversion to creative risks remains, threatening the long-term diversity of the theatrical canon. Ultimately, this paper concludes that if current financing logic remains unchallenged, the future of Broadway risks becoming a narrow landscape of brand-driven franchises rather than a fertile ground for original storytelling.

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