'Hamilton' producers and cast strike deal to share profits
The producers of Lin-Manuel Miranda's Broadway sensation Hamilton settled an ongoing deal to share profits with the show's original cast members on Friday, The New York Times reports.
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The agreement between both parties was announced by Ronald H. Shechtman, a lawyer who represents a number of actors, dancers and other stage performers involved in the Hamilton production. In a statement obtained by the Times, Schechtman clarified that actors will now be offered some of "the profit stream from the play."
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The Hollywood Reporterpreviously reported that the hip-hop musical grosses about $1.5 million weekly in ticket sales, with 40 percent of that going toward renting the Richard Rodgers Theatre, covering salaries and other miscellaneous expenses. As the musical's sole author, Miranda receives a 7 percent cut of the gross in weekly royalties (on top of his salary for starring as Alexander Hamilton), while producers Jeffrey Seller, Sander Jacobs and Jill Furman split a 3 percent share, plus a weekly $3,000 administrative office fee.
Though no further details have been disclosed, the deal could spark a wider discussion about profit-sharing throughout the theater industry, on shows such as Disney's upcoming Frozen musical. Members of Actors' Equity, a labor union representing theater performers and stage managers, are rallying against the lack of added compensation for actors originating their roles in the Disney production in light of Hamilton's settlement news.
This article was originally published by The Hollywood Reporter
Take a look at the cast of Hamilton:
