Lin-Manuel Miranda’s Broadway smash “Hamilton” received an $30 million in pandemic relief from the federal government and has the potential of getting another $20 million in compensation.
The sensational musical tells the story of founding father Alexander Hamilton through historical rap. Miranda’s hit performed so well that it has five productions running simultaneously throughout the nation.
Each production is eligible to receive $10 million of lost earnings through the Small Business Association’s “Shuttered Venue Operators Grant” program, which accounts for $15 billion of the $900 billion COVID relief bill. The Broadway production and two of the U.S. tours have already been compensated $30 million, the other two tours are waiting to receive word if their funding will be approved.
According to “Hamilton” producer, Jeffrey Seller, the show itself is going to reap the benefits of the huge pandemic payout, not investors, producers, or the stars.
“Remember when Chrysler and GM were about to go bankrupt? In the same way that the federal government came in to bail out auto companies, it’s doing the same thing for all of show business with this legislation,” Seller said. “It’s returning us to health and it’s protecting the well-being of our employees.”
As of 2020, the production made more than a billion dollars revenue worldwide, during its five-year run. The show has made more than $600 million on Broadway along, and is the seventh highest-grossing musical of all time.
“‘Hamilton’ has spent many millions of dollars during a time in which it was earning no income,” Seller complained. “Our goal is for ‘Hamilton’ to be in the same financial position it was in when we suspended operations on March 12, 2020.”