[ta_1138]

It's not that they lost all of them, but that they make far less money, while the top performers in NYC do well.

It's not unlike what happened to soccer as television got cheaper and cheaper: You can go watch your town's third division team, or you can watch Real Madrid play on TV. In 3rd division nobody can be professional, in 2nd division you make less money accounting for inflation than 30 years ago, but the top players in the top teams are even bigger stars, now that the entire world can watch them play every game.

And on theater, let's not forget that many parts of the spectacle are almost impossible to take on the road. You aren't going to feed a production of Phantom of the Opera in a small town for 3 months: National tours rely on 2 weeks per large-ish metro. And when you are only going to stay there for 2 weeks, there are things you just can't get away with, economically speaking. The equity Hadestown tour would need to remodel way too much to accoout for the lift on broadway. The non-equity tour, which plays even shorter windows, can't even rely on the turntable on the floor. The car in Back to the future isn't going to fly over the audience, do half as much movement, or get fire effects on the scenario.

And even if you look in Broadway itself, many don't recoup their own costs. For every Hamilton or Lion king there are many shows that don't last 6 months.