LA MIRADA - City and theater officials will be taking a $500,000 risk with the next McCoy Rigby Entertainment Broadway season.
That's the extra money La Mirada has budgeted that will allow two musicals to be presented instead of the normal one. But it's a good decision, said City Manager Tom Robinson.
"Greater risk equals greater rewards," Robinson said.
Next year, McCoy Rigby plans on presenting "Les Miserables" and "Cats." As a result, the theater's fiscal 2013-14 budget for productions will increase from nearly $2.4 million to nearly $2.9 million.
However, revenue also is projected to increase by about $700,000 to more than $4.1 million. The theater's total budget for this year is projected at nearly $4.8 million.
Brian Kite, the city's theater director, said he believes adding a second musical to the series "" there are five shows in total "" is a good gamble.
"Here we have the opportunity to do two blockbusters," Kite said. "This will cost us more but we could make a lot more."
The other three shows in the season are smaller comedies and dramas and cost a lot less than a musical.
Kite said the strong performance a year ago of "Miss Saigon" also is another reason he's not as concerned.
"Miss Saigon" was after "Peter Pan" our second largest grossing show we've ever done and it's in the same style as "Les Miserables," he said. "People like those and respond to that."
The idea to do two musicals in one year came from Tom McCoy, co- executive producer of McCoy Rigby.
McCoy said he was contacted by the group that owns the rights to do "Les Miserables."
"We were the first (regional theater) to get the rights for "Les Miserables" after the (national) tour," he said. "That's a feather in the cap for McCoy Rigby and I couldn't turn that down."
The show also sells well and so does "Cats," McCoy said.
McCoy predicted that both shows will sell out at least one performance.
"Historically "Les Miserables" and "Cats" sell through the roof," he said.
"I'm not as concerned what it will cost to produce them," McCoy said. "I think the income will come in. These are "Peter Pan" and "Miss Saigon" in terms of sales."
McCoy said the two shows will end the 2013-14 season, allowing him all year to sell tickets for them.
"Cats" will be presented from April 18, 2014, to May 11, 2014 and "Les Miserables," will be presented May 30, 2014, to June 22.
The other three shows will be "Broadway Bound," Sept. 20 to Oct. 13; "Rabbit Hole," Oct. 25 to Nov. 17; and "God of Carnage," Jan. 24, 2014, to Feb. 14, 2014.
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