Purpose, Branden Jacobs-Jenkins' play that dominated last year's awards season, has officially recouped its entire $5.25 million Broadway capitalization. The announcement came today.
Purpose won a Tony and a Pulitzer Prize. Under the direction of Phylicia Rashad, the play became a significant Broadway event.
The show closed on Broadway more than nine months ago and has already turned a profit. According to reporting from Deadline, producers revealed that recoupment was achieved with help from New York State Tax incentives.
Recoupment in theatre is rare. Most Broadway shows never see their initial investment returned, let alone in less than a year after closing. Purpose achieved this result.
A serious, award-winning play recouping its capitalization while Broadway's balance sheets are perpetually in the red is uncommon. Jacobs-Jenkins, Rashad, and the team behind Purpose demonstrated that a critically acclaimed play with audience appeal can achieve financial success on Broadway.
