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Broadway theaters will likely be closed till Might 30th

A man wearing a surgical mask walks through Manhattan's Broadway Theater district after Broadway shows announced that they would cancel performances due to the coronavirus outbreak in New York on March 12, 2020.

Andrew Kelly | Reuters

Broadway will be closed until May.

The Broadway League, a trade organization that represents producers and theater owners, announced Friday that Broadway's 41 theaters will be closed until at least May 30th.

"With nearly 97,000 workers relying on Broadway for a living and an annual economic impact of $ 14.8 billion on the city, our membership is bound to reopen when conditions permit," said Charlotte St. Martin, President of the Broadway League. "We're working tirelessly with multiple partners to keep the industry going as soon as we open our curtains again."

Individuals who hold tickets by this date are advised to contact their point of sale for refunds or exchanges. Broadway has been closed since March 12th and it is unclear when the theaters will start operating again.

More than $ 1.83 billion in tickets were sold in the final Broadway season, from May 28, 2018 to May 26, 2019. This is the highest-earning season in history, according to an annual report published by the Broadway League.

The league has not yet released the numbers for the 2019-2020 season, which would have ended in May, but we do know that Broadway only made around $ 300 million in ticket sales in 2020 prior to the shuttering.

Broadway closings echoed far beyond the theater world. Tourists who travel to New York City to see musicals and plays contribute billions of dollars to the local economy when they pay for taxis, food, and hotel rooms.

People who come to the city from other states or countries account for 65% of annual ticket sales on Broadway. These visitors contributed approximately $ 11.5 billion to the New York economy last year.

Restaurants, hotels, shops, and public transportation accounted for around $ 8 billion of that spending.

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