Back in October it was revealed that one-time Oscar winner Al Pacino was making a guaranteed $125,000 per week starring in Glengarry Glen Ross on Broadway. While two-time Oscar winner Tom Hanks might not be making that much as a base salary for his Broadway debut in Lucky Guy, I think it’s fair to say the title of the play reflects his earning prospects quite well.
Bloomberg reports that Hanks will make a guaranteed $75,000 per week starring as New York newspaper reporter Mike McAlary in the play by the late Nora Ephron. However, that number is based on the minimum Hanks could make based on the 12.5 percent of the weekly box office that he will receive. If all shows are sold out in one week, Hanks would earn $150,000 — and that’s not counting his undisclosed share of the profits!
Tickets to see Hanks in his Broadway debut don’t come cheaply — currently the top price is $350. But even at those prices Lucky Guy will have to sell about 80 percent of the house in the first 15 weeks in order to break even for the investors. Not surprisingly, Hanks’ weekly guaranteed take rises to $100,000 if investors turn a 15 percent profit in any given week.
What more, if the play’s run is extended after Hanks leaves the production he will continue to earn 2 percent of the weekly box office, meaning that he could potentially earn $20,000 a week without needing to show up. This practice is relatively new, since many star-driven shows close once the star leaves the production (the recent production of Death of a Salesman didn’t continue after star Philip Seymour Hoffman left, nor did Glengarry after Pacino’s run). But since Lucky Guy is a new play it is expected to continue running after Hanks leaves (shows are currently scheduled through June 16, and Hanks, though whether Hanks will remain in the production that long has not been disclosed).
Only time will tell if Hanks’ high price tag is worth it for investors, but for Hanks certainly has no reason to worry!