The province of Ontario is subsidizing the Toronto Lord of the Rings musical with a $2.5M (U.S.) loan. As posted earlier, A.R. Rahman is composing the music, his theater sequel to Bombay Dreams. It promises to be the most expensive theater production ever:
Ontario’s officials – on behalf of their 12 million citizens – have signed on as investors for the show, which is expected to be one of the most expensive ever… the provincial government will contribute some $2.5 million of the show’s $23 million budget… The stage version’s $23 million price tag would make it more expensive than any show on Broadway. “The Lion King,” by comparison, cost Disney some $20 million…Air Canada has donated more than $1 million worth of airline tickets to help the creative team – which includes… an Indian composer, A. R. Rahman; and a Finnish folk music group, Värttinä – commute back and forth to Toronto…
Press materials circulated for the show call it “the biggest and most ambitious theatrical production ever staged,” promising a three-and-a-half-hour event that starts even before the curtain rises. (Hobbits are to prowl the aisles as the audience enters.) [Link]
The one fiscal conservative left in Canada was outraged:
… eight of every 10 Broadway shows fails to earn back their money… “This government is certainly creative when it comes to spending taxpayers money, but not when it comes to saving it…” Kheiriddin noted that the province dropped $1-million to get popular American talk-show host Conan O’Brien to host a week of TV shows in Toronto last year.
But Bradley said… $4.6-million in grants offered by the province following the SARS outbreak generated some $50-million for Ontario’s tourism industry. [Link]