Broadway Defying The Recession

They're shining bright again, but earlier this year things were starting to look dark for New York's theater business.

As CBS News correspondent Bianca Solorzano reports, Broadway is now close to breaking the bank, thanks to some big-name stars.

Even during a recession, The Great White Way is pulling off some dazzling performances. A record $943 million - more than any other season.

"We have 43 new shows opened, which is the most number of shows that we've had since the 1982-83 season," said Charlotte St. Martin, director of The Broadway League.

But just five months ago, it looked like Broadway was going bust.

"By the end of this month, more than a dozen Broadway shows also have closed," said CBS Evening News anchor Katie Couric during a Jan. 8, 2009 broadcast.

Even with the average ticket costing between $75 and $120, audiences weren't ready to give up on Broadway.

"People hold on to their affordable luxuries and theater is an affordable luxury," Martin said.

It seems the big-name stars may be drawn to the Broadway stage, which may be helping fill theater seats.

James Gandolfini, Jeff Daniels, Matthew Broderick, and Academy Award-winner Susan Sarandon are just a few of the Hollywood stars onstage right now. And it's about to get even hotter, when Hugh Jackman and Daniel Craig step out together.

"You know, Hugh Jackman is a Broadway boy. And then add Daniel Craig, 'Mr. Bond' himself, will be an amazing pairing," Martin said.

An amazing pairing that many think will break all records, even after a record-breaking year.
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