The Tony Awards® are coming up this Sunday and, once again, City National Bank is a top performer as the official Bank of the Tonys. The awards are televised June 11 and hosted by Kevin Spacey for the first time.
This is the fourth year in a row that City National has sponsored the event.
"City National continues to be the leading bank to Broadway, providing banking services for more shows than any other bank," said City National's Stephanie Dalton. She and Erik Piecuch run the theater group under New York Entertainment Banking. Richard McCune oversees Entertainment Banking in New York, Nashville and Atlanta.
City National, which opened its first New York office in 2002, currently banks over half of all Broadway shows, including Bette Midler's smash-hit "Hello, Dolly!" as well as "Groundhog Day," "Dear Evan Hansen," "Sunset Boulevard," "School of Rock" and "Beautiful: The Carole King Musical."
"Sponsoring the Tonys is a wonderful honor for City National. Broadway is the creative inspiration for great American theater and we are thrilled to bank so many Broadway shows, their production companies and the individual producers who finance them," said Samantha Davies, senior marketing manager at City National.
City National Chairman and Chief Executive Officer Russell Goldsmith will appear on stage at the event as a presenting sponsor of the Creative Arts Awards, which honor achievements in behind-the-scenes categories such as lighting and costume design.
The following Tony-nominated shows are banked by City National:
- "Hello, Dolly!" – 10 nominations
- "Dear Evan Hansen" – nine nominations
- "A Doll’s House, Part 2" – eight nominations
- "Groundhog Day" – seven nominations
- "Indecent" – three nominations
- "Present Laughter" – three nominations
- "Sweat" – three nominations
- "Bandstand" – two nominations
- "Six Degrees of Separation" – two nominations
- "The Front Page" – two nominations
- "The Glass Menagerie" – one nomination
- "The Present" – one nomination
Broadway box office receipts have hit record levels in recent years. Trends driving that success across all Broadway shows include:
- Star power: Major celebrities are booking limited runs on Broadway, including Glenn Close in "Sunset Boulevard," Jake Gyllenhaal in Stephen Sondheim's "Sunday in the Park with George," Kevin Kline in "Present Laughter" and Bette Midler in "Hello, Dolly!"
- Major brands: Large studios are reimagining movie and book titles on Broadway, including shows such as "Groundhog Day" and "Charlie and the Chocolate Factory."
- Tourist sales: Out of town visitors to New York City make up a significant component of total Broadway ticket sales.
- Long-running shows: "Hamilton" "The Lion King" and "Wicked" are favorites that have grossed over $1 million in a week, becoming brands with years-long revenue from touring companies, popular soundtracks and merchandise.
"It's so vital that people put down their devices, leave their virtual worlds and enjoy the shared experience of watching live theater," said Piecuch.
No one knows yet which shows will take New York by storm in the upcoming 2017-2018 season. But Dalton and Piecuch said that these developments already have the Broadway community buzzing:
"Harry Potter and the Cursed Child," an expansion of J.K. Rowling's wizarding world, is set to open next spring at the Lyric Theatre. The show is one play presented in two parts that can be seen on the same day (matinee and evening) or on two consecutive evenings. The show, which debuted in London, is introducing a whole new generation to the stage.
Disney's "Frozen: The Musical" is slated to join the Broadway roster in 2018.
City National Bank banks not just theater production companies but also many of the high-net-worth investors who fund new productions.
Along with Dalton and Piecuch, City National's Broadway banking team includes Michele Gibbons, Anne McSweeney and many product partners across the bank who support the industry.
Tony Awards is a registered trademark of the American Theater Wing, Inc., New York