Broadway industries, Ltd, the financial wing of New York’s Broadway theaters has released his forecasted financial report for 2008, and things don’t look so good. According to today’s announcement, Broadway is expecting a 1.5 million dollar pre-tax loss in 2008.

A slow economy is thought to be the main cause for the huge deficit, which should not be construed as a lack of interest in theater or the arts in the Big Apple. The report further proclaimed that Broadway promises to return to “acceptable profitability” in 2009.

When reporting its interim profit in late March of this year, Broadway Industries, Ltd. said it expected modest growth of around 1.29 Million dollars. The company said today that after finalizing numbers and figures, that the goal of modest growth would not be achieved in 2008.

If you love the theater, get out there and buy Broadway tickets online and help make 2009 a profitable year, not only for Broadway, but for the arts in general. Hopefully as the economy improves, luxuries such as Broadway theater and the arts will bounce back after a slow year.

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