The role of risk in making new musicals

Several times over the last few years I have heard the word risk being used to explain the reason for the early closure of theatrical endeavours throughout the world. Risk is an inevitable part of the theatrical process but I just wanted to say a little something about it as it's been playing on my mind recently...

There's two different types of risk in my mind. There's the inherent risks that must be taken in order to undertake a journey of any kind and then there's the other kind... the avoidable risk.

I'll just mention two key avoidable risks:
1. Hiring people to do something at the very top level when they have no (or very little) experience doing that thing.
2. Opening cold in large theatres at prestigious venues with material that has not been properly strength tested.

These risks are not in the inherent risk category, which includes things like global economic factors. Unfortunately we are living in a world in which many industries, of which live performance is one are heavily affected by a global economic situation beyond our control making the business of show-making an even more risky prospect than it usually is.

In a world where the basic inherent level of risk is higher, show makers, producers and venues should be doing everything they can and more in order to minimise the avoidable risks that they do have control over. As ever, it's a shame to see any show not living up to it's potential both in terms of artistry but also in terms of financial sustainability and we should be doing everything we can to ensure that this the chances of this happening is as low as possible.

So just a little call out... when our shows close let's make sure it's because of the inherent risks involved and not the avoidable ones.