Remember that @ev tweet?
It would be cool if the death of movie theaters led to the rebirth of live theater.— Ev Williams (@ev) June 19, 2013
Anyway, Fox is going to try it.
If successful, live theater can be an important cushion for movie studios, whose financial fortunes often whipsaw from quarter to quarter as films hit or miss. As the film business becomes more treacherous because of rising costs, studios see Broadway as a safe place to dabble because the investment required is relatively small, especially compared with the potential upside. Losing $20 million on a failed stage musical seems like nothing in Hollywood, where a movie bomb can result in a write-down of $100 million or more.
Musicals based on movies will probably do fine because of the exposure the property already has from the movie. But I do question how good an Aliens musical would be.