SCHENECTADY — After 30 months of mounting expectations, the cultural phenomenon that is "Hamilton" arrives next week.

The smash-hit musical, which tells the story of America's founding with a focus on Alexander Hamilton and a soundtrack of rap, rock, soul, R&B and traditional Broadway-style tunes, will play for 16 performances over two weeks at Proctors, from Tuesday through Aug. 25.

Although its run this month was announced in February 2017, at the unveiling of the 2017-18 Proctors season, individual tickets didn't go on sale until late June, seven weeks before the first performance.

The long wait and attendant hype produced a bliztkrieg on the box office, which sold all 22,000 tickets available that first day, June 24. About 15,000 are set aside for Proctors subscribers; of the approximately 5,000 remaining — total capacity or the two-week run in the 2,600-seat Proctors is about 42,000 — some were held back for later sale, some for the "Hamilton" lottery that makes 40 seats per performance available by random giveaway at $10 each, some for use by the producers.

On the first day of sales, most tickets were sold at $95 to $165, maxing out at $265. Since then, "Hamilton" producers have steadily released additional tickets for sale under a dynamic-pricing model similar to hotel rooms or airline tickets, meaning prices go up as demand increases and time gets short. By this week, top tickets through the Proctors box office were fetching up to $500, and hundreds have been sold at that level, according to the theater.

"It's really in a league of its own in terms of impact," said Jim Salengo, executive director for almost a dozen years of the Downtown Schenectady Improvement Corp.

Those 42,000 people descending on downtown Schenectady will spend more than just the approximately $5.5 million in projected ticket sales. Some will shop, dine, stay overnight. Businesses will extend hours and pay more staff members. The production itself accounts for about 90 people, who will need lodging, food and services for almost two weeks. Standard metrics used to calculate the financial impact of a theater tour on a local economy put the "Hamilton" effect at $15 million on the conservative side, more than $19 million at the high end.

Philip Morris, CEO of Proctors, said the unprecedentedly expensive tickets for "Hamilton" put it on track to financially outperform longer stays of "The Phantom of the Opera" and "The Lion King," which had two monthlong runs apiece in the 13 years since "Phantom" inaugurated an expanded Proctors in 2006. On a per-week average, "Hamilton" ticket grosses will be double those brought in by either of the others, Morris said.

The cultural importance of "Hamilton," which has won popularity far beyond conventional audiences for musical theater, starts with its story and music, all written by Lin-Manuel Miranda, who also originated the title role. Morris said sales data shows that audiences are coming from farther away than for other touring musicals, and many sold to those who live locally are to first-time ticket buyers.

To help prepare the business community to better welcome visitors new to the city or to the theatergoing experience, Proctors and the Downtown Schenectady Improvement Corp. co-hosted a meeting last week attended by about 40 stakeholders. Salengo said the DSIC is collecting parking, shopping, dining and lodging information, as well as other "Hamilton"-specific promotions for visitors, on a dedicated page on its website, downtownschenectady.org. It is also encouraging business to consider offering deals available to the show's cast and crew, he said.

While acknowledging that $500 might seem steep for a single ticket — indeed, it is about $325 more than the previous top ticket ever sold by Proctors — Morris said in the context of "Hamilton" the price isn't outrageous. Producers make the "Hamilton" lottery and its $10 tickets available in every city, early bargain hunters could get back-balcony tickets for $40, subscribers paid about $135, on-sale-day tickets were capped at $265, and $500-or-more tickets have sold in every touring market in which "Hamilton" has played.

"It is both a national treasure and a capitalist opportunity," Morris said, quoting the appropriately named lead producer of "Hamilton," Jeffrey Seller. Said Morris, "They do a very good job balancing those two things, and now it's up to us to make sure the experience for those who bought tickets is as good as we can make it."

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