Today in 1973, the Theatre Development Fund (a non-profit organisation designed to aid the struggling New York theatre business) opening the first discount ticket booth in New York City.
Broadway was a very different place in the 1960s and 1970s. Musicals were losing popularity, fewer people could afford the legitimate theatre and the area around Times Square saw more cheap cinemas and sex shops than long-running extravaganzas. In the 1920’s there were 70-80 theatres in the Broadway area, by 1969 there were just 36.
In the historic Duffy Square, part of the Times Square district, the TKTS booth opened after being built with a budget of just $5000, offering same day tickets discounted by up to 50%
Forty years later they have sold over 58 million tickets to theatregoers and recently underwent a major renovation and rebuild, this time costing closer to $19 million.