What Does a General Manager Actually Do for a Reading? Pt. 1: Budgeting and Financial Oversight

Welcome to the first of my six-part series: What Does a General Manager Actually Do for a Reading? Today, we’re covering the biggie:

Budgeting and Financial Oversight

Before a director is hired or actors are approached, a GM builds the budget. Even a simple 29-hour reading involves significant costs: actor and creative fees, rehearsal space, script printing, insurance, transportation, and hospitality. The GM creates a clear budget that supports the producer’s goals, whether that’s showcasing a star, creating a showcase for investors, or experimenting with a new structure in a workshop setting.

At the heart of every successful reading is a well-built, thoughtfully monitored budget. And that’s where a GM’s work begins.

But before we dive in, let me address the one question I know you’re dying to have answered: 

“How Much Does a 29-Hour Reading Actually Cost?”

A 29-hour reading might sound like a simple, low-cost way to workshop a script, but it’s often a major investment. Depending on your goals, team, and location, the cost of producing a 29-hour reading can range anywhere from $8,000 to $50,000 or more.

I can already feel you squirming. “Josh Gad! That’s a lotta money!” And you’re right! It is. 

Without going too far into the woods (see what I did there…?) here’s a small breakdown of three budget ranges:

• Low-End Budget (~$8,000–$15,000): This kind of budget assumes a modest team, limited music (or none), and a small, in-town cast

• Mid-Range Budget (~$15,000–$25,000): This range often includes a larger cast (and/or bigger names), a music director, reputable studio space, and industry guests

• High-End or Showcase Reading (~$25,000–$50,000+): A super polished industry presentation with top-tier creatives and casting, high-end studio/presentation space, can become a full-scale showcase reading

And there are tons of variables that make determine which budget range works best for your reading including location, musical vs. play, union status (AEA, SDC, AFM), creative team size and status, industry focus, and more.

I used to react the same way to hearing these numbers. Trust me... I know how you feel.

I’ll break these down a little further in the future, but the biggest takeaway here is that this is a step that costs money. And you need to know what the goals of this specific step are so that you can be sure to budget the right amount of time and money. Not all readings are created equal. That’s why your GM is a valuable partner. They’ll look at your show and goals from an outside perspective and help you decide which budget range will best serve you and work within those constraints. 

Even the most modest reading requires careful financial planning. A GM builds a budget that reflects not only the creative vision and goals of the project but also the constraints of the available resources. Whether the goal is to attract producers, showcase a score for potential investors, or workshop a new draft for feedback, the GM tailors the budget accordingly.

Your Reading Budget is a Living Document

The GM begins by assembling a comprehensive budget that accounts for all line items, often including:

• Actor, stage manager, musician, and other personnel fees

• Rehearsal studio/performamce venue rental

• Printing script, score, blueprints, and marketing materials

• Insurance (liability, accident, COVID, etc.)

• Administrative overhead

and more.

This budget isn’t just a static spreadsheet, it’s a living document that evolves throughout the process. As new needs arise or savings are identified, the GM adjusts and re-forecasts in real time to keep the project financially healthy without compromising its goals.

Financial Tracking = Future Proofing

Every dollar spent in the reading phase is part of a show’s story because what happens in early development doesn’t stay there. It’s essential that records are meticulously tracked and preserved for a variety of future purposes, including:

• Investor reporting: If a reading is being funded by early supporters, they’ll expect clarity and accountability on how their money was used.

• Non-profit partnerships or grants: Should a theater company become involved later, they may ask for development history and proof of responsible fund stewardship.

• Future production budgeting: The cost breakdown from a reading becomes the foundation for estimating costs on a workshop or full production. Knowing what you actually spent on music copying, hospitality, or Equity benefits can prevent budget overestimates or underestimates in the future.

• Union requirements: For Equity compliance or pension/health reporting, detailed documentation is crucial (and required).

• Legal and tax purposes: All expenses should be categorized and recorded properly to ensure the production entity is audit-proof and can prepare accurate tax returns or 1099s for hired artists.

A GM not only tracks expenses but also creates systems for approvals, reimbursements, and reporting. These include:

• Cost tracking systems (Excel, QuickBooks, or production-specific software)

• Reimbursement protocols for creatives who pay for incidental expenses

• Invoicing procedures for outside vendors or freelance staff

• Audit-ready documentation: receipts, contracts, and check registers organized and accessible

Let’s take a hypothetical example, shall we?

Imagine a new musical with original songs, planning a 29-hour reading to attract commercial partners. The lead producers raise $25,000 from early investors. The GM’s detailed budget keeps spending transparent and aligned with the investors’ expectations. When one of those investors later introduces the show to a Broadway co-producer, the clean paper trail and professional reporting give confidence that this creative team is organized, trustworthy, and ready for the next step. That next producer may now feel more comfortable opening the door to a future production.

Bottom Line (so apropos!)

A reading may be “just 29 hours,” but it can be the launching pad (or the derailment) of your entire production journey. The smart budgeting and financial oversight of a general manager can impact the life of the show for years ensuring that your budget reflects your goals, protects your resources, and positions your work for success at every stage.

Need help producing or managing your next reading or workshop? I specialize in helping new plays and musicals move from page to production. Let's connect!

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