Charles Urstadt grew up in New York and spent much of his adult life and career in the commercial real estate business, growing and eventually selling a real estate investment company. But the seeds of his second career were sown in 2015, when she moved to New Orleans with her now-husband, David Bernard, then a popular TV meteorologist.
Bernard, who made a name for himself locally at WWL-TV in the 1990s, had just taken a new position at WVUE-TV. With time and money to spare, Urstadt immersed himself in the local community, serving on the boards of the Ogden Museum of Southern Art, the Preservation Resource Center, and Le Petit Theatre.
Along the way, he met Dale Mott, a Tony Award-winning Broadway producer and fellow New Orleans resident. Mott approached Urstadt about collaborating on a play that would showcase the work of lesser-known artists and writers. Edgewood Entertainment was born.
There is no doubt that Mr. Mott and Mr. Urstadt, the company’s managing director, would like to bring the show to Broadway. But Edgewood said the mission is bigger than fame and fortune. Urstadt and Mott want to give a voice and exposure to artists of color and the LGBTQ community. Since its founding in 2023, the company has produced or has five plays in production, including one currently playing in Los Angeles, one opening next month in Philadelphia, and two scheduled to debut on Broadway next year. .
This week on Talking Business, Urstadt talks about Edgewood’s mission and why he and Mott are based in New Orleans, a relative outpost in the theater world.
This interview has been edited for length and clarity.
How did your career in real estate prepare you to become a theatrical producer?
Theater production is really professional and very glamorous, and I compare it to real estate. If you’re developing a building, you’ll bring in experts such as architects and engineers, each of whom can add something to the project. The same goes for theatrical production. There are creators, such as artists, writers, and musicians, and then there are people who are responsible for fundraising and fundraising.
The magic is in putting all the pieces together. That’s what I’m doing.
Edgewood Entertainment’s mission is not only to produce great theater, but also to give a voice to traditionally marginalized artists and communities. why?
I grew up in New York, so when I was a kid my mom would take me to Broadway theaters. I never thought it would be a professional thing, but I loved it, so when I met Dale and he hired me, it felt right. That’s because of our mission.
Our focus is not just on production, but on bringing new artists to commercial audiences, including people of color, LGBTQ, women, and otherwise underrepresented artists. Masu.
So how does theater production work?
In some cases, you can start a production out of town and bring it to Broadway in a smaller market than Broadway where you can see how audiences react and see how theater critics react even if it fails. You may bring your own. Or, if it’s the right show, it could open on Broadway and, depending on how well it does, tour around the country. Everyone wants to see it because it was a hit on Broadway.
Sounds easy. it’s not. Do you think it is also expensive?
A large scale full-scale musical costs between $19 million and $24 million. Plays range from $7 million to $10 million. That’s a lot of money, and it’s only going to get to Broadway. Then you have to keep it there every week.
Who are your investors? Are there any private equity funds for theater?
We have a number of investors who have worked with us on past shows, and they believe in what we’re doing, they believe in the theater, and they’re happy to come on board once we give them the green light. It requires a network of individuals and we rely on other producers. The theater world is kind of a club, and all the producers around the world know each other, so there’s a network of people that you go to regularly.
Do you have local investors?
That’s true, but I won’t say the name. I’m now well known in New Orleans. Most of my investor group comes from New York and other parts of the country, but some are based here.
How does New Orleans impact Edgewood Entertainment’s activities?
good. Dale and I both live here, and although most of our work is outside of Louisiana, this is our headquarters. New Orleans has been my life, and as a member of the theater community, I’ve been really focused on what’s going on here. And being on the board of Le Petit gives you insight into that.
I think the theater world needs to be careful, and I am particularly interested in the education of young people. Drama is a very important part of education, but like other arts, it has been marginalized to some extent.
But the great thing about theater is that it’s participatory and communal, and New Orleans is great at that. People here come to really see things and participate in things. They are willing to spend money to go to a concert. That gives me great hope for the future of theater here and across the country.