It was a miserable year for Hollywood at the box office, but Broadway ticket sales have never been higher. Tony-winning producer Ken Davenport joins Cheddar to discuss his innovative marketing tactics that have led to consistently high profits. His latest move is introducing Broadway's first ever best-price guarantee.

Davenport reveals why he decided to deploy the tactic on his new production, a revival of the musical "Once on This Island." He speaks to why it's taken the theater world so long to implement the strategy. Davenport is known for thinking outside the box; he once offered free tickets to virgins for a show called "The First Time."

Davenport says it's a particularly good time to invest in Broadway. He points to Hollywood taking cues from the world of musicals on both the big and small screens. The producer says the success of "La La Land" and "Crazy Ex-Girlfriend" prove theater is "cool again."