[1] In Britain, these functions were carried out by the manager, while the person responsible for staging the play (now called the "director") was traditionally referred to as the producer.
The producer finds the director and pursues the primary goals, to balance and coordinate business and financial aspects in the service of the creative realization of the playwright's vision.
The producer probably has optioned the play from the playwright, which includes rights to future production for film and television.
The producer earns the right to future ventures because the original theatrical production enhances the value of an artistic property.
The producer creates, builds on and oversees the budget, sets ticket prices, chooses performance dates and times, and develops a marketing and advertising strategy for the production.
The theatre owner provides box office services and turns over net ticket sales revenue.
In the commercial world of Broadway, New York City and West End, London and touring, both nationally and internationally, producers are expected to be active members of the team, and their names appear above the show title.
The producer works closely with the production team and cast to make all final decisions.