For investor, Prince 'Purple Rain' musical heading to Broadway realizes a 'lifelong dream'

Craig Shapiro was an early investor in Purple Rain: The Musical, an upcoming stage adaptation of the beloved 1984 Prince film. But this major opportunity wasn’t just about business—it’s the realization of a "lifelong dream" that began in childhood.

"I’m a massive fan," he tells GOOD over Zoom from his home in Washington D.C. "I have two older cousins who were almost like big brothers to me—one is six years older than me, and one is nine years older. When I was a little kid, they were really into Prince. It was the first music I remember. I looked up to them: 'Oh, my God, they are the coolest guys in the whole world!' Whatever music they listened to, I said, 'I’ve gotta listen to that.' We used to go to the beach in the summer [growing up], and they brought a cassette tape of Purple Rain. I was like, "This is dripping with awesomeness.’"

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Decades later, shortly after Prince died in 2016, Shapiro started hearing whispers about a possible Broadway adaptation. So the investor, a former GOOD Magazine collaborator and founder of the venture-capital firm Collaborative Fund, made the right connections and became involved in the musical—a buzzed-about project directed by Tony-nominee Lileana Blain-Cruz, with a book by Pulitzer Prize finalist Branden Jacobs-Jenkins, music supervision, arrangements, and orchestrations by Tony winner Jason Michael Webb, and choreography by Ebony Williams. Crucially for Prince fans, it also features two of The Artist’s core musical collaborators, drummer Bobby Z. and keyboardist Morris Hayes, as music advisors.

Before hitting Broadway, the production will take flight in the perfect location, running October 16-November 16 at the State Theatre in Prince’s native Minneapolis. "I hope that there’s going to be a lot of coverage when this thing hits Broadway," Shapiro says, "but right now it’s still flying under the radar. It’s so Prince."

He spoke to GOOD about the extent of his Prince fandom, how he got involved in the musical, and the unifying power of Purple Rain.

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Shapiro's Prince fandom

Can you talk about your personal connection to the film and Prince’s work? How did that lead you to getting involved with the musical?

[Years after discovering Purple Rain], I joined the [fan club] New Power Generation Music Club. I went to at least a dozen live performances at Hard Rock in L.A., the Fillmore in San Francisco, the Cap Center in D.C.—big venues, small venues. In fact, I saw him on his final tour, Piano & a Microphone, in Oakland. It was absolutely stunning, and he passed shortly after that. There were rumors about this potential Broadway show, and I was like, "I’m so far outside of that world and community, but if there’s a way I can get involved and be supportive, that would be a lifelong dream." As a venture capitalist, I see how hard it is to start something new, to cobble together money early on. I thought this could be a way that my wife and I could support them, to potentially give them some initial fuel financially to get that production going.

I’m still kicking myself because Prince came through Atlanta on that tour, and I wasn’t able to make the show. His shows at the Fox Theatre were his last ever.

He was such an amazing talent, a musical genius, and the fact that he played every instrument. He had such a sense of humor, too. Even during that last show [I attended], he was just messing with the crowd. He was a human being, and we all have struggles and insecurities, but he showed up in a way that almost seemed like he was having fun with the world, despite his massive celebrity and success. He had kind of a wry smile. I’ll never forget that show—my wife and I went, and we still talk about it. He just oozed this amazing inner confidence that was such a wild mixture of masculinity, femininity—it was like somebody who is living their true self, which is so refreshing.

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The musical's "authenticity"

One unique element of the Purple Rain musical is having two longtime Prince bandmates, Bobby Z. and Morris Hayes, as advisers. It really gives the project a kind of pedigree, especially given how particular and meticulous Prince was about his music. Can you talk about their involvement—what exactly are they doing as advisers? Is it just quality control?

I don’t know the intricacies of their involvement, but I have to imagine it’s tied to the quality and the accuracy and authenticity of the production. I’m sure you know this, but Bobby Z. was Prince’s original drummer and [appeared in] the Purple Rain film. He literally lived the story with Prince, so I think having his direct involvement is—again, I can’t speak to the day to day—but it’s a key piece. For Morris, he spent more than 20 years as Prince’s keyboardist [primarily from 1992 to 2012] and music director, so he helped shape some of Prince’s biggest live moments. When you asked that question, it was spot on because [having them involved] kind of ensures that this isn’t going to run afoul of the movie and music. Between the two of them, they really knew Prince’s music best. Their fingerprints are all over his legacy. I think it’s rare for a Broadway show to have this kind of direct line back to the original artist, which is a nice tribute.

Another nice tribute is that the musical is being staged in Minneapolis before heading to Broadway. It seems rather obvious why you’d want to do that, but can you talk about that decision? It feels like a "best of both worlds" situation.

I couldn’t agree more. I wasn’t involved in the decision to do that, but I felt the exact same way when they shared that news. Obviously, Paisley Park is the birthplace of so much. For this creative genius to come from that city—it’s such a cool tribute to start there. It speaks, again, to the authenticity. This wasn’t a fly-by-night thing, like, "Let’s throw this together and see what happens." It’s been a long time in the making, where they’ve taken careful consideration for how to get it right. When I saw Prince at The Fillmore in San Francisco, he played a show earlier in the night at one of the bigger stadiums. But the whisper on the street was that he’d show up at the Fillmore for a bit of an after-show. This kind of feels like that.

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Purple healing rain

This is such a divided time in our country. Do you think there’s anything particularly relevant about the musical being staged now? Prince is that rare artist who appeals to a wide swath of people: classic-rock people, pop fans, funk lovers…Who better than Prince to speak to us?

Just speaking as a Prince fan and an interested party, I absolutely agree with you on multiple levels. During the pandemic, we were isolated, and now things have thawed out, and we’re going to see live music and sporting events again. But I was talking to someone who was recently at an L.A. Dodgers game. They said, "I was sitting in the cheap seats, and with the guy sitting next to me, there was zero doubt that we were on opposite ends of the political spectrum that is such a strong current in today’s culture, but we were both diehard Dodgers fans. There’s a home run, we’re standing up and high-fiving. I ordered a beer, and he passed it to me. We’re laughing and engaging." I think Prince is a great example of [someone] who brings people together. There are so many people [for whom] Prince conjures up memories: "When I was at my high school homecoming, we slow-danced to 'Purple Rain.' That was my first love." It kind of transcends a lot of these lines today that are super divisive. I think that’s a really interesting piece. I think the other is that Prince was actually quite a philanthropist and did so mostly anonymously—he gave money to organizations and to people, and a lot of it I didn’t learn about until after his passing. The more we can find events like a show or some type of entertainment to break down some of those divides, it’s a good thing. And Prince is unique in that sense because he ties back to nostalgia from when a lot of us were growing up.

Let’s end with this: What’s your favorite Prince song and album? I understand if you feel like you have to say Purple Rain and "Purple Rain."

My favorite song is "The Beautiful Ones"—I just love that song so much. I can’t pick a favorite album. It’s hard not to go with Purple Rain, just because it’s what kicked things off, circling back to the beginning of our conversation. Just that indelible memory of being at the beach and my older cousins popping in that cassette—it really changed my life in a way. But I love Diamonds and Pearls, even a lot of the more recent music. It’s hard to pick a favorite album, but I would say, for non-music-related reasons, I’ve got to go with Purple Rain.

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