Musicals are proving to be the economic engine of Broadway, drawing some 12.2 million theatergoers in the banner 2007-2008 season, according to industry officials, who said they expect more of the same this year.

The number of theater seats filled this season only narrowly failed to break the previous year's record, said Charlotte St. Martin, executive director of the Broadway League.

"While we are disappointed that we didn't exceed last year's record-breaking season, we are confident that in the coming season -- with such big name shows on the horizon as 'Billy Elliot,' 'Shrek,' 'West Side Story,' and 'Equus,' to only name a few -- we will have the best season in recorded history," St. Martin predicted.

In 2007-2008, some 36 Broadway shows reaped in $937.5 million -- just shy of the $938.5 million earned in the previous year.

The just-ended season might have eclipsed that record, if not for a 19-day stagehand strike that shut down most of New York's theater district and cost the New York City millions of dollars.