Before the Great Plague of 1592–1593, in the time when Shakespeare first came to London, the city boasted several acting troupes. In 1558, when Queen Elizabeth I ascended the throne, any gentleman could maintain a troupe of actors. By 1572, it became illegal for any nobleman below the rank of baron to maintain a troupe, although other companies could perform by obtaining a special license, which had many performance restrictions. Although this arrangement severely restricted the number of acting troupes, it extended governmental sanction to the remaining licensed companies.
When the Great Plague of 1592–1593 hit, closing the theaters and decimating the population of England, many acting companies dissolved, while others were forced to amalgamate with other troupes for survival. Two preeminent companies emerged in 1593, and they would rival each other for years. One company, The Lord Admiral’s Men, was headed by Edward Alleyn with financial banking from Philip Henslowe. The other dominant troupe, The Lord Chamberlain’s Men (the troupe in which Shakespeare was actor, dramatist, and shareholder, later renamed The King’s Men when James I took the throne in 1603), was run by the Burbage family.
Acting troupes were organized under a shareholding plan wherein financial risk and profits were divided among those actors who had become part owners of the company by buying shares in it. The troupes, comprised entirely of men and young boys, employed about 25 actors. Roughly fewer than half of a troupe’s actors were shareholders and not all owned equal shares, but those considered especially valuable to the company were encouraged to become shareholders since this ensured their continued service and loyalty. To become a shareholder, an actor had to put up a considerable sum of money; when he retired or died, the company paid the actor or his heirs for his share. Non-shareholding adult members of a company, however, were considered hirelings of the shareholders and worked under contracts promising them a weekly wage of about 5-10 shillings, although they were frequently paid less.
