The West Finish’s post-pandemic revival has delivered a multimillion-pound increase to considered one of Britain’s largest theatre teams, with the return of Oliver! serving to Sir Cameron Waterproof coat’s firm rebound to, and surpass, pre-Covid buying and selling ranges.
Cameron Waterproof coat Restricted reported an 18 per cent bounce in revenues to £234 million final yr, overtaking its 2019 efficiency as audiences returned in drive and demand for main productions recovered.
The robust monetary yr paved the way in which for a £10.2 million pay packet for Waterproof coat, 79, who had taken no wage between 2020 and 2023 because the enterprise weathered the pandemic shutdown of theatres.
Like a lot of the dwell leisure sector, the corporate endured a brutal interval throughout Covid-19, when lockdowns pressured venues to shut and turnover collapsed from £207 million to simply £94 million within the yr to March 2021. The most recent outcomes mark a decisive turnaround, reflecting a broader restoration throughout the West Finish.
Cameron Waterproof coat Restricted generates earnings by means of each producing and staging main reveals, alongside proudly owning and working eight West Finish theatres, together with the Prince of Wales Theatre and the Noël Coward Theatre.
The newest monetary yr was buoyed by the high-profile return of Oliver! on the Gielgud Theatre, one of many group’s flagship venues, in addition to celebrations marking the fortieth anniversary of Les Misérables, probably the most profitable musicals in theatrical historical past.
Waterproof coat’s enterprise empire additionally contains long-running international productions akin to The Phantom of the Opera and Mary Poppins, the latter a collaboration with Disney that has loved sustained worldwide success.
Having began his profession as a West Finish stagehand, Waterproof coat rose to develop into probably the most influential figures in international theatre, shaping the trendy musical business by means of hits together with Cats, Les Misérables and The Phantom of the Opera.
The most recent figures underline not solely the resilience of the West Finish but additionally the velocity of its restoration, as audiences return to theatres in numbers akin to, and now exceeding, these seen earlier than the pandemic.
