The West End’s post-pandemic revival has delivered a multimillion-pound boost to one of Britain’s biggest theatre groups, with the return of Oliver! helping Sir Cameron Mackintosh’s company rebound to, and surpass, pre-Covid trading levels.
Cameron Mackintosh Limited reported an 18 per cent jump in revenues to £234 million last year, overtaking its 2019 performance as audiences returned in force and demand for major productions recovered.
The strong financial year paved the way for a £10.2 million pay packet for Mackintosh, 79, who had taken no salary between 2020 and 2023 as the business weathered the pandemic shutdown of theatres.
Like much of the live entertainment sector, the company endured a brutal period during Covid-19, when lockdowns forced venues to close and turnover collapsed from £207 million to just £94 million in the year to March 2021. The latest results mark a decisive turnaround, reflecting a broader recovery across the West End.
Cameron Mackintosh Limited generates income through both producing and staging major shows, alongside owning and operating eight West End theatres, including the Prince of Wales Theatre and the Noël Coward Theatre.
The most recent financial year was buoyed by the high-profile return of Oliver! at the Gielgud Theatre, one of the group’s flagship venues, as well as celebrations marking the 40th anniversary of Les Misérables, one of the most successful musicals in theatrical history.
Mackintosh’s business empire also includes long-running global productions such as The Phantom of the Opera and Mary Poppins, the latter a collaboration with Disney that has enjoyed sustained international success.
Having started his career as a West End stagehand, Mackintosh rose to become one of the most influential figures in global theatre, shaping the modern musical industry through hits including Cats, Les Misérables and The Phantom of the Opera.
The latest figures underline not only the resilience of the West End but also the speed of its recovery, as audiences return to theatres in numbers comparable to, and now exceeding, those seen before the pandemic.