The West End’s post-pandemic revival has given one of the UK’s biggest theater companies a multimillion-pound boost with the return of Oliver! This will help Sir Cameron Mackintosh’s company return to and exceed pre-Covid trading levels.
Cameron Mackintosh Limited reported an 18 per cent jump in revenue to £234 million last year, surpassing its 2019 performance as audience numbers returned strongly and demand for large-scale productions recovered.
The strong financial year paved the way for a £10.2 million pay package for the 79-year-old Mackintosh, who took no salary between 2020 and 2023 as the company weathered the pandemic-related closure of theaters.
Like much of the live entertainment industry, the company endured a brutal period during Covid-19, as lockdowns forced venues to close and revenue plunged from £207m to just £94m in the year to March 2021. The latest results mark a decisive turnaround and reflect a broader recovery across the West End.
Cameron Mackintosh Limited generates income through the production and staging of major shows and owns and operates eight theaters in the West End, including the Prince of Wales Theater and the Noël Coward Theatre.
The last financial year was boosted by the high-profile return of Oliver! at the Gielgud Theatre, one of the group’s flagship venues, as well as celebrations for the 40th anniversary of Les Misérables, one of the most successful musicals in theater 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 continued international success.
After beginning his career as a West End stagehand, Mackintosh rose to become one of the most influential figures in global theater, shaping the modern music industry with hits such as Cats, Les Misérables and The Phantom of the Opera.
The latest figures highlight not only the resilience of the West End, but also the speed of its recovery, with audiences returning to cinemas comparable to and now exceeding pre-pandemic levels.
