'Our beloved theatres are under threat' - Why closure of Cannock's Prince of Wales could be just the start

Nobody argues that live theatre is a wonderful experience, but a new report warns that its future is very much in doubt.

Rising production costs are threatening the viability of the tradition, according to the Society of London Theatre (SOLT) and UK Theatre .

The cost of running and creating theatre has soared, rising "significantly faster than inflation", according to a report into the state of British theatre in 2025. 

It is a challenge we have seen here in the West Midlands, with the closure of Cannock’s beloved Prince of Wales Theatre.

It simply could not carry on after Cannock Chase Council decided to withdraw its subsidy, and while there are hopes it may return in some form, the final curtain came in April, and with it redundancies for its dedicated staff.

The theatre’s manager Richard Kay said as it closed: "It's emotional. In many cases and especially in my staff here, they are here for the environment and the joy rather than the money.

"I think when you work in an environment like this, there is a real and genuine passion for theatre and entertainment that is shown by everyone."

The manager said there is 'genuine and real hope' that this won't be the end of the theatre, but that future is reliant on a plan to make it pay, which is an increasing challenge. 

It has received some funding to investigate a way forward and there are said to be groups interested in taking it on, but with no firm plan it is expected to remain shut until next year at the very earliest.

Today’s SOLT report rings very true with supports of the Prince of Wales Theatre.

It says: "The economics of theatre are finely balanced. Without strategic support and investment, rising costs threaten the viability of even the most commercially successful productions." 

The report outlines potential threats to the sector's financial sustainability, including the cumulative effect of rising inflation, heightened international trade tensions and the potential impact of new US tariffs. 

On Wednesday official figures revealed that UK inflation surged to its highest level for more than a year last month after households were hit by a raft of "awful April" bill increases. 

In spite of growing costs, members of the SOLT and UK Theatre welcomed more than 37 million audience members in 2024, with the West End surpassing 17.1 million attendees, generating more than £1 billion in revenue for the first time in history, according to the organisations. 

The report estimates that the average price of a West End ticket is 5.3 per cent lower in real terms than in 2019 and says that "most theatre tickets remain affordable". 

Another issue is investment, with one in five UK venues requiring at least £5 million over the next decade simply to remain operational, according to a 2024 survey from the organisations. 

Out of the 65 venues surveyed, it was found that nearly 40 per cent of them could close or become unusable in the next five years without substantial capital funding. 

Rising costs in transport, accommodation, freight and staffing are also affecting domestic touring and the report said these financial pressures are "straining the viability of touring models that rely on lean margins and collaborative delivery". 

At the same time, audiences are facing their own cost-of-living challenges and this means that "simply raising ticket prices is not a viable solution if theatre is to remain accessible to all". 

The report said higher-priced tickets help "cross-subsidise lower-cost options, enabling more people to attend while preserving financial sustainability".  It also said the Government needs to make a "sustained investment in infrastructure, skills, access and innovation". 

International productions can also face complex issues, such as trade uncertainty, but the report added that "UK theatre continues to punch above its weight globally". Six The Musical is an example of "the power of UK theatre as a world-leading cultural export", according to the report. 

SOLT and UK Theatre’s Hannah Essex said: "The reality is stark: theatres are doing more with less - and the strain is showing. 

"Rising costs, shrinking support and ageing infrastructure are putting the sector under unsustainable pressure.”

"We are seeing world-class organisations forced to cut programmes, delay maintenance and scale back outreach. 

"If we want to maintain the UK's position as a global leader in theatre - and continue to inspire the next generation of actors, writers and technicians - then Government must act. 

"That means restoring public investment, investing in infrastructure and ensuring that every child can experience the life-changing power of live performance."