Major UK theatre report addresses state of ticket prices and mounting pressure facing venues

A new report from the Society of London Theatre (SOLT) and UK Theatre has provided a detailed analysis of the mixed picture currently facing the UK theatre industry.

The report warns that the sector is facing mounting pressures due to rising costs and long-term underinvestment – and that direct state intervention is urgently required to safeguard a lucrative and vital sector.

This comes despite encouraging headline figures, including more than 37 million audience members attending member venues across the UK in 2024 and West End revenue surpassing £1 billion for the first time. West End attendance grew by 11 per cent to 17.1 million in 2024 (5 million higher than Broadway), at a time when cinema attendance has dropped by 28 per cent and Premier League football attendance has grown by one per cent.

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Ticket affordability has remained a hot topic for the UK theatre industry – with 62.5 per cent of polled theatregoers believing that ticket prices have “risen faster than other goods” since 2019.

However, SOLT and UK Theatre have claimed the data does not corroborate this belief. The majority of tickets nationwide were sold for £39.50 or less. In the West End, nearly a quarter of tickets cost under £35, and fewer than four per cent were priced above £150. The report states that 0.4 per cent of tickets sold have prices exceeding £250.

Beyond the West End, 54 per cent of tickets were under £35 and nearly all under £100. In real terms and adjusted for inflation, average ticket prices have actually declined since 2019 – by 5.3 per cent for the West End and 9.8 per cent for regional venues. This comes at a time when theatres are forced to absorb major increases in energy bills, staffing costs and capital maintenance provisions.

Many theatre organisations remain on fragile financial footing. Nearly a third posted deficits in the past year, with 32 per cent anticipating shortfalls in the year ahead.

The report notes a widespread expectation of rising staff and energy costs, and highlights the urgent need for capital investment: one in five venues require at least £5 million to stay operational over the next decade. Touring, a lifeline for UK productions, is also under threat due to escalating transport and production costs. According to the report, there is a “very real risk of insolvency” for many venues.

Despite these challenges, the sector continues to deliver significant public value. Most theatres provide subsidised or free programming and accessible performances. The report highlights case studies with shows like Six, Matilda and Mischief Comedy.

Theatres are also embracing environmental goals, with a majority working to meet Theatre Green Book standards and all indicating they would invest in sustainability improvements if funding allowed.

Economically, the impact is substantial: for every £1 spent on a theatre ticket, an additional £1.40 is spent in the local economy, creating an estimated £1.94 billion in annual added value.

However, SOLT and UK Theatre caution that such returns cannot be sustained without renewed support. Public funding for arts and culture has declined significantly, with a 32 per cent per capita drop from the Department for Culture, Media and Sport since 2010 and local authority contributions falling by as much as 48 per cent.

This financial squeeze is forcing venues to curtail programming, delay maintenance, and reduce outreach. Between 2019 and 2024, across 48 UK Theatre member venues polled, there has been a 15 per cent drop in number of performances – despite an overall two per cent increase in audience numbers.

The report also notes that “the cost of creating and running theatre has soared”, with a West End musical having fixed weekly costs of between £300,000 and £400,000 (a West End play would be roughly half of this).

In response, SOLT and UK Theatre are urging the Government to act during the upcoming Comprehensive Spending Review.

Their key recommendations include restoring arts funding to previous levels, investing £500 million in theatre infrastructure nationwide, and supporting the Theatre for Every Child initiative to ensure all students experience live theatre before leaving school.