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Sonia Friedman has warned that rising production costs are denting ambition and resulting in "fewer risks" being taken.
The producer was addressing an event in parliament on 12th March to mark the publication of a report this week by the Society of London Theatre and UK Theatre, which warned that production costs have doubled in a decade.
"The reason why there is so much stress and talk around ticket pricing is because the costs are just escalating in front of us," the producer of shows including Harry Potter and the Cursed Child and Paddington the Musical said.
Friedman also weighed in on mounting calls for new writing to be supported, urging politicians at the event hosted by SOLT and UK Theatre to protect the development pipeline "because that is where work begins".
SOLT and UK Theatre’s latest annual report, entitled Theatre in the UK 2026, found that production costs had doubled in the past 10 years across its membership.
Among its other findings were record attendance of the West End and a "marked deterioration" in theatres’ financial confidence, with 36% of all theatre organisations and 51% of subsidised theatre organisations anticipating a deficit this year.
Toasting the publication of the report with industry leaders and policymakers in parliament, Friedman reflected: "Demand for theatre has returned and it’s as strong as ever, if not as strong as it’s ever been. But the system that produces it is under real strain."
The producer raised the issue of soaring production costs in her speech as a significant example of the pressure the sector was under, sharing that a show that she had put on a decade ago was now costing her double as much to revive as an identical production in the same theatre.
"We can’t keep up with it. We are trying," she said.
"Every producer in this room and every producer we work with is feeling that pressure. Smaller organisations are even more exposed."
Friedman added: "When costs rise this sharply, ambition becomes so much harder, fewer risks are taken, because every production brings with it a creative risk."
The producer appealed to policymakers to support producers to continue to take a punt on new work and support regional and subsidised theatres, where it was often developed.
"I personally implore you, protect the development pipeline, new writing and regional stages, because that is where the work begins," she said.
"Support international touring, so British work can compete and succeed globally, because when British theatre succeeds, it does far more than entertain. It creates jobs, it builds global audiences and it shares the creativity, the values and the empathy of this country with the world."