Bloomberg Quicktake's video: Andrew Lloyd Webber Says Lockdowns Push London Theater to Abyss

Andrew Lloyd Webber, the composer behind hit musicals including “Phantom of the Opera” and “Evita,” says the U.K. government needs to open up London theaters to prevent the industry from collapsing. Work for actors and musicians along with investment in future productions is at risk because ministers have kept quiet on how and when they might reopen public spaces after the pandemic, Lloyd Webber said. His seven venues in the West End are costing 1 million pounds ($1.4 million) a month even while shut. “No business can sustain that sort of level of outgoing,” he said in an interview. “Having been a cheerleader, saying that we must get back, we will get back, I’m worried now. My team has pretty much led the industry here, and I know they’re getting to the point where they don’t know what more we can do.” His remarks reflect growing alarm about the damage restrictions to contain the pandemic are doing to the arts including theater, museums and concerts. While restaurants and bars have put much of their staff into the government furlough program that pays up to 80% of wages for those who can’t work, may actors and stage hands are freelance and have slipped through the cracks in government support. The arts and culture industry overall contributes 10.8 billion pounds a year to the U.K. economy and 363,700 jobs, according to analysis by the Centre for Economics and Business Research for Arts Council England. Lloyd Webber says Chancellor of the Exchequer Rishi Sunak and most of his predecessors haven’t absorbed how much more income a successful musical can generate for the economy than a film, noting that people travel from abroad, stay in hotels and eat at restaurants to take in a West End show. Sunak is preparing a budget for March 3 that may extend support to those that have been left behind so far. professionally in the theater who realizes exactly what a big hit musical or a big hit play brings back,” Lloyd Webber said. “It is prodigious what it returns. We are an enormous earner for the country.” While Prime Minister Boris Johnson says an aggressive vaccination campaign will allow many restrictions eventually to loosen, he’s warned that the current rules will remain in place for weeks or months. As long as the ministers require people to maintain social distancing, many venues will not be able to open. Lloyd Webber’s ambition is to restart work on his new musical “Cinderella” next month in hopes of opening in May -- something he acknowledges remains unlikely. For now, theaters across the country are sitting dark with no sign of when they might reopen. They all have mounting fixed costs including rent and electricity that must be paid whether or not they’re able to sell tickets. Even with some state support flowing to the industry, Lloyd Webber said he had to mortgage a home to help cover costs at theaters he owns. Risks like that are frightening off the investors that would back the next productions, threatening to leave London without the number of shows it usually stages when the virus eventually ebbs. West End musicals must fill about 80% of their seats to be financially viable, according to Lloyd Webber. He worries that investors will shift their focus away from London and toward productions in the U.S. unless authorities test technology such as ventilation or sanitizer systems that could make bigger gatherings safer. “Theater is a global business, and why would you open it in London if you feel that the government is not really behind it?” said Lloyd Webber, who previously was a member of the U.K. House of Lords. “Musicals have got to really be repaying an investment. If we are stuck at 50% social distancing or something, we can’t operate. There’s no point.” Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30 Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktake