They should cut Olaf, but merch.
Frozen would be another movie (for the best) if there wasn't this character dragging the movie down. I can't remember any scene where he is actually useful to the story. Plus, without him on the show, we would have one less song, and therefore, more space for an epic finale, a decent duet between Anna and Elsa, a quartet between Anna, Elsa, Kristoff and Hans (he will be twisted to a "I'm a misunderstood kinda of guy, I just wanted to be recognized for once, so sorry", I guarantee it).
Sven could make it to the show, since Kristoff voices him, anyway. But cut or make Reindeers are better than people useful. Not that waste of an actor Jonathan Groff we saw on the movie. (really? he should have a whole "abandoned, miserable and alone" ballad).