I agree that there is some hypocracy, considering this is the man who not only wrote Cats, but don't forget Starlight Express and By Jeeves, both of which are pretty frivolous musicals.
However, I think he is also trying to say that there is a problem in musical theater today because there are very few serious works out there. Many shows do focus on the "feel-good factor," because frankly it creates a better musical. Starlight ran for 17 years in London, and Cats for about the same time on both the West End and Bway. How long did The Beautiful Game or Aspects of Love last? But it is a shame that it is so hard to find engaging theater now, and instead we are filled with shows like the Drowsy chaperone and Mamma Mia.I think that he also pointing out how hard it is to run a profit in London. He owns a lot of these theaters, and apparently it is very hard to run a profit in London.
Though almost every composer has written frivolous musicals, I think they all would like to see at least some serious works out there.
Keep your morals, I don't have time. Keep your lovers, I'm changing mine!
-The Likes of Us