The Old Vic and Laurence Olivier as its stars, performing mainly at the New Theatre (now the Noël Coward Theatre) until the Old Vic was ready to reopen in 1950. In 1946, an offshoot of the company was established in Bristol as the Bristol Old Vic. In 1963, the Old Vic company was dissolved and the new National Theatre Company, under the artistic direction of Lord Olivier, was based at the Old Vic until its own building was opened on the South Bank near Waterloo Bridge in 1976. In July 1974 the Old Vic presented a rock concert for the first time. National
The Old Vic Great Britain: this was on the basis of it being a touring company, and the Council – already funding the National Theatre and the Royal Shakespeare Company in London – could not accept a case for a third major company in the capital and repeatedly refused requests to fund any London seasons staged by Prospect. Therefore, any London-based productions would have to succeed financially without Arts Council support. Prospect's first season at the Old Vic recouped its costs but left no surplus to fund future productions. Further stagings by visiting companies were box office failures and stretched the theatre's finances