As a producing house, the theatre has staged works that have subsequently moved on to the West End, including the 2004 revival of Sweeney Todd: The Demon Barber of Fleet Street, which also transferred to Broadway in 2006.

In the early 21st century, the theatre staged a number of productions that subsequently transferred to the West End – including Sweeney Todd: The Demon Barber of Fleet Street,[7] and The Gondoliers.

The all-male Shakespeare company Propeller started life at The Watermill under the direction of Edward Hall with the support of artistic director Jill Fraser in the mid-1990s.

[5] In 2024 the theatre was name Community Charity of the Year by the Greenham Trust at their annual awards ceremony, in recognition of their outreach programme.

[13] [14] 2025 – An Autobiography of a Cad by Ian Hislop and Nick Newman, Emil and the Detectives (Youth Theatre), Piaf, Three Hens in a Boat[15] 2024 – Sherlock Holmes and the Poison Wood, Wendy & Peter Pan (Youth Theatre), Fanny, Much Ado About Nothing, Barnum, The King's Speech, Pinocchio by Pinocchio (by Michael Morpurgo, adapted by Simon Reade)[16] 2023 – Notes from a Small Island, Through the Looking Glass, Visitors, The Suspicions of Mr Whicher, Mansfield Park, The Lord of the Rings: A Musical Tale, Macbeth, The Wizard of Oz 2022 – The Wicker Husband, The Girl of Ink and Stars (Youth Theatre), Bleak Expectations, Camp Albion, Our Man in Havana, Whistle Down The Wind, Othello, The Sleeping Sword (Michael Morpurgo), A Monster Calls (Youth Theatre), Rapunzel 2021 – The Jungle Book, Brief Encounter, Just So, As you like it, The Hound of the Baskervilles 2020 – A Christmas Carol, Lone Flyer, Bloodshot, Camelot, The Hound of the Baskervilles, The Wicker Husband 2019 – The Prince and the Pauper, A Midsummer Night's Dream, One Million Tiny Plays about Britain, Assassins, Kiss me Kate, Our Church, The Importance of Being Earnest, Amelie (followed by tour and west end run), Macbeth 2018 – Robin Hood, Jane Eyre (plus schools tour), Trial by Laughter by Ian Hislop and Nick Newman, Sweet Charity, Jerusalem, A Midsummer Nights Dream, Burke and Hare (plus rural tour and London transfer), The Rivals, Digging for Victory (Youth Theatre), Teddy (transferred to The Vaults) 2017 – The Borrowers, Our Town (Youth, Under Milk Wood, Loot, The Picture of Dorian Grey, A Little Night Music, The Millers Child (Youth Theatre), Nesting, House and Garden, Romeo and Juliet, Twelfth Night (London transfer), Faust, Murder for Two (uk tour plus london transfer) 2016 – Sleeping Beauty, Youth Theatre, Frankenstein, The Wipers Times, by Ian Hislop and Nick Newman (uk tour and London transfer), Watership Down, Crazy for You, Untold Stories, Amateurs, One Million Tiny Plays About Britain (tour), The Railway Children, Romeo and Juliet, Tell me on a Sunday – starring Jodie Prenger 2015 – The Secret Adversary (Youth Show), Tuxedo Junction, Far from the Madding Crowd, Amateurs, Deep Blue Sea, Youth Show, Little History of the World, Oliver!, Ladykillers, Macbeth, Gormenghast, Alice in Wonderland 2014 – Peter Pan, Twelfth Night, But First This, Hamlet, Journey's End, Calamity Jane, Hardboiled – the Fall of Sam Shadow (July 2014), A Bunch of Amateurs (May 2014), The Canterbury Tales (May 2014), Sense and Sensibility (April 2014), Life Lessons (March 2014), All My Sons (February 2014), The Devil and the Deep Blue Sea (January 2014) 2013 – Pinocchio (November 2013), Sherlock's Last Case (September 2013), Romeo+Juliet (September 2013 and on tour), The Witches of Eastwick (July 2013), Laurel & Hardy (June 2013), The Strange Case of Dr Jekyll and Mr Hyde (May 2013), The Miser (April 2013), David Copperfield (March 2013), Sleuth (February 2013) 2012 – Arabian Nights (November 2012), The Tempest (September 2012), Thoroughly Modern Millie (August 2012), Ben Hur (June 2012), Of Mice and Men (May 2012), Love on the Tracks (April 2012 and on tour), Henry V and The Winter's Tale (April 2012), Lettice and Lovage (February 2012) 2011 – The Wind in the Willows (November 2011), Some Like It Hotter (November 2011 and on tour), Great Expectations (September 2011), Radio Times (August 2011), The Marriage of Figaro (July 2011), Moonlight and Magnolias (May 2011), Richard III and The Comedy of Errors (April 2011), The Clodly Light Opera and Drama Society (March 2011), Relatively Speaking (February 2011) 2010 – Treasure Island (November 2010), Single Spies (September 2010), Copacabana (July 2010), Daisy Pulls It Off (June 2010), Brontë (April 2010), Raising Voices (March 2010), Confused Love (March 2010), Heroes (February 2010) 2009 – James and the Giant Peach (November 2009), Educating Rita (October 2009), Spend Spend Spend!

(July 2009 and September 2010), Blithe Spirit (May 2009), Bubbles (April to May and September to October 2009), A Midsummer Night's Dream and The Merchant of Venice (March 2009), Life X 3 (January 2009) 2008, Matilda and Duffy's Stupendous Space Adventure (November 2008), The Sirens' Call (November 2008), Our Country's Good (September 2008), The Recruiting Officer (October 2008), Sunset Boulevard (July 2008), Black Comedy and The Bowmans (May 2008), London Assurance (April 2008), Micky Salberg's Crystal Ballroom Dance Band (April 2008 and on tour), Great West Road (March 2008), Merrily We Roll Along (March 2008) 2007 – Honk!

(November 2004), Multiplex (November 2004), Neville's Island (September 2004), The Comedian (September 2004 and March 2005), Raising Voices Again (September 2004), Pinafore Swing (July 2004), The Venetian Twins (May 2004), The Gentleman from Olmedo (April 2004), Mr & Mrs Schultz (March 2004 and on tour), Sweeney Todd (February 2004) 2003 – The Emperor and the Nightingale (November 2003), An Ideal Husband (November 2003), A Star Danced (September 2003), The Fourth Fold (September 2003), The Last Days of the Empire (July 2003), Accelerate (July 2003), Dreams from a Summer House (May 2003), The Triumph of Love (April 2003), Gigolo (March 2003), Raising Voices (March 2003), A Midsummer Night's Dream (February 2003) 2002 – The Firebird (November 2002), Ten Cents a Dance (September 2002), Dancing at Lughnasa (July 2002), Love in a Maze (June 2002), Fiddler on the Roof (April 2002), I Dreamt I Dwelt in Marble Halls by Ade Morris (March 2002 and March 2006), Only a Matter of Time (February 2002) 2001, Cinderella and the Enchanted Slipper (November 2001), Piaf (October 2001), The Merchant of Venice (October 2001), Witch (September 2001), The Clandestine Marriage (August 2001), The Importance of Being Earnest (May 2001), Gondoliers (March 2001), Rose Rage (February 2001) 2000 – Carmen (July 2000) In March 2020, the theatre produced the world premiere of The Wicker Husband.

[citation needed] It also received nine Broadway World Awards, including Best New Production of a Musical[13] This production went on to debut in the US at the Chicago Shakespeare Theatre in 2024.,[23] and transferred to New Zealand in November 2024[24] The Watermill has a strong history of producing theatre that goes on to tour the UK, transfer to the West End, and has even had success with taking shows internationally.

In 2024 the theatre was name Community Charity of the Year by the Greenham Trust at their annual awards ceremony, in recognition of their outreach programme.

[10] The Watermill runs a "Careers in the Arts" programme, in collaboration with Corn Exchange Newbury, which inspires and educates young people through work experience, workshops, and traineeships.