The most common and most likely answer to this crossword clue is the 8 letter word DOWNPLAY
I've seen this crossword clue in The Sunday Telegraph
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More clues leading to the result DOWNPLAY
- Make little of sad dramatic composition
- Stress less, taking drink before performance
- Make light of gloomy drama
- Make light of miserable drama
- Make light of sad performance
- Belittle blue entertainment
- Make little of miserable drama
- Make little of sad tragedy, for instance
- Attach less importance to drink and fun
- Make little of sad theatrical production
Buddy explains!

The straight part
We know that "Make little of" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case make little of = downplay.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does DOWNPLAY mean?
DOWNPLAY verb- To de-emphasize; to present or portray as less important or consequential.