The most common and most likely answer to this crossword clue is the 7 plus 5 letter word TWELFTH NIGHT
I've seen this crossword clue in The Sunday Telegraph
T
W
E
L
F
T
H
N
I
G
H
T
More clues leading to the result TWELFTH NIGHT
- Play what you will when Christmas ends
- Play near the end of its second week?
- The twice abridged, left-wing revolutionary play!
- Play as reserve in Arthur’s cricket team, we’re told?
- Thing worked out after musical interval determines what you will play!
- Penny’s relationship with Bob near to end of engagement produces drama
- Theatrical performance after eleven near West End
- Famous play in its second week on January 5th?
- /5D: At five minutes to the hour, recited piece from 11
- No interest, thing left without play
Buddy explains!

The straight part
We know that "Theatrical performance" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case theatrical performance = twelfth night.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.