Heads of London university college realising musical is flipping profitable (9)
I believe the answer is:
lucrative
'profitable' is the definition.
(similar in meaning)
'heads of london university college realising musical is flipping' is the wordplay.
'heads of' suggests taking the first letters.
'musical' becomes 'evita' (Andrew Lloyd Webber musical).
'is flipping' is a reversal indicator.
The initial letters of 'london university college realising' is 'lucr'.
'evita' written backwards gives 'ative'.
'lucr'+'ative'='LUCRATIVE'
(Other definitions for lucrative that I've seen before include "Moneymaking" , "Well-paid" , "Making money" , "Making a great profit" , "Producing a sizeable profit" .)