... in performance by Lyric Theatre (5)
I believe the answer is:
odeon
'theatre' is the definition.
(in ancient Greece)
'in performance by lyric' is the wordplay.
'in performance' becomes 'on'.
'by' says to put letters next to each other.
'lyric' becomes 'ode' (ode is a kind of lyric).
'on' put after 'ode' is 'ODEON'.
(Other definitions for odeon that I've seen before include "Classical Greek concert hall" , "old theatre" , "Greek venue" , "Place for cinema or musical and dramatic performances" , "dramas here" .)