Theatre
He appeared in a production of Hair in 1969/1971, Godspell and Dracula.
He was in the original Australian production of They're Playing Our Song, which opened on 23 August 1980 at the Theatre Royal in Sydney. It starred Waters and Jacki Weaver, with Rhonda Burchmore as one of the Inner Voices. An Australian cast recording of the show was later released by Festival Records.
Waters appeared as Pontius Pilate in the concert version of Tim Rice musical Jesus Christ Superstar with John Farnham, Kate Ceberano, Jon Stevens and Angry Anderson in 1992
In 2005, Waters starred in David Williamson's play Influence as shock jock Ziggi Blasko. The play was performed in Sydney during March/April 2005 and in Melbourne in June/July 2005.
In 2008, he played The Narrator in Richard O'Brien's Rocky Horror Show at Star City Casino, Sydney.
In 2006–2007. Waters toured Australia, Hong Kong and New Zealand in a critically acclaimed role alongside Brett Tucker in The Woman in Black.
In 2010 he starred in the Melbourne Theatre Company's production of The Swimming Club, a play by Australian author Hannie Rayson.
In 2013 Waters starred in The Addams Family musical as Gomez Addams. The production premiered in Sydney on 24 March 2013 and closed on 9 June 2013.
In 2017, Waters played Ulysses in Music Theatre Melbourne's concert production of Paris. He had previously played the role of Agamemnon on the musical's original concept album released in 1990.
In 2024 Waters starred in a new Australian tour of The Woman in Black as Arthur Kipps.