Andrew Lloyd Webber Divides Really Useful Group to Maximize Global Reach
In a recent article, The Telegraph has revealed that a look at the company's accounts reveals a demerger in Webber's company. The Really Useful Group is now joined by a separate company, Really Useful Theatres, which is set to bring in millions through its programming at all its West End theatres - including Charlie and the Chocolate Factory and Matilda.
The goal behind the demerger is to widen Webber's global scope. "The commentators in London think it is all about the West End or Broadway," Mark Wordsworth, chairman of Webber's business, told The Telegraph. "Well, we make more money globally from performances of The Phantom of the Opera in Manila, or Evita in Mexico City."
The Really Useful Group (RUG) will now focus on developing and selling rights to Webber's 19 backlogged musicals for films, tours, and show merchandising. Post-demerger, RUG saw a spike in turnover, led by a Jesus Christ Superstar tour in the UK and several performances in Asia Pacific and China.
The Really Useful Theatres (RUT) now manages the group's six London theatres.
The split between the two groups essentailly gives RUT artistic liscence over Webber's West End interests and leaves international business developments in the hands of RUG.
"Although the fortunes of the West End theatres are of interest to us," Wordsworth said, "Globally, the copyright business is on a whole different platform."
Head over to The Telegraph for the original article.