UK Edition
Lord Lloyd-Webber pockets a handy £2m from his Really Useful Group
Impresario Andrew Lloyd Webber has pocketed a multi-million pound payout from his Really Useful Group, the company behind his stage shows such as Jesus Christ Superstar, Phantom of the Opera and School of Rock.
For the year to the end of June 2016, the business reported sales of £38.7m, edging down 0.4pc on the previous year, but pre-tax profits were 6pc higher at £5.8m, helped by lower administrative expenses and exceptions, as well as income from a joint venture.
Lord-Lloyd-Webber took a £2m dividend, compared with a zero payout the year before, as musicals enjoyed renewed interest.
He is the sole owner of Really Useful, which he founded in 1977 and runs and licenses his shows around the world.
This fresh appetite has recently seen three-time Tony Award winner Glenn Close return to the West End and Broadway for a revival of Lord Lloyd-Webber’s Sunset Boulevard, and last year his classic 1981 show Cats was revived for the New York stage.
The vast bulk of Really Useful Group’s income - £30m of the most recent accounts - comes from royalties and profit sharing from investing in theatrical productions.
However, it also has interests in licensing songs and music from Lord Lloyd-Webber’s extensive repertoire, which includes shows such as Joseph and his Amazing Technicolour Dreamcoat, Starlight Express, Aspects of Love and Evita.
In the period covered by the accounts, music publishing accounted for £5.8m of the total, with merchandising another £1.3m. Film production added another £534,000.