Andrew Lloyd-Webber May Sell His Company

Officially, he is Lord Lloyd-Webber of Sydmonton and has held that noble title since 1997. More often, he is just Andrew Lloyd-Webber, the man who writes all those musicals. Rarely is he called a businessman. Yet his Really Useful Group is worth close to US$1 billion, and he wants to sell. Despite his wealth, the fact is he's a crummy businessman, and selling it off is the best thing he could do for everyone concerned.

Before the fans of “Cats” and “Phantom of the Opera” flood the mailbox in defense of the man, he was recently quoted in the Financial Times as saying “I'm a very, very bad businessman, and I don't think I've always been very well advised.” Perhaps, the advisers haven't always been the best, but the man's knowledge of his own shortcomings is the key to his ultimate salvation. When one discovers that one isn't very good at a certain activity, and very good at another, economists will say that concentrating on that where one excels is only sensible. So, the composer is going to cease to be a businessman.

But somewhere along the way, the Really Useful Group ran into less-than-glorious management. For the 12 months ended December 2003, the company racked up a rather piffling £3.35 million. The intellectual properties behind the label are some of the most commercially successful (and sometimes artistically impressive) pieces of modern theatre. They must be worth more than a few million per year under the right management.

Friends say that he is tired of business, or rather that is what they tell the British Press – the Kensington Review doesn't move in such exalted circles. But as one of those pals noted, “He may be a genius – an ordinary person with an extraordinary gift. In his case, it's an ability to create lovely tunes, not run businesses.” One hopes he does sell and get back to composing. He, at least, has the wisdom to see that is his purpose in life. A great many others are running businesses not because they want to, but because that seems to be the only way to maximize the returns on their creations. Lord Lloyd-Webber offers a different view.

© Copyright 2005 by The Kensington Review, J. Myhre, Editor. No part of this publication may be reproduced without written consent.

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