From MarketWatch, November 19:
The composer of ‘The Phantom of the Opera,’ ‘Cats,’ ‘Evita’ and many others is enjoying a new — and busy — chapter in his decades-long career
Andrew Lloyd Webber is ready for his close-up — again.
Of course, that’s a reference to the line from the classic film “Sunset Boulevard.” And it’s a particularly apt reference, given that Lloyd Webber turned the movie into a Tony Award-winning Broadway show in 1994.
But it’s all about the “again” aspect these days for the 77-year-old British-born composer and showbiz maverick whose net worth reportedly tops $1 billion. He’s riding high off the successful revivals of many of his classic works. In fact, a new Broadway staging of “Sunset Boulevard,” starring Nicole Scherzinger, won the Tony for best revival this year. And a revamped version of “Cats,” dubbed “Cats: The Jellicle Ball,” is coming to Broadway in 2026.
Plus, this fall, “The Phantom of the Opera,” which closed on Broadway in 2023 (much to Lloyd Webber’s disappointment), returned to New York. But this time, it’s being presented off-Broadway in a radically reconceived version, dubbed “Masquerade,” that lets audiences get up close and personal with the phantom himself. Think a musical somewhat in the style of “Sleep No More,” the immersive show that ran in New York for more than a decade.
At the same time, Lloyd Webber has rethought his business model. The Really Useful Group, his longtime licensing and production company, has been rebranded as LW Entertainment, and is now headed by James McKnight, who previously worked with J.K. Rowling on the Harry Potter enterprise. The goal, in the words of Variety, is to take it “from a sleepy theater company into an entertainment powerhouse with a hand in everything from gaming to movies to consumer products.”
Lloyd Webber is also partnering with Michael Harrison, a veteran British producer, on new theatrical ventures. So far, the collaboration has included the recent “Sunset Boulevard” production on Broadway and a buzzy revival of “Evita” — another of Lloyd Webber’s classic works — on London’s West End.
Nevertheless, these are challenging times for the theatrical world. Production costs have risen dramatically on Broadway — it often takes more than $20 million to stage a work — and attendance has yet to reach prepandemic levels. That leaves Lloyd Webber and many others questioning if the Broadway musical is an endangered species, even though Lloyd Webber has a new work, “The Illusionist,” in development.
All of which gave us plenty to discuss with the theatrical great when he paid a recent visit to our New York office, right when “Masquerade” was set to open. He talked about his career and the industry, as well as some of his views on money. Here are edited excerpts from the conversation.
MarketWatch: You are having quite the year. How does it feel to be the hottest name in theater currently?....
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