LONDON — Andrew Lloyd Webber, composer of a string of internationally successful musicals, on Friday said his Really Useful Group was heading for a £10 million ($16 million) loss this year.
He admitted that the show “Sunset Boulevard” had been a major loss-maker and said he now intends to take over as a “hands-on” chairman of the company.
Lloyd Webber, who has four hit musicals running in London’s West End, told the Daily Telegraph of his group’s likely losses this year. “It could be as much as £10 million,” he said.
“Sunset Boulevard,” which has played in London and New York as well as in Canada, Australia and Germany, had proved to be a major financial headache.
” ‘Sunset’ has lost money massively overall. I think a lot of that has to do with the scale of the production, and on an artistic level, I think there were things that could have been improved,” Lloyd Webber said. “I think it could have been sharper, more acerbic.”
Lloyd Webber, whose latest musical “Whistle Down The Wind” has been delayed for a rework, said that he now plans to take over as chairman of the Really Useful Group, in which he has a 70% stake.
“I’m going to be around here, causing trouble, irritating people, just trying to get everyone started again,” he said.