'Cats' going home
U sells stake in tuners to Lloyd Webber
The deal, inked in principle over the weekend and announced Sunday, returns to Lloyd Webber full ownership of shows including "Cats," "The Phantom of the Opera," "Joseph and the Amazing Technicolor Dreamcoat" and "Sunset Boulevard." A comprehensive pact will be inked by the end of June.
Under the terms of the deal, Universal Music Group will continue its long-standing relationship with Really Useful through its existing music and video licensing pacts and television distribution deals. Those pacts are covered in a 10-year deal.
Unique in the biz
"It's a superb deal from both companies' points of view," Lloyd Webber said late Saturday. "It will make the Really Useful Group unique in the theater business as both copyright holder and producer of its shows and music."
As for the company, he said it would "go forward as a truly independent home for writers, musicians and all creative artists."
Lloyd Webber noted that the deal marks the first time in his life that he "has owned 100% of my own work."
Insiders noted that UMG has had a very profitable association marketing albums and videos from Lloyd Webber's productions, and the deal will continue to give the conglom access to previously released works as well as Lloyd Webber's future efforts.
"We look forward to continuing to be in business with (Lloyd Webber) and to be associated with his classic works," said Zach Horowitz, prexy-chief operating officer of Universal Music Group, who characterized the deal "as a mutually beneficial arrangement."
Really Useful's catalog boasts the original cast recordings and music publishing rights from shows such as "Phantom of the Opera," "Cats," "Starlight Express" and "Sunset Boulevard."
Upcoming projects touting the Lloyd Webber catalog include a definitive box set of his recordings that UMG will market in the near future.
Universal will also market and distribute musical-based video and TV programming produced by Really Useful through an output deal for Lloyd Webber's forthcoming productions.
The first production under this new agreement will be "Joseph and the Amazing Technicolor Dreamcoat," to be released in the fall. Previously, the worldwide vid bow of "Cats" crossed the 3 million unit plateau, making it one of the genre's bestsellers.
Lloyd Webber's musical portfolio also boasts "Aspects of Love," "Song and Dance" and "Whistle Down the Wind."
Really Useful completely owned "Jesus Christ Superstar" and "Evita," which weren't covered under the buyback pact.
