Jules Stein

Jules Steinwas an American show-business entrepreneur, best known as the cofounder and president of the entertainment conglomerate MCA (originally the Music Corporation of America).

Stein, who paid his way through medical school (Rush Medical College, 1921) by playing the saxophone and violin as well as by leading bands, discovered that booking bands was a lucrative and enjoyable sideline to practicing medicine. In 1924 he abandoned his successful career as an ophthalmologist to found the Music Corporation of America, a small musical talent agency that was to become a colossal entertainment empire.

Stein innovatively scheduled one-time performances instead of full-season bookings and fostered his company’s growth and power by introducing the exclusive contract; that is, all of his clients’ bookings had to be managed solely by him. By the mid-1930s, after signing Guy Lombardo, Stein’s agency had gained enough momentum to manage more than half of the country’s major bands. By the end of the 1930s the agency was representing not only famous musicians like Frank Sinatra but also actors, including such Hollywood superstars as Bette Davis, Joan Crawford, Greta Garbo, and Jack Benny. Less than a decade later the agency had captured many of the motion-picture industry’s top performers. With its entry into television production in the 1950s and its later acquisition of the motion-picture studio Universal Studios, MCA (as the company was officially known from 1959) earned the nickname “the octopus.” In 1962 a federal antitrust suit cited a conflict of interest, and MCA abandoned its talent agency.

Stein resigned his presidency of the company in 1946, though he continued to serve as chairman of the board. In 1954 he distributed 53 percent of the company’s stock to his executives and employees. In later years Stein donated to and helped raise millions of dollars for eye research. He and his wife founded the Jules Stein Eye Institute at the University of California, Los Angeles, in 1966.