German operetta of the early twentieth century was part of a transcultural entertainment industry involving cross-border financial and production networks, international rights management, and migrating musicians and performers. Collaboration networks, in which groups of people worked as a team, were the norm in operetta production. In the early 1910s and again in the 1920s, Berlin, London, and New York were competing for dominance of the musical theatre market, but these cities were also collaborating on the transfer of cultural goods. Internationalization was evident in the presence of overseas offices of major Berlin companies associated with the theatre. The buying of rights was one of the most important activities of the entrepreneur. The chapter includes a study of the financial management of Daly’s Theatre in the West End and examines the impact of the depression on the West End and Broadway.