Pophouse Entertainment, the Sweden-based music investment firm behind ABBA Voyage, has raised over €1.2 billion for its debut fund.

The Stockholm-based company announced that Pophouse Fund I reached its hard cap, adding that it was “one of the largest first-time private equity funds to be raised in Europe in the last decade”.

In addition, Pophouse raised over €200m in secured capital through dedicated co-investment vehicles, “providing investors the opportunity to invest alongside the Fund and participate in select transactions”.

The Fund, which will acquire music catalogues and IP, is already approximately 30% deployed via artist partnerships with KISS, Cyndi Lauper, Avicii and Swedish House Mafia.

Additional partnerships with “some of the world’s most recognisable and influential names in the global music industry” are also in the works.

Pophouse said it employs an “artist-centric” approach to investing by targeting three essential rights in music investment: publishing rights, recording rights, and NIL (name, image, and likeness) rights.

Beyond passive catalogue ownership, the firm says it focuses on creating value for its artists and investors through the application of acquired IPs.

“We are reshaping the entertainment industry”

It has launched immersive experiences such as ABBA Voyage, a concert featuring digital avatars of the Swedish pop group, and The Avicii Experience, a tribute to the late Swedish DJ.

Pophouse, founded by ABBA’s Björn Ulvaeus and EQT founder Conni Jonsson, is led by CEO Per Sundin and chaired by Lennart Blecher, EQT’s head of real assets.

“Raising over €1.2bn for our debut fundraising is an extraordinary milestone that firmly establishes Pophouse as a global leader in music investment,” says Natalia Fontecha, partner and head of capital raising & investor relations.

“I couldn’t be prouder of our team’s dedication and diligence, and I extend our heartfelt gratitude to our investors for their trust and partnership. As we look ahead, we are committed to driving innovation and breaking creative and technological boundaries, redefining the entertainment landscape in this transformative era for music while delivering attractive uncorrelated returns for our investors.”

Conni Jonsson, co-founder of Pophouse, adds: “Facing unprecedented disruption caused by streaming and technology, music intellectual property presents a differentiated, lifetime opportunity for investors. We are reshaping the entertainment industry by applying an active, value-add approach that unlocks future generations for fandom.”

The ABBA Voyage concert series launched in May 2022 at the purpose-built 3,000-cap ABBA Arena in London’s Queen Elizabeth Olympic Park, under the direction of producers Svana Gisla and Ludvig Andersson and director Baillie Walsh.

Since its debut, the show has sold more than three million tickets and delivered a £1.4 billion (€1.7bn) boost to the UK economy.

Accounts filed by Aniara, the firm behind the virtual concert residency, previously revealed that ABBA Voyage grossed more than £100 million (€120m) in 2023 after attracting in excess of one million visitors. Standard tickets range from £27.50 to £319.50.

Last year, Pophouse acquired the song catalogue, plus name, image and likeness rights of KISS. The legendary rock band also partnered with the Swedish company on an avatar concert featuring digital versions of themselves, similar to ABBA Voyage.

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ABBA Voyage has delivered a £1.4 billion (€1.7bn) boost to the UK economy since launching in 2022, according to music market development agency Sound Diplomacy.

Almost three million tickets have been sold for the show since it debuted at the purpose-built 3,000-cap ABBA Arena in London’s Queen Elizabeth Olympic Park in May 2022, under the direction of producers Svana Gisla and Ludvig Andersson and director Baillie Walsh.

The show stars the Swedish pop icons in avatar form, backed by a live band. Standard tickets range from £27.50 to £319.50.

Accounts filed by Aniara, the firm behind the virtual concert residency, previously revealed that ABBA Voyage grossed more than £100 million (€120m) in 2023 after attracting in excess of one million visitors.

And, based on thousands of responses from a post-event survey, Sound Diplomacy says the production has generated £1.4bn in total sales and spend by visitors. International customers contributed 31% of spending in the local area, with each visitor spending an average of £115.

“We know that people who live abroad are coming because of ABBA Voyage”

The organisation also estimates close to £775 million in gross value added to the UK economy, when taking into account sales, minus operational costs.

“We know that people who live abroad are coming because of ABBA Voyage – 90% of visitors from abroad have come to the UK to see the show and they’re building a holiday around it,” Michael Bolingbroke, the show’s CEO and executive producer, tells PA. “It’s extraordinary. It’s like the Olympics or a Formula One event – it’s that big in people’s minds.”

Bolingbroke says the band “chose the UK when they could’ve gone anywhere else” due to the country’s strengths in arena construction and production.

The entire venture cost £141 million and was funded privately from Swedish investors. Bolingbroke says the sum will take at least four years to recoup, adding that he is hoping the temporary structure stays at its current London home for at least another two years.

“It will certainly run for another couple of years and hopefully longer – in an ideal world we’d stay forever,” he adds. “But the land we’re on is, I think, at some point going to become housing, and we knew that from the beginning.”

“ABBA Voyage has been a phenomenal success story for London, boosting our economy by more than £1bn”

London mayor Sadiq Khan says: “ABBA Voyage has been a phenomenal success story for London, boosting our economy by more than £1bn and showing again why our capital is a global leader for music and culture.

“The fantastic show is an enduring testament to ABBA’s timeless popularity, as well as providing cultural, financial and social benefits. London is proud to host ABBA Voyage and we look forward to continuing to welcome fans from far and wide to see this unique concert as we build a better London for everyone.”

It ILMC 37 Sound Diplomacy’s Shain Shapiro will be leading a session exploring ways to demonstrate to policymakers how a thriving music scene goes hand in hand with a dynamic cityscape.

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ABBA Voyage grossed more than £100 million (€120m) in 2023 after attracting in excess of one million visitors, it has been revealed.

The groundbreaking production pulled in a total of 1,097,597 visitors last year, according to documents filed in the UK with Companies House by Aniara, the firm behind the virtual concert residency.

Over the 12-month period, the show completed 374 performances and attracted 1,097,597 visitors, achieving an occupancy rate of 97.8%. Revenue from ticket sales was £103,665,597, with Aniara declaring a pre-tax profit of £6,065,402 – more than double the £2,990,757 garnered in 2022, when it played for seven months.

Held at the purpose-built 3,000-cap ‘ABBA Arena’ under the direction of producers Svana Gisla and Ludvig Andersson and director Baillie Walsh, the show debuted at London’s Queen Elizabeth Olympic Park in May 2022.

“During the period, the group successfully operated the ABBA Voyage show, building on the critical acclaim received following its launch in May 2022,” reads the report. “There is a substantial market demand for ABBA Voyage and the directors anticipate a continued high level of activity throughout 2024.

“The group’s long term strategy is to continue the run of the show in London for as long as it remains commercially viable”

“The group’s long term strategy is to continue the run of the show in London for as long as it remains commercially viable.”

The show has brought the Swedish pop legends – Agnetha Fältskog, Björn Ulvaeus (co-founder of lead investor Pophouse Entertainment), Benny Andersson and Anni-Frid Lyngstad – back to the stage in avatar form, supported by a 10-piece live band. Standard tickets range from £27.50 to £319.50.

Costing £141 million, the entire venture was funded privately from Swedish investors. Turnover for the seven months its was active in 2022 was £97,118,038 from 675,600 visitors across 228 shows, meaning ticket sales revenue topped £200m in its first 19 months of operation.

By the year-end of 2023, Aniara had net assets of £13,886,925, compared to £5,826,001 12 months earlier.

Revisit IQ‘s 2022 interview with producers Svana Gisla and Ludvig Andersson and director Baillie Walsh here. Gisla also delivered a keynote during Touring Entertainment Live (TEL) at this year’s ILMC.

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The Swedish entertainment firm that helped bring ABBA Voyage to life is reportedly in talks to revive Elvis Presley in hologram form for live shows.

The Financial Times reports that Pophouse Entertainment, whose co-founder is ABBA’s Björn Ulvaeus, has engaged in discussions with Sony Music, which owns the rights to Presley’s work, and investment company Authentic Brands Group, owner of the singer’s image and likeness.

Ulvaeus teased the potential agreement at a conference in Germany earlier this month, saying: “I would like to see the young Elvis come alive again.”

Pophouse, Sony and ABG declined to comment on the report, which claims the talks have focused on a commercial partnership rather than a sale of the music rights or IP, as opposed to the recent deal that saw Kiss sells the rights to their name, music, image and likeness to Pophouse. The firm has confirmed plans for a Kiss avatar show in 2027, along with a biopic and themed experience.

Presley, who died in 1977 aged 42, was introduced to a new generation in 2022 via the smash-hit big screen biopic Elvis, directed by Baz Luhrmann.

A separate production, Elvis Evolution, is due to launch in London this November

A separate production, Elvis Evolution – a collaboration between Elvis Presley Enterprises, Authentic Brands Group and immersive specialist Layered Reality (LR) – is due to launch in London this November, with further stops planned in Las Vegas, Berlin and Tokyo.

The virtual concert will feature “a life sized digital Elvis” who will “share his most iconic songs and moves for the very first time on a UK stage”, made possible thanks to LR’s “unique blend of technology, augmented reality, theatre, projection and multi-sensory effects”.

A previous show, Elvis In Concert: Live On Screen, toured UK arenas in 2016. The concert experience, which was promoted by Kennedy Street and AAA in conjunction with Elvis’ estate, featured archive performance footage of Presley on video screens, accompanied live on stage by The Royal Philharmonic Orchestra. The production returned to The O2 in London last year.

ABBA Voyage, which blends the virtual and physical worlds, has sold more than two million tickets since launching at the demountable 3,000-cap ‘ABBA Arena’ in 2022. Producer Svana Gisla gave an insight into the show during  Touring Entertainment Live (TEL) at this year’s ILMC.

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Creative Artists Agency (CAA)’s head of strategic development says dead artists will able to continue reaching fans for generations to come thanks to AI.

“We’re seeing versions of that here in the UK with Abba Voyage,” said Alexandra Shannon at the Fortune Brainstorm AI conference in London.

“I think those sorts of experiences and ways to continue reaching fans for generations to come is a powerful opportunity.”

“They are still able to reach fans and engage with fans in the right way,” Shannon added, with the caveat that “they were in control of that.”

Shannon’s comments come as big-name artists such Nicki Minaj, Katy Perry, and Billie Eilish endorse an open letter calling for a crackdown on their material being used to train AI without their permission or fair compensation.

In a bid to counter this, CAA are proactively creating “digital doubles” of its clients under a recent initiative called CAA Vault.

“We are scanning their image, we’re scanning their voice, we’re scanning likeness, and we are then storing that on their behalf,” Shannon said.

“We know that the law is going to take time to catch up, and so this is a mechanism for our clients to actually own and have permissions around their digital identity.”

“I think those sorts of experiences and ways to continue reaching fans for generations to come is a powerful opportunity”

“This provides a way for us to help set a precedent for anyone who wants to work with one of our clients in their digital identity,” she added. “There’s a mechanism to have them be compensated.”

Shannon also warned that using digital doubles of celebrities won’t be a cost-effecient alternative to the real deal.

“If you’re going to work with somebody’s digital self, you aren’t working with that business because you think you can work with that person in a cheaper way that is creating some big cost efficiency for you,” she said.

“At the end of the day, you’re working with somebody—the value is still in that person representing your brand.”

Abba Voyage is case and point, as one of the most expensive productions in music history at £140m (€164m) with an average ticket price of around £85 (€100).

However, the game-changing smash-hit production — which has sold over two million tickets — reportedly grosses more than $2 million (€1.6m) per week and the show’s producer has hinted at plans for global expansion earlier this year.

Meanwhile, Pophouse Entertainment, the Swedish entertainment firm that helped bring ABBA Voyage to life, recently closed a US$300 million with Kiss for the rights to their name, music, image and likeness.

As part of the deal, the firm has confirmed plans for an avatar show in 2027, along with a biopic and themed experience.

“Our mission is to fulfil the band’s vision to become immortal, and to let new generations discover and be part of the KISS journey and carry it forward,” says Johan Lagerlöf, head of investment at Pophouse. “With the help of the fans’ energy, the band, our expertise, and creativity – we will make that vision happen.”

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Rock icons Kiss have sold the rights to their name, music, image and likeness, in a deal valued upward of US$300 million, with an avatar show confirmed for 2027.

Pophouse Entertainment, the Swedish entertainment firm that helped bring ABBA Voyage to life, has acquired the rights to the band’s logo, famed character makeup design, recording royalties and trademarks. The Associated Press and Bloomberg valued the deal at over $300 million, though Pophouse has not disclosed details.

“Our mission is to fulfil the band’s vision to become immortal, and to let new generations discover and be part of the KISS journey and carry it forward,” says Johan Lagerlöf, head of investment at Pophouse. “With the help of the fans’ energy, the band, our expertise, and creativity – we will make that vision happen.”

As part of the deal, the firm has confirmed plans for an avatar show in 2027, along with a biopic and themed experience. Pophouse, which ABBA’s Björn Ulvaeus co-founded, said the deal would “unlock new audiences and revenue streams”.

“It’s an eternal symphony of rock ‘n’ roll immortality”

“We will safeguard and enrich this legacy through future global endeavours, by breathing new life into their characters and personas while also leveraging and elevating the visual world of KISS,” says Pophouse CEO Per Sundin.

The eight-foot-tall avatars of Demon, Starchild, Catman and Spaceman were introduced at the band’s final show at New York’s Madison Square Garden last December, with vocalist Paul Stanley saying today that the decision ushers in an “eternal symphony of rock ‘n’ roll immortality”.

“Our journey with Pophouse is fuelled by the desire to eternally resonate across diverse facets of global culture. As we embark on this venture, we aim to weave our legacy into the tapestry of different worlds, ensuring that the KISS experience continues to captivate both our devoted fans and those yet to discover the thrill,” says Stanley.

The London-based, renowned ABBA Voyage virtual concert — which has sold over two million tickets — reportedly grosses more than $2 million (€1.6m) per week. A smash-hit success, the show’s producer hinted at plans for global expansion earlier this year.

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As one of the keynote interviews during Touring Entertainment Live (TEL) at ILMC, producer Svana Gisla gave a fascinating insight into the creation and operation of ABBA Voyage.

The smash hit show has so far has sold more than two million tickets for the shows in its purpose-built arena in London. And Gisla told delegates that the need to duplicate the tech for the groundbreaking production may soon become reality, as its owners and operators explore building more facilities to entertain fans around the world.

Gisla began by speaking about her background working for a division of Ridley Scott Films, where she was involved in making music videos for the likes of Madonna, Coldplay, the Rolling Stones, Beyoncé and Kylie Minogue among others.

Having created a company with a Swedish film director in 2015, she detailed working with David Bowie in the last six months of his life, and how she swore she would not work with music again. “Then ABBA called,” she laughed.

“In the beginning, we thought it might be a concert and a production that we could take on tour, but it cannot – that is impossible. It needed its own space, so it actually felt very normal that we would build our own arena, so I found myself going around London looking for land… and we found an old car park in the Olympic Park, infested with rats – it was perfect!”

“When you have a team of people who are all already excelling in their fields, and then they raise their game even higher, how can you fail?”

Explaining how the creation of the show happened across various pandemic lockdowns, Gisla noted that the production had to marry the digital world with the physical arena. “Light is the connector – we have five different lighting systems,” she said. But she confessed that there was a fear that if they did not get everything perfect, ABBA Voyage could have become just like watching a film.

Noting another moment that had the potential to end the project, she revealed that during the motion capture element of creation, “The whole project nearly derailed when the boys found out that they would have to shave their beards.”

Costing £141 million, the entire venture was funded privately from Swedish investors. Responding to a question from moderator James Drury, Gisla stated, “The size of it did not scare me because when you have a team of people who are all already excelling in their fields, and then they raise their game even higher, how can you fail?”

Answering a question from a TEL delegate, Gisla shot down suggestions that the ABBA Voyage team is working to create similar shows for other artists. Indeed, she also put the record straight about the many erroneous reports in the press about other companies claiming to be behind the show.

Gisla also ran through some of the astonishing statistics behind ABBA Voyage, saying that the show attracts 21,000 people each week and to date has sold more than two million tickets. “25% of the visitors come from overseas, and 80% of those come to London just to see ABBA,” she said noting that an economic impact study found that the production had generated £322 million for the local area in its first year.

“25% of the visitors come from overseas, and 80% of those come to London just to see ABBA”

Digging further into the numbers she said that 70% of the staff working on ABBA Voyage were hired locally, while the company does its best to be part of the community in its East London location.

“You cannot just come in and take – you have to give something back,” she said. “We do workshops for the local schools and explain to the kids how we did the show, giving them the experience behind the scenes of one of the most high tech shows ever created.”

Describing the purpose-built arena as “the least demountable demountable building,” Gisla concluded that although it is impossible to take the production on the road, its creators are in talks to duplicate the venture in the likes of the United States, Australia and elsewhere in Europe. “It’s a complicated beast, however, because you need to have one million visitors per year to make it a viable business,” she added.

Leading executives from the world’s biggest and most successful touring shows and exhibitions gathered for the inaugural TEL on the final day of this year’s sold out ILMC to discuss the challenges and opportunities facing the multi-billion dollar sector.

Companies attending included ASM Global, Live Nation, FKP Scorpio, Kilimanjaro Group, Neon, Semmel Exhibitions, Fever, TEO, RoadCo Entertainment, Terrapin Station Entertainment, Cirque du Soleil, Harlem Globetrotters, Imagine Exhibitions, Broadway Live, Pophouse Entertainment, Layered Reality.

AEG Europe, Great Leap Forward, Science Museum London, lililililil, Imagine Exhibitions, Universcience, Proactiv Entertainment, Let’s Go Company, MB Presents, World on Ice, Expona, Slam Dunk Entertainment, World Concert Artists, Grand Palais Immersif, Fierylight and Opus One were also in attendance.

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ABBA Voyage in London will hold its first calmer concert, catering to those with sensory processing needs.

The smash-hit virtual concert residency has teamed up with A Relaxed Company, which advises productions and venues on accessibility for neurodiverse and autistic audiences, for the concert on 25 April.

Provisions will be made across ABBA Arena to ensure that those with sensory processing needs can enjoy the concert, including extra trained staff on hand, reduced arena capacity and chill-out zones around the venue.

A sensory setlist outlining what to expect from every song during the concert and a visual story explaining what to expect from the venue are available for any customers who would benefit from them. Sound and lighting at the concert will remain the same.

“ABBA Voyage is a magical experience, and we are so glad that the team is holding the calmer concert so that everyone can experience it,” says Katherine Usher and Chris Pike, co-founders of A Relaxed Company.

“We’ve been working with the whole team to ensure that the concert is ready to welcome everyone, whether you’re neurodivergent, sensory sensitive, or just looking for a calmer alternative.”

“ABBA Voyage is a magical experience, and we are so glad that the team is holding the calmer concert so that everyone can experience it”

ABBA Voyage debuted at London’s Queen Elizabeth Olympic Park in May 2022 to universal acclaim.

Held at the purpose-built 3,000-cap ‘ABBA Arena’ under the direction of producers Svana Gisla and Ludvig Andersson and director Baillie Walsh, the show grossed more than $2 million (€1.87m) a week, it was reported last year.

One of the most expensive productions in music history, the £140m (€164m) show has brought the Swedish group – Agnetha Fältskog, Björn Ulvaeus (co-founder of lead investor Pophouse Entertainment), Benny Andersson and Anni-Frid Lyngstad – back to the stage in avatar form, supported by a 10-piece live band.

The four members of ABBA spent five weeks being filmed by 160 cameras for motion capture as they performed the 22 songs that make up the show’s 95-minute runtime. Other key team members include co-executive producer Johan Renck, choreographer Wayne McGregor and AV tech specialist Solotech UK, led by director of special projects Ian “Woody” Woodall.

ABBA Arena is designed to fit 1,650 seats and space for a standing audience of 1,350. According to Bloomberg, the residency has already generated upwards of €140m in sales after selling over 1.5 million tickets, achieving a 99% occupancy rate with an average ticket price of around £85 (€100).

Discussions are reportedly taking place to expand ABBA Voyage to cities including Las Vegas, New York, Singapore and Sydney.

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Kiss have teased their “new era” as a virtual band will begin in three years’ time following their recent retirement from touring.

The American rock legends unveiled their 8ft “superhero” avatars – created by the team behind ABBA Voyage – during the encore of their retirement show at New York’s Madison Square Garden (MSG) last month, which was livestreamed worldwide on pay-per-view.

The digital avatars were designed by George Lucas’ San Francisco-based Industrial Light & Magic and financed by Pophouse Entertainment, which was co-founded by ABBA’s Björn Ulvaeus.

Now, the group have shared a short promotional video entitled: “50 years is a long time, and what the future holds is in the making,” which states that “a show is coming” in 2027. The video includes quotes from Kiss’ Paul Stanley and Gene Simmons, as well as fans of the band.

“We can live on eternally”

“The future is so exciting,” says Simmons in the below clip, with Stanley adding: “We can live on eternally.”

Kiss concluded their near five-year, 250-show End of the Road Tour at MSG on 2 December 2023. The group will also live on through other ventures including a Las Vegas museum, cruises, and a forthcoming movie and cartoon.

“Everybody should really look forward to what is going to come,” the group’s longtime manager Doc McGhee told IQ last year. “With the technology that we have, I think you’re going to see this manifest into something completely crazy – a mind-blowing experience.”

The virtual show will follow in the footsteps of the smash-hit ABBA Voyage virtual concert residency, which has created a new model for legendary artists since debuting to widespread acclaim in 2022, reportedly grossing more than $2 million (€1.6m) a week.

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Kiss gave a glimpse into their future as a virtual band at their “final ever” concert after unveiling digital avatars created by the team behind ABBA Voyage.

The American rock icons debuted the technology during the encore of their retirement show at New York’s Madison Square Garden on 2 December, which was livestreamed worldwide on pay-per-view.

Their 8ft “superhero” avatars – Demon, Starchild, Catman and Spaceman – were designed by George Lucas’ San Francisco-based Industrial Light & Magic (ILM) and financed by Pophouse Entertainment, which was co-founded by ABBA’s Björn Ulvaeus.

“This is the sneak peek as the band crosses over from the physical world to the digital,” Grady Cofer, visual effects supervisor at ILM, tells Fast Company. “We want to give fans a sense of the many forms this band could take in the future.”

In a video posted in the wake of Saturday’s swansong, Kiss singer Paul Stanley said: “The band will never stop because we don’t own the band. The fans own the band, the world owns the band.”

“We can be forever young and forever iconic by taking us to places we’ve never dreamt of before”

“We can be forever young and forever iconic by taking us to places we’ve never dreamt of before,” added bassist Gene Simmons. “The technology is going to make Paul jump higher than he’s ever done before.”

While Thierry Coup, ex-chief creative officer at Universal Destinations & Experiences, has been hired as the virtual show’s creative director, Pophouse CEO Per Sundin says where it goes from here is yet to be finalised.

“We’re going to figure it out after the tour,” says Sundin. “Is it a Kiss concert in the future? Is it a rock opera? Is it a musical? A story, an adventure?”

The 50-year-old band’s longtime manager Doc McGhee hinted at the avatar plans in a career-spanning interview with IQ earlier this year.

“2024 will bring something new and something that the business has never seen before,” he said. “Everybody should really look forward to what is going to come. With the technology that we have, I think you’re going to see this manifest into something completely crazy – a mind-blowing experience.”

“If you are an artist, you can create your legacy in a way you never could before”

Kiss, who initially announced their retirement in 2000, began their 250-show End of the Road Tour in Vancouver, Canada in January 2019. The group will also live on through other ventures including a Las Vegas museum, cruises, and a forthcoming movie and cartoon.

The smash-hit ABBA Voyage virtual concert residency has created a new model for legendary artists since debuting to widespread acclaim in 2022, reportedly grossing more than $2 million (€1.6m) a week.

Held at the purpose-built 3,000-cap ‘ABBA Arena’ at London’s Queen Elizabeth Olympic Park under the direction of producers Svana Gisla and Ludvig Andersson and director Baillie Walsh, the £140m (€164m) show has brought the Swedish group back to the stage in avatar form, supported by a 10-piece live band.

According to Bloomberg, ABBA Voyage has achieved a 99% occupancy rate with an average ticket price of around £85 (€100) and discussions have taken place to expand the production to cities including Las Vegas, New York, Singapore and Sydney,

“If you are an artist, you can create your legacy in a way you never could before,” said Sundin. “This is such a success. We already have been talking to some artists that really want to do this.”

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