Photo: The Perfect World Foundation

ABBA’s Investment Firm Acquires Avicii Recording + Publishing Rights

On Wednesday (9.28), Pophouse Entertainment, the music investment firm co-founded by ABBA’s Björn Ulvaeus, announced that it had acquired 75% percent of Avicii’s recording and publishing rights.Though the terms of the deal are currently unavailable to the general public, Variety estimates the value at some nine figures.

In a statement about the deal, Avicii’s father, Klas Bergling said “Pophouse has presented a concrete concept and proposal for the long-term care and development of Tim’s musical heritage.” “An important part of the negotiation about the catalog sale has been to retain sufficient control and personal involvement in its continued development for a long time to come, and ensure a dignified tone in activities related to Tim’s music, his legacy, and connection with his ever-growing fanbase.”

Moving forward, Avicii’s family will work closely with the ABBA co-founded firm and will retain the remaining 25% interest in their son’s repertoire. Pophouse and Avicii’s estate are already working together on the Avicii Experience, an interactive museum about the late DJ.

Pophouse – which has received investments from executives at Universal Music Group and Capitol Music Group – also runs the ABBA Museum and is the lead investor for ABBA Voyage in London. Their latest acquisition follows Pophouse acquiring Swedish House Mafia’s catalog earlier this year.

Per Sundin, the CEO of Pophouse, who originally signed Avicii to Universal Sweden in 2010 stated:

“Tim was not only one of the world’s best DJs, he was an extremely productive genius who always went his own way, mixing genres, challenging conventions and creating music history.” “I followed his whole journey, and it is with honor and pride that I and the entire Pophouse company, together with the Bergling family, will nurture and introduce his music to new generations of listeners in all parts of the world.”

Avicii died in April 2018 by suicide at the age of 28.

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Author: Al Denté

Photo: The Perfect World Foundation