Christopher BarrettABBA Voyage, achieved a pre-tax profit of £6.07 million last year, while grossing more than £100m.
The virtual concert series, which sees digital versions of ABBA members perform seven times a week in the purpose-built 3,000-capacity ABBA Arena in East London, achieved a 6.7% year-on-year uplift in turnover to £103.67m in 2023 from £97.12m the previous year
According to documents filed with Companies House by Aniara Ltd, the company behind the production and management of the concert series and its Stratford venue, the production achieved an occupancy rate of 97.8%, having attracted 1,097,597 visitors last year compared to 675,600 in 2022.The show series was launched in May 2022.
In the filing, Aniara Ltd’s board expressed confidence about the longevity of the event: “There is substantial market demand for ABBA Voyage, and the directors anticipate a continued high level of activity throughout 2024. The main uncertainties that could impact the group relate to general economic developments and the potential for new Covid-19 outbreaks.”
Designed by Stufish Entertainment Architects and built by ES Global, the venue in Queen Elizabeth Olympic Park houses a 6,710sqm theatre in which avatars of ABBA members Agnetha, Björn, Benny and Anni-Frid, created by Industrial Light & Magic, perform digitally with a 10-piece band.
In April, veteran rock act KISS agreed a $300m deal to sell their song catalogue, name and IP including image and likeness to Pophouse Entertainment, which was the founding investor in ABBA Voyage.
Two months later Pophouse reportedly met with the owners of Elvis Presley’s intellectual property with the aim of returning him to the stage as a digital avatar.