In February, we told you that Pophouse, the Swedish entertainment company run by former Universal Music Sweden boss Per Sundin, was planning to invest in music rights.
Today (March 29), the company announced its entry into the rights acquisition space by acquiring the full master recordings and releasing the catalogs of electronic music stars Swedish House Mafia (including their shares copyright).
The deal, for an undisclosed amount, also includes the full acquisition of Axwell^Ingrosso’s masters and publishing.
Additionally, Pophouse said he would form what he calls a “first of its kind” joint venture with the band members to grow and amplify the Swedish House Mafia brand worldwide.
Alongside today’s acquisition news, Pophouse also revealed that it is expanding the company’s sights beyond Sweden, to the US and UK markets, and named industry veteran Steve Barnett Musician and former Chairman and CEO of Capitol Music Group, to its Investment Advisory Board.
According to a press release, Barnett has been “charged with leading the company’s targeted outreach to US and UK-based rightsholders to jointly invest in and build on the heritage of iconic entertainment brands. “.
Barnett’s appointment to Pophouse comes just after he announced his retirement (December 31, 2020), after a 50-year career in the music industry, including eight years at the helm of CMG.
Pophouse was established in 2014 by ABBA Fellow Björn Ulvaeus and Conni Jonsson, EQT Founder and Chairman of the EQT Board, as a business when the company established the world-renowned ABBA Museum in Stockholm.
The company has since expanded into many other ventures in Stockholm, Sweden, including: Space, which claims to be the largest gaming center in the world; Pippi at the Circus, a musical based on Astrid Lindgren’s character Pippi Longstocking, hosted in the company’s Cirkus arena; and Nordic podcast house Perfect Day Media.
Pophouse is also the main investor behind the ABBA Voyage project in a custom-built arena in London, which will host a year-round ABBA Voyage concert from May this year, featuring avatars of the band accompanied by a live band. of 10 musicians.
Swedish House Mafia attracts nearly 19 million listeners per month on Spotify and has racked up billions of combined streams and views.
The group will release their first studio album, paradise again, on April 15 via Republic Records. They recently had a hit with Sacrifice on The Weeknd’s new album, Dawn FM.
The trio will embark on their Paradise Again world tour in July, headlining major festivals and venues through November.
“I’m thrilled to join them and the entire Pophouse team as we forge new partnerships on behalf of artists in the US, UK and beyond.”
steve barnet
Steve Barnett said: “I have known Per and Johan for many years and have worked closely with them on so many efforts on behalf of artists.
“I also had the pleasure of helping relaunch the illustrious ABBA catalog in America at Capitol, and [ABBA member and Pophouse founder] Björn Ulvaeus is quite simply one of the most creative and forward-thinking artists and leaders in our company’s history.
“I’m thrilled to join them and the entire Pophouse team as we forge new partnerships on behalf of artists in the US, UK and beyond.”
“Swedish House Mafia are a groundbreaking trio who have brought club music to stadiums around the world, and they continue to lead the way in contemporary electronic and dance music.”
By Sundin, Pophouse
Pophouse CEO Per Sundin added: “Swedish House Mafia are a groundbreaking trio who have brought club music to stadiums around the world, and they continue to lead the way in contemporary electronic and dance music.
“We are thrilled to partner with them to tell this story for generations to come.
“While our landmark agreement with them involves acquiring the recordings and releasing their catalog, this is our first joint venture with band members that exemplifies the types of partnerships we pursue in our purposeful expansion.”
“It’s great for us to partner with a company like Pophouse that will do more than just acquire our creative work.”
Swedish house mafia
Swedish House Mafia said: “It’s great for us to partner with a company like Pophouse who will do so much more than just acquire our creative work.
“Pophouse will invest funds, know-how and resources to take our music into areas of entertainment where it has never been before and to bring new audiences to our legacy.”
“For Pophouse, an acquisition is just the beginning of the relationship.”
Johan Lagerlöf, Pophouse
Pophouse’s Chief Investment Officer, Johan Lagerlöf, said: “For Pophouse, an acquisition is just the beginning of a relationship.
“We are here to invest more in brand building activities that amplify artists’ legacies to new audiences and develop new revenue streams, as we have successfully done in our other endeavors.
“Pophouse does not replace any existing players, but partners with artists’ existing teams and partners to grow the business for everyone.”
In February, Pophouse announced that Catherine Powell and Alexandra Lutz were joining its board of directors.
Powell is currently Global Head of Lodging at Airbnb and was previously President of Disney Parks, Western Region.
Alexandra Lutz is a partner at investment firm EQT, whose investments include Swedish music success story Epidemic Sound.
Other members of Pophouse’s board include company chairman and former Manchester United executive Michael Bolingbroke, who is an executive producer for ABBA Voyage.The music industry around the world
