In February, we told you that Pophouse, the Swedish entertainment company led by former Universal Music Sweden boss Per Sundin, was planning to invest in music rights.
Today, (March 29) the company has announced its entrance into the rights acquisition space by fully acquiring the master recordings and publishing catalogs of electronic music stars Swedish House Mafia (including their writer’s shares).
The agreement, for an undisclosed sum, also includes the full acquisition of the masters and publishing of Axwell^Ingrosso.
In addition, Pophouse says that it will form what it calls a “first-of-its-kind” joint venture with the group’s members to develop and amplify the Swedish House Mafia brand worldwide.
Alongside today’s acquisition news, Pophouse has also revealed that it’s expanding the company’s sights beyond Sweden, to the US and UK markets, and has appointed music industry veteran and former Capitol Music Group Chairman & CEO Steve Barnett to its Investment Advisory Committee.
According to a media statement, Barnett has been “charged with leading the company’s targeted outreach with US and UK-based rights-holders to invest in and jointly build upon the legacies of iconic entertainment brands”.
Barnett’s appointment at Pophouse comes just over after he announced his retirement (on December 31, 2020), following a 50-year career in the music business, including eight years at the helm of CMG.
Pophouse was formed in 2014 by ABBA member Björn Ulvaeus and EQT Founder and Chair of the EQT Board Conni Jonsson as a venture when the company created the world-renowned ABBA Museum in Stockholm.
The company has since expanded into numerous other endeavors in Stockholm, Sweden, including: Space, claimed to be the largest gaming center in the world; Pippi at the Circus, a musical based on Astrid Lindgren character Pippi Longstocking, housed in the company’s Cirkus arena; and Nordic podcast house Perfect Day Media.
Pophouse is also the lead investor behind the ABBA Voyage project at a custom-built arena in London, which will house a year-round ABBA Voyage concert starting in May this year, featuring avatars of the group accompanied by a 10-piece live band.
Swedish House Mafia attract nearly 19 million listeners a month on Spotify, and have accumulated billions of combined streams and views.
The group will release their debut studio album, Paradise Again, on April 15 through 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 arena venues through November.
“I’m thrilled to be joining them and the entire Pophouse team as we forge new partnerships on behalf of artists in the US, UK and beyond.”
Steve Barnett
Steve Barnett said: ”I’ve known Per and Johan for many years, and have worked closely with them on so many endeavors on behalf of artists.
“I also had the pleasure of helping to relaunch the illustrious ABBA catalog in America at Capitol, and [ABBA member and Pophouse founder] Björn Ulvaeus is simply one of the most creative and forward-thinking artists and executives in the history of our business.
“I’m thrilled to be joining them and the entire Pophouse team as we forge new partnerships on behalf of artists in the US, UK and beyond.”
”Swedish House Mafia is a groundbreaking trio that brought club music to stadiums around the world, and they continue to pave the way in contemporary electronic and dance music.”
Per Sundin, Pophouse
Pophouse CEO Per Sundin added: ”Swedish House Mafia is a groundbreaking trio that brought club music to stadiums around the world, and they continue to pave the way in contemporary electronic and dance music.
“We are so excited to be partnering with them to tell that story for generations to come.
“While our landmark agreement with them involves the acquisition of the recordings and publishing of their back catalog, it is our first-of-its-kind joint venture with the band’s members that exemplifies the types of partnerships we are pursuing in our targeted expansion.”
“It feels great for us to partner up with a company like Pophouse that will do much more than simply acquire our creative work.”
Swedish House Mafia
Swedish House Mafia said: “It feels great for us to partner up with a company like Pophouse that will do much more than simply acquire our creative work.
“Pophouse will invest funds, know-how and resources to bring our music into areas of entertainment where it hasn’t been before and for new audiences to discover our legacy.”
”For Pophouse, an acquisition is just a starting point in the relationship.”
Johan Lagerlöf, Pophouse
Pophouse Head of Investments, Johan Lagerlöf, said: ”For Pophouse, an acquisition is just a starting point in the relationship.
“We are here to invest further in brand-building activities that amplify artist legacies to new audiences and develop new revenue streams as we’ve done so successfully in our other endeavors.
“Pophouse is not replacing any existing stakeholder, but is joining forces with artists’ existing teams and partners to grow the business for all.”
In February, Pophouse announced that Catherine Powell and Alexandra Lutz were joining its Board.
Other Pophouse board members include the firm’s Chairman and former Manchester United executive, Michael Bolingbroke, who is Executive producer for ABBA Voyage.Music Business Worldwide
