Abba ‘chose the UK’ for virtual show which brings £1.4bn boost to economy
Abba’s virtual concert has boosted the UK economy by more than £1 billion, new analysis shows, as its executive producer sets his sights on another two years of the London residency which he hoped could exist “forever”.
Abba Voyage, which sees digital versions of the Swedish band perform in a purpose-built arena, is set to sell its three millionth ticket this month, since opening in May 2022.
New analysis, carried out by consultancy Sound Diplomacy, shows the concert has generated £1.4 billion in turnover – meaning total sales and spending by those who visited – in its first two years.
The report also estimates nearly £775 million in gross value added to the UK economy, which is worked out by calculating the total generated from sales, minus production and other operational costs.
Sound Diplomacy said it collected thousands of responses to a post-attendance survey to calculate the economic impact.
Michael Bolingbroke, chief executive and executive producer of the show, said the Swedish band “chose the UK when they could’ve gone anywhere else” due to the arena construction, production and technical expertise in the country.
International visitors contributed 31% of attendee spending in the local area over the two-year period, with an average daily spend of £115 per each visitor including on hotels, food and transport.
Mr Bolingbroke told the PA news agency: “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.
“It’s extraordinary. It’s like the Olympics or a Formula One event – it’s that big in people’s minds.”
The experience used innovative motion capture technology and pre-recorded performances by the band to create digital avatars, dubbed “Abbatars”, capturing the pop group as it was in the 1970s.
It also features a 10-piece live band which plays alongside the avatars.
Mr Bolingbroke, who has previously held executive positions at football clubs Manchester United and Inter Milan as well as Cirque Du Soleil, was involved in the production from its inception four years ago.
About £140 million was invested into creating the experience, which he said would take at least four years to recoup, adding that it was a “big punt” for the initial investors.
Members of Abba itself have a “meaningful” stake in the production, he said.
“(Abba Voyage) will certainly run for another couple of years and hopefully longer – in an ideal world we’d stay forever,” Mr Bolingbroke told PA.
“But the land we’re on is, I think, at some point going to become housing, and we knew that from the beginning.”
He said the company was currently in discussions with the London Legacy Development Corporation, the organisation behind Queen Elizabeth Olympic Park, where the arena is based.
The arena, which seats 3,000 people, was designed to be portable, meaning it can be taken down and relocated elsewhere once the show runs its course.
Mayor of London Sadiq Khan said Abba Voyage has been a “phenomenal success story for London” and shows “why our capital is a global leader for music and culture”.
Published: by Radio NewsHub