Abba’s virtual concert has boosted the UK economy by more than £1bn, new analysis shows, as its executive producer sets his sights on another two-year London residency he hoped could exist “forever.” “.
Abba Voyage, which features digital versions of the Swedish band in a specially designed stadium, will sell its three millionth ticket this month, since opening in May 2022.
New analysis, by consultancy Sound Diplomacy, shows that the concert has generated £1.4bn in turnover (i.e. total sales and visitor spending) in its first two years.
The report also estimates almost £775 million in gross value added to the UK economy, which is calculated by calculating the total generated by sales, minus production and other operating costs.
Sound Diplomacy said it collected thousands of responses to a post-attendance survey to estimate the economic impact.
Michael Bolingbroke, the show’s CEO and executive producer, said the Swedish band “chose the UK when they could have gone anywhere else” because of the stadium 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 visitor, including hotels, food and transport.
Bolingbroke told the PA news agency: “We know that people who live abroad come because of Abba Voyage… 90% of visitors from abroad have come to the UK to see the show and they are organizing a holiday around him.
“It’s extraordinary. “It’s like the Olympics or a Formula One event – that’s how important it is in people’s minds.”
The experience used innovative motion capture technology and pre-recorded performances by the band to create digital avatars, called “Abbatars,” that capture the pop group as they were in the 1970s.
It also features a 10-piece live band that plays alongside the avatars.
Bolingbroke, who previously held executive positions at soccer clubs Manchester United and Inter Milan, as well as Cirque Du Soleil, was involved in the production since its inception four years ago.
Around £140m was invested in creating the experience, something he said would take at least four years to pay back, adding it was a “big gamble” for the initial investors.
Abba members have a “significant” interest in the production, he said.
“(Abba Voyage) will certainly last a couple of more years and hopefully longer – in an ideal world we would stay forever,” Bolingbroke told PA.
“But I think the land we are on will eventually become housing, and we knew that from the beginning.”
He said the company was currently in talks with the London Legacy Development Corporation, the organization behind the Queen Elizabeth Olympic Park, where the stadium is located.
The arena, which seats 3,000, was designed to be portable, meaning it can be dismantled and relocated to another location once the show is over.
London Mayor Sadiq Khan said Abba Voyage has been a “phenomenal success story for London” and shows “why our capital is a world leader in music and culture”.