Pophouse Entertainment, the Swedish entertainment company headed by former Universal Music Sweden CEO Per Sundin, has acquired a 75% stake in Avicii’s masters and publishing catalog.
The deal follows the launch of the Avicii Experience interactive tribute museum in Stockholm in February, born of a partnership between the family and estate of Avicii (Tim Bergling) and Pophouse CEO Sundin, who first signed Avicii as CEO of Universal Sweden in 2010.
Pophouse disclosed the latest deal in a joint statement with the Tim Bergling Foundation Wednesday, September 28, without disclosing the financial terms of the transaction.
The Bergling family will continue to be closely involved in Avicii’s music as the minority owner of a 25% stake.
They will also form a joint venture with Pophouse to develop and safeguard Avicii’s legacy through future global projects, such as the interactive tribute museum in Stockholm.
The deal comes six months after Pophouse acquired master recordings and released catalogs of electronic music stars Swedish House Mafia, including their writer’s shares.
It was the company’s first time entering the rights acquisition space.
With the sale, Tim Bergling’s parents, Klas Bergling and Anki Lidén, will be able to take a step back from many of the tasks necessary to run the Avicii estate and allow them to focus more on the Tim Bergling Foundation, said Pop house.
The foundation was launched a year after the artist’s death in April 2018.
“My wife and I feel that as we age, we don’t have the right level of energy or skills required to stay ahead of the new streaming and digital developments that are vital for such a great and talented artist. international than Tim,” Avicii’s parents said. in a report.
The Avicii brand is owned by a company called Avicii AB, which is wholly owned by the foundation. Through a 50/50 joint venture with Pophouse, the Avicii brand will be managed by both parties.
“The Tim Bergling Foundation continues to have full access to the brand and can continue as before, without catalog activity limiting new or additional collaborations. Thanks to the catalog activity, the Foundation obtains completely new possibilities for expansion and an indefinitely longer lifespan,” said Klas Bergling and Anki Lidén.
The transaction will secure the foundation’s long-term finances and create opportunities to support key issues such as youth mental health and wellbeing, they added. The foundation supports helplines, builds music studios in exposed areas, and offers music therapy, concerts, and other open activities to eliminate the stigma associated with mental health issues and suicide.
“Working with the Tim Bergling Foundation is a full-time commitment for us. The foundation has only been in existence for a few years and there is still a lot to do,” Avicii’s parents added.
“The Tim Bergling Foundation continues to have full access to the brand and can continue as before, with no catalog activity limiting new or additional collaborations.”
Klas Bergling and Anki Liden
The collaboration will also ensure that Avicii’s fanbase will be taken care of, they said.
Avicii shot to fame in 2011 with his Grammy-nominated single Levels, and about a year later he was ranked the #1 DJ in the world by DJ Magazine. He then launched his first studio album True in 2012, which reached the top 10 in over 15 countries, fueled by the album’s lead single Wake me up.
Also in 2012, the artist was nominated for a Grammy Award for his work on Sunshine with David Guetta in 2012. In 2015, Avicii released their second chart-topping album, stories, and a fourth EP, Aviciin 2017.
Throughout his career, Avicii has teamed up with a number of artists from different genres, including Coldplay singer Chris Martin, Nile Rodgers, bluegrass artist Dan Tyminski, country-rock singer Zac Brown, singer glam-pop Adam Lambert, rapper-singer Wyclef Jean and Rita Ora.
Avicii has also produced music for Madonna, Coldplay, David Guetta and Tiësto.
“It is with honor and pride that I and the entire Pophouse company, along with the Bergling family, will nurture and present his music to new generations of listeners in all parts of the world.”
By Sundin, Pophouse
Pophouse CEO Per Sundin said: “Tim was not only one of the best DJs in the world, he was a hugely productive genius who always went his own way, mixing genres, defying convention and creating music history.
“I have followed his entire journey, and it is with honor and pride that I and the entire Pophouse company, together with the Bergling family, will nurture and present his music to new generations of listeners in all parts of the world. “
Following his passing, the artist’s third and final album, Tim, was released in 2019 featuring collaborations with Swedish producers and songwriters such as Vincent Pontare, Salem Al Fakir, Carl Falk, Joakim Berg, Albin Nedler and Kristoffer. Fogelmark.
To date, Avicii’s music attracts over 30 million monthly listeners on Spotify.
“We’re investing to build a roster of artists who have shaped the sound of modern pop music.”
Johan Lagerlöf, Pophouse
Speaking about the acquisition of a majority stake in Avicii’s catalog, Pophouse Chief Investment Officer Johan Lagerlöf said, “We are investing to build a roster of artists who have shaped the sound of modern pop music. . Artists who have songs and recordings that could be classics today and icons tomorrow.
“Pioneers of their time on a global scale. Such legacies should not only be remembered, they should be fully lived in new and exciting ways. It is the future we are shaping.
Pophouse was founded in 2014 by EQT founder Conni Jonsson and ABBA pop music icon Björn Ulvaeus.
The company is the lead investor behind the ABBA Voyage project in London, which hosts a year-round ABBA Voyage concert featuring avatars of the band accompanied by a 10-piece live band.The music industry around the world