Photograph Credit score: ABBA Voyage
The ‘ABBA Voyage’ avatar concert events have pumped almost $410 million into London’s native economic system this yr, based on a brand new examine.
ABBA Voyage, the digital manufacturing that includes projections of the band, has introduced in almost $410 million (£320 million) into London’s economic system — greater than 40% of that generated regionally, based on the BBC. The present opened in Might 2022, with over 1,000,000 tickets bought within the first yr.
The examine, carried out by Sound Diplomacy and RealWorth, and initially reported by the BBC, discovered that the present on the 3,000-seat ABBA Area — a £50 million purpose-built facility in Stratford, East London — contributed £322.6 million in spending and £177.7 million in further financial exercise in its first yr.
Utilizing projections of the band known as “ABBAtars” permits the ABBA Voyage to indicate each night time, whereas ABBA makes over $2 million every week from the present, based on Bloomberg.
The ABBAtar variations of the Swedish band — Agnetha Fältskog, Björn Ulvaeus, Benny Andersson, and Anni-Frid Lyngstad — have been created by means of movement seize from visible results firm Industrial Mild & Magic. The group seems as their iconic 1979-era variations, because the members themselves at the moment are of their 70s.
ABBA Voyage is without doubt one of the costliest productions in music historical past at about $175 million (£140 million) earlier than the primary present, and the venue is 99% full each night time, at about $100 per ticket.
The vast majority of the financial influence within the native London space has come from paying for resorts, meals/drink, transportation, and purchasing. The typical spend per particular person was £103 along with the ticket value, as much as £135.
In the meantime, the report claims that ABBA Voyage has supported over 5,000 jobs within the London space, together with these straight employed on the venue and in different sectors that depend on spending by guests. Practically half of the non-ticket spend from these from out of city got here from elsewhere within the UK, with over 40% from international guests.
“The unbelievable success of ABBA Voyage reveals as soon as once more how London is the music capital of the world and is roaring again from the influence of the pandemic,” mentioned Sadiq Khan, Mayor of London. “I’m so proud that Metropolis Corridor was capable of assist ABBA convey this pioneering present to East London, offering enormous advantages to each the native space and London’s wider economic system.”