Pophouse Leisure, the Swedish leisure firm headed by former Common 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 Expertise interactive tribute museum in Stockholm in February, born of a partnership between the household and property of Avicii (Tim Bergling) and Pophouse CEO Sundin, who first signed Avicii as CEO of Common Sweden in 2010.
Pophouse disclosed the newest deal in a joint assertion with the Tim Bergling Basis on Wednesday, September 28, with out revealing the monetary phrases of the transaction.
The Bergling household will proceed to be intently concerned in Avicii’s music because the minority proprietor of a 25% stake.
They can even kind a three way partnership with Pophouse to develop and safeguard Avicii’s legacy by future international tasks, such because the interactive tribute museum in Stockholm.
The deal comes six months after Pophouse acquired grasp recordings and launched catalogs of digital music stars Swedish Home Mafia, together with their author’s shares.
It was the corporate’s first time getting into the rights acquisition area.
With the sale, Tim Bergling’s dad and mom, Klas Bergling and Anki Lidén, will be capable of take a step again from lots of the duties essential to run the Avicii property and permit them to focus extra on the Tim Bergling Basis, stated Pop home.
The muse was launched a 12 months after the artist’s dying in April 2018.
“My spouse and I really feel that as we age, we do not have the suitable stage of power or abilities required to remain forward of the brand new streaming and digital developments which are important for such an incredible and gifted artist. worldwide than Tim,” Avicii’s dad and mom stated. in a report.
The Avicii model is owned by an organization referred to as Avicii AB, which is wholly owned by the muse. Via a 50/50 three way partnership with Pophouse, the Avicii model will probably be managed by each events.
“The Tim Bergling Basis continues to have full entry to the model and may proceed as earlier than, with out catalog exercise limiting new or further collaborations. Due to the catalog exercise, the Basis obtains utterly new prospects for enlargement and an indefinitely longer lifespan,” stated Klas Bergling and Anki Lidén.
The transaction will safe the muse’s long-term funds and create alternatives to assist key points equivalent to youth psychological well being and wellbeing, they added. The muse helps helplines, builds music studios in uncovered areas, and gives music remedy, live shows, and different open actions to remove the stigma related to psychological well being points and suicide.
“Working with the Tim Bergling Basis is a full-time dedication for us. The muse has solely been in existence for a couple of years and there may be nonetheless loads to do,” Avicii’s dad and mom added.
“The Tim Bergling Basis continues to have full entry to the model and may proceed as earlier than, with no catalog exercise limiting new or further collaborations.”
Klas Bergling and Anki Liden
The collaboration can even make sure that Avicii’s fanbase will probably be taken care of, they stated.
Avicii shot to fame in 2011 along with his Grammy-nominated single Ranges, and a few 12 months later he was ranked the #1 DJ on the earth by DJ Journal. He then launched his first studio album True in 2012, which reached the highest 10 in over 15 international locations, fueled by the album’s lead single Wake me up.
Additionally in 2012, the artist was nominated for a Grammy Award for his work on Sunshine with David Guetta in 2012. In 2015, Avicii launched their second chart-topping album, tales, and a fourth EP, Aviciin 2017.
All through his profession, Avicii has teamed up with plenty of artists from completely different genres, together with 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 additionally produced music for Madonna, Coldplay, David Guetta and Tiësto.
“It’s with honor and satisfaction that I and your entire Pophouse firm, together with the Bergling household, will nurture and current his music to new generations of listeners in all elements of the world.”
By Sundin, Pophouse
Pophouse CEO Per Sundin stated: “Tim was not solely among the finest DJs on the earth, he was a massively productive genius who at all times went his personal method, mixing genres, defying conference and creating music historical past.
“I’ve adopted his whole journey, and it’s with honor and satisfaction that I and your entire Pophouse firm, along with the Bergling household, will nurture and current his music to new generations of listeners in all elements of the world. “
Following his passing, the artist’s third and last album, Tim, was launched in 2019 that includes collaborations with Swedish producers and songwriters equivalent to Vincent Pontare, Salem Al Fakir, Carl Falk, Joakim Berg, Albin Nedler and Kristoffer. Fogelmark.
Up to now, Avicii’s music attracts over 30 million month-to-month listeners on Spotify.
“We’re investing to construct a roster of artists who’ve formed the sound of recent pop music.”
Johan Lagerlöf, Pophouse
Talking concerning the acquisition of a majority stake in Avicii’s catalog, Pophouse Chief Funding Officer Johan Lagerlöf stated, “We’re investing to construct a roster of artists who’ve formed the sound of recent pop music. . Artists who’ve songs and recordings that could possibly be classics right this moment and icons tomorrow.
“Pioneers of their time on a world scale. Such legacies shouldn’t solely be remembered, they need to be absolutely lived in new and thrilling methods. It’s the future we’re shaping.
Pophouse was based in 2014 by EQT founder Conni Jonsson and ABBA pop music icon Björn Ulvaeus.
The corporate is the lead investor behind the ABBA Voyage venture in London, which hosts a year-round ABBA Voyage live performance that includes avatars of the band accompanied by a 10-piece reside band.The music business around the globe