ABBA's virtual show boosts London's economy to the tune of US$225 million

Thank you for the music, London’s authorities might say, after Swedish pop group ABBA’s digital concert residency raked in US$225 million in terms of net economic benefit to the British capital in its first year.

ABBA Voyage recreates Bjorn Ulvaeus, Benny Andersson, Agnetha Faltskog and Anni-Frid Lyngstad as high-tech, digital versions of themselves from their 1970s heyday, thanks to motion-capture technology.

The show, which has been seen by more than 1 million people, generated a total turnover of £322.6 million (S$542.4 million) in the 12 months since it opened in May 2022, according to an analysis by Sound Diplomacy and RealWorth published on Thursday (Dec 21).

Fans are willing to fork out ever-increasing amounts for concert tickets to see big artists like Taylor Swift and Beyoncé perform live, and in ABBA’s case, virtually live.

A standing ticket for ABBA’s show is priced at just over £100 for some dates next summer, comparable to live concerts by Swift, who brings her record-breaking “Eras” tour to Britain next year.

Accompanied by a live band, the avatars, or ABBA-tars, perform some 20 songs during the 90-minute show, featuring the band in their signature glittering outfits.

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The lighting and special effects create the illusion of the Swedish pop superstars on stage in a purpose-built arena in east London.

ABBA, whose members are now in their 70s, worked with an 850-strong team from Industrial Light & Magic, founded by Star Wars creator George Lucas, for the project. REUTERS