In recent years, some of the biggest names in the investment industry have sought to transform music catalogs into money-making assets. Most have pinned their hopes on streaming revenue and licensing songs for ads. But billionaire Conni Jonsson, founder of the world’s third-largest private equity firm, EQT AB, is making a bolder bet: that fans will fork over hundreds of dollars to engage with artists’ likenesses and stories. And specifically, that ABBA enthusiasts around the world will pay up to $270 a ticket to enjoy four hours of the band’s hits over lamb stifado in a faux Greek taverna.
Pophouse Entertainment Group AB, an investment firm that Jonsson co-founded a decade ago as a side gig, has just acquired the licensing rights to this “immersive dining experience” for an undisclosed sum from Bjorn Ulvaeus, an original member of ABBA. Ulvaeus, who is also a Pophouse co-founder, created and debuted Mamma Mia! The Party in Stockholm eight years ago. With plans now in the works to expand the show into Australia, the US and Japan, Pophouse is hoping to replicate the success of ABBA Voyage, a 90-minute virtual reality concert it helped develop which has sold over two million tickets since 2022.