The family of Avicii decided to sell 75% of the late DJ’s catalog. As a matter of fact, three-quarters of the Swedish producer’s masters recordings and publishing will go to Pophouse Entertainment, the Stockholm-based company co-founded by Bjorn Ulvaeus, one of ABBA‘s members. Tim’s family will keep ownership of the remaining 25%. Details on the deal have not been disclosed.
According to the statement, the two parties will continue working closely to preserve Avicii’s legacy via a joint venture. Pophouse and Avicii’s estate already opened the Avicii Experience, an interactive museum that serves tribute to the late superstar. Take a look at what Tim’s father had to say on the transaction :
“Pophouse has presented a concrete concept and proposal for the long-term care and development of Tim’s musical heritage. Through this deal, we are also securing the Tim Bergling Foundation’s long-term finances, creating opportunity to act decisively on the Foundation’s commitments to supporting such important issues as mental health and well-being of young people. Working with the Tim Bergling Foundation is a full-time commitment for us. The foundation has only been running for a few years and much needs to be done for a long time to come”.
At the beginning of the year, Pophouse acquired the masters and publishing of Swedish House Mafia. The company also formed a joint venture with the popular trio, as they did with Avicii’s family. CEO Per Sundin commented on the move that brings the two biggest dance-music acts in Sweden’s history under the same roof.
“Tim was not only one of the world’s best DJs, he was an extremely productive genius who always went his own way, mixing genres, challenging conventions and creating music history. I followed his whole journey, and it is with honour and pride that I and the entire Pophouse company, together with the Bergling family, will nurture and introduce his music to new generations of listeners in all parts of the world”.
Stay tuned for more news!
