ABBA Voyage contributed £322.6 million (approx. $408m) in turnover to the London economic system in its first 12 months of operation (between Could 2022 and Could 2023).
That’s in line with a brand new evaluation of the live performance collection’ first-year socio-economic affect on London and the local people.
ABBA Voyage sees digital variations of ABBA carry out seven instances every week in their very own purpose-built 3,000-capacity ABBA Area in East London.
Created with Agnetha Fältskog, Björn Ulvaeus, Benny Andersson and Anni-Frid Lyngstad, directed by Baillie Walsh, and produced by Svana Gisla and Ludvig Andersson, ABBA Voyage opened on Could 26, 2022. On this first 12 months of operation, it attracted over 1 million guests, 20% of whom had traveled from outdoors of the UK.
Voyage was created by ABBA together with Sweden-headquartered Pophouse Leisure and Industrial Gentle & Magic, the George Lucas-founded and Disney-owned visible results firm most well-known for engaged on Star Wars properties by the many years.
Founding ABBA member Björn Ulvaeus is a shareholder in, and board member of, Pophouse. The corporate is led by former Common Music Sweden Managing Director Per Sundin.
Compiled and assessed by world analysis and technique consultancy Sound Diplomacy and social worth consultancy RealWorth, the brand new report covers the primary operational 12 months of ABBA Voyage (Could 2022 – Could 2023), with the intention for the report back to be repeated yearly.
This report additionally features a one-off evaluation of the interval of building for the ABBA Area.
In response to the report, ABBA Voyage “has had a major and constructive financial and social affect” on London and the native space (the boroughs of Newham, Hackney, Tower Hamlets, Waltham Forest; closest to the Area location in Pudding Mill Lane).
A number of the key stats from the ABBA Voyage financial affect report have been that between Could 2022 to Could 2023, ABBA Voyage contributed £322.6 million to the London economic system.
The report explains additional that the £322.6 million turnover determine is calculated because the financial worth of: the products or companies generated by the development of the ABBA Area in London and the native space and; the operation of ABBA Voyage in London and the native space.
Additionally included in that determine is the financial worth of the products or companies bought to the attendees within the native space, when attending ABBA Voyage.
The report additionally exhibits £177.7 million ($225.13m) in GVA (Gross Worth Added) within the first 12 months of operation.
The GVA consists of:
- The funding in ABBA Area’s building minus the intermediate consumption (the prices of all inputs).
- The turnover of ABBA Voyage minus the intermediate consumption (the prices of all inputs).
- The turnover of the opposite sectors of the economic system that profit from the spending of attendees, minus their intermediate consumption.
Elsewhere, the report exhibits that ABBA Voyage has offered employment alternatives for 5,075 staff in London; together with these immediately related to the live performance and people in different sectors which are supported by ABBA Voyage’s existence through attendee spend (i.e. ready employees, gross sales employees, cooks, resort clerks).
In response to the report, 181,674 worldwide guests contributed £42.72 million (36%) of the direct attendee spend within the native space.
Worldwide guests contributed 43% (£83.4 million) of the direct attendee spend in London – with half 1,000,000 guests from outdoors of London (inside the UK) contributing 49% (£96.22 million).
“Understanding that in our first full 12 months, the operations of ABBA Voyage has had an financial affect in London of £322 million is extraordinary, and our problem will likely be to take care of and develop this quantity, and to make sure that its results are lengthy lasting.”
Michael Bolingbroke, ABBA Voyage
Michael Bolingbroke, Chief Government Officer / Government Producer for ABBA Voyage, stated: “The presence of ABBA Voyage is felt in a approach that will likely be enduring.
“Understanding that in our first full 12 months, the operations of ABBA Voyage has had an financial affect in London of £322 million is extraordinary, and our problem will likely be to take care of and develop this quantity, and to make sure that its results are lengthy lasting.”
“It was crucial to us as Producers, and to ABBA, that ABBA Voyage would depart a constructive affect on our area people in Stratford and the findings of this report have solely surpassed what we may have hoped for.”
Svana Gisla and Ludvig Andersson, ABBA Voyage
Svana Gisla and Ludvig Andersson, Producers for ABBA Voyage, added: “It was crucial to us as Producers, and to ABBA, that ABBA Voyage would depart a constructive affect on our area people in Stratford and the findings of this report have solely surpassed what we may have hoped for.
“We’re proud residents of East London and to have the ability to make use of domestically, and improve the native economic system is as joyful to us because the live performance itself.
“We totally intend to proceed to evolve our schooling scheme to supply entry and alternatives to younger folks in our space, and hopefully encourage them to decide on the inventive sector for his or her future employment.”
“The implausible success of ABBA Voyage exhibits as soon as once more how London is the music capital of the world and is roaring again from the affect of the pandemic.”
Sadiq Khan, The Mayor of London
The Mayor of London, Sadiq Khan, stated: “The implausible success of ABBA Voyage exhibits as soon as once more how London is the music capital of the world and is roaring again from the affect of the pandemic.
“I’m so proud that Metropolis Corridor was in a position to assist ABBA convey this pioneering present to east London, offering large advantages to each the native space and London’s wider economic system.
“It’s a highly effective instance of how tradition has a constructive affect on our metropolis, supporting jobs and a variety of different industries.
“The present’s success is testomony to the group’s enduring attraction and I hope it should proceed to thrill audiences and assist enrich the native economic system for years to return, as we construct a greater London for everybody.”
“ABBA Voyage has been an incredible success for the world and a vibrant addition to the points of interest on Queen Elizabeth Olympic Park.”
Lyn Garner, London Legacy Growth Company
Lyn Garner, Chief Government of the London Legacy Growth Company, stated: “ABBA Voyage has been an incredible success for the world and a vibrant addition to the points of interest on Queen Elizabeth Olympic Park.
“This modern use of our improvement land has resulted in certainly one of London’s finest and hottest customer points of interest with a large affect on the native economic system and jobs.
“There was nice work on schooling and expertise for native kids whereas the massive footfall and improved lighting have helped to enhance neighborhood security, too.”
KISS just lately partnered with Pophouse Leisure Group on their very own avatar present.
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