ABBA's virtual concert gives a $225 million boost to London economy

LONDON: Thank you for the music, London's authorities might say, after Swedish pop group ABBA's digital concert residency raked in 178 million pounds ($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 70s heyday, thanks to motion-capture technology.

The show, which has been seen by over 1 million people, generated a turnover of 322.6 million pounds in the 12 months since it opened in May 2022, according to an analysis by Sound Diplomacy and RealWorth published on Thursday.

Fans are willing to fork out ever-increasing amounts for concert tickets to see Taylor Swift and Beyonce 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 concerts by Swift.

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. The lighting and special effects create the illusion of the Swedish pop superstars on stage in a purpose-built arena in London. ABBA, whose members are now in their 70s, worked with firm founded by "Star Wars" creator George Lucas, for the project.