STOCKHOLM (CelebrityAccess) – Pophouse, the Swedish entertainment company led by former Universal Music Sweden boss Per Sundin has announced its entrance into the rights acquisition space by fully acquiring the master recordings and publishing catalogs of electronic music stars, Swedish House Mafia. This deal also includes their writer’s shares. Financial details were not disclosed.
The agreement also includes the full acquisition of the masters and publishing of Axwell^Ingrosso. In addition, Pophouse says that it will form what it calls a “first-of-its-kind” joint venture with the group’s members to develop and amplify the Swedish House Mafia brand worldwide.
Alongside today’s acquisition news, Pophouse has also revealed that it’s expanding the company’s sights beyond Sweden, to the US and UK markets, and has hired former Capitol Music Group (CMG) Chairman & CEO Steve Barnett to its Investment Advisory Committee. According to a media statement, Barnett has been “charged with leading the company’s targeted outreach with US and UK-based rights-holders to invest in and jointly build upon the legacies of iconic entertainment brands”. Barnett’s appointment at Pophouse comes just over after he announced his retirement in December 2020, following a 50-year career in the music business, including eight years at the helm of CMG.
Pophouse was formed in 2014 by ABBA member Björn Ulvaeus and EQT Founder and Chair of the EQT Board – Conni Jonsson as a venture when the company created the ABBA Museum in Stockholm.
Swedish House Mafia attract nearly 19 million listeners a month on Spotify, and have accumulated billions of combined streams and views. The group will release their debut studio album, Paradise Again, on April 15 through Republic Records. They recently had a hit with “Sacrifice” on The Weeknd’s new album, Dawn FM. The trio will embark on their Paradise Again World Tour in July.