Pophouse Leisure Acquires Majority Stake In Avicii's Catalog
Swedish firm Pophouse Leisure has bought a majority stake in Avicii’s grasp recording and publishing rights.
The property of Avicii’s catalog had been beforehand held by his household property, although they nonetheless reportedly personal 25% of the general share. The partnership successfully ensures the long-lasting dance music producer’s household will proceed to have a say in how Avicii’s music is promoted and utilized going ahead.
Avicii is survived by his mother and father, Klas Bergling and Anki Lidén. The previous stated the transaction ensures that the Tim Bergling Foundation stays totally funded for the foreseeable future.
“Via this deal, we’re additionally securing the Tim Bergling Basis’s long-term funds, creating alternative to behave decisively on the muse’s commitments to supporting such necessary points as psychological well being and well-being of younger individuals,” Bergling stated in an announcement.
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Bergling moreover famous it is his perception that the deal will assist deliver his son’s music to his fanbase on a world scale.
Based by ABBA’s Björn Ulvaeus, Pophouse’s business experience was exactly what attracted fellow digital music icons Swedish Home Mafia to promote partial possession of their discography simply six months in the past.
“It feels nice for us to associate up with an organization like Pophouse that can do way more than merely purchase our inventive work,” the trio stated in an announcement on the time.
The monetary phrases of the Avicii acquisition haven’t been disclosed on the time of writing.