Six months after purchasing the song rights of Swedish House Mafia, Björn Ulvaeus’ Pophouse Entertainment has acquired a major 75% stake in the late DJs publishing and recording catalogue.
The company has encompassed 75% of Avicii’s body of work, while his estate has retained the remaining 25%. The transactions precise financials have not been disclosed publicly.
According to Avicii’s estate’s formal release, Avicii’s parent’s intend to use a portion of the catalogues sales to fund the Tim Bergling Foundation, which they founded following his death in 2018.
Addressing the agreement, Avicii’s father said in a statement:
“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 an opportunity to act decisively on the Foundation’s commitments to supporting such important issues as mental health and the well-being of young people.”
The sale of catalogues from heritage acts is becoming a trend, with rapper future selling his catalogue to Influence Media Partners earlier in September and Pink Floyd being in long discussions to cash in their own catalogue.
