The Abba Voyage experience in London has achieved remarkable financial success, reporting a substantial profit increase.
Over the past 12 months, the attraction’s profits have doubled, showcasing its growing popularity and commercial viability.
The company behind the Abba Voyage experience in London has witnessed a more than doubling of its pre-tax profits, achieving over £6 million, a significant rise from the previous year’s £3 million. This robust performance is attributed to increased turnover, which has surpassed the £100 million mark in 2023, reaching £103.6 million.
The latest financial statements, filed with Companies House, reveal a dramatic surge in show sales, jumping from £58.8 million to £101.5 million within a year. However, there was a notable decline in earnings from film rights sales, plummeting from £15.3 million to £1.1 million. Stage rights sales also experienced a drop, decreasing from £22.8 million to approximately £900,000.
An increase in the average number of employees was recorded, with the workforce growing from 64 to 113 over the year, reflecting the operational demands of the expanding business. This period also saw an increase in the number of performances, with the company staging 374 shows in 2023, up from 228 in the previous year.
Visitor numbers to the Abba Voyage shows have risen notably. The attraction drew over one million visitors, a rise from 675,600 attendees in the preceding year, solidifying its status as a leading entertainment destination in London.
The board has stated that their long-term strategy is centred around maintaining the show’s operations in London for as long as it remains commercially viable.
They anticipate continued high levels of activity throughout 2024, driven by substantial market demand for the show.
Abba Voyage performances are distinct for their use of digital avatars, representing the band as they appeared in 1979. These concerts are hosted at Abba Arena, a purpose-built venue located at the Queen Elizabeth Olympic Park.
Oxford Metrics, the technology company responsible for enabling these performances, reported a revenue increase of 10.5 per cent for the first half of 2024, totalling £23.5 million. Despite this, their pre-tax profit decreased by 17 per cent to £2.8 million, in comparison to the same period in the previous year.
The directors have highlighted the substantial market demand for Abba Voyage, which continues to drive ticket sales and visitor numbers.
The board’s optimism about the future is grounded in the show’s proven success and its ability to attract large audiences, ensuring its ongoing viability.
The Abba Arena, specifically constructed for these performances, plays a critical role in delivering a unique and immersive audience experience.
Located in the Queen Elizabeth Olympic Park, the arena enhances the attraction’s appeal due to its strategic location and purpose-built design.
The financial triumph of Abba Voyage underscores its significant impact on the entertainment market, reflected in doubled profits and increased visitor numbers.
With a strategic focus on sustaining high activity levels and leveraging technological innovations, the future prospects of Abba Voyage appear very promising.
