ABBA’s successful avatar show in London offers a glimpse at a daring new direction for live music
LONDON — Before the launch of “ABBA Voyage,” the London concert performed by 3D digital avatars of the iconic Swedish band, member Björn Ulvaeus said they hoped audiences would “feel that they’ve gone through something that they’ve never seen before.”
Following its May 27 debut, much of the reaction from domestic and international critics, fans and industry professionals has been rapturous.
“Other than the team involved, no one really knew how they would integrate an avatar-based performance,” Sarah Cox, director of live event technical consultancy Neutral Human, told CNBC. “That blew me away as someone working on real-time graphics. My jaw hit the floor. You look around and people are really buying into the idea that ABBA are there.”
Demand has been strong — the show’s run has been extended to November 2023 and could well go beyond that.
And the team has confirmed it aims to take the show around the world.
“Our ambition is to do another ABBA Voyage, let’s say in North America, Australasia, we could do another one in Europe. We can duplicate the arena and the show,” producer Svana Gisla told a U.K. government committee session in November.
It also expects other shows to begin following the same model.
“The tech itself isn’t new but the way in which we’ve used it and scale and barriers we’ve broken down are new. I’m sure others will follow and are planning to follow,” Gisla said.
That could “absolutely” be the case somewhere like Las Vegas, where some shows run round the clock with rotating crews, she added.
“We have live musicians, so we keep our band and do seven shows over five days a week. But you could roll round the clock. Vegas will quickly adopt this style of entertainment and do Elvis or the Beatles.”
Money, money, money
Voyage’s venue, dubbed the ABBA Arena, was built specifically for the show on a site in Stratford in east London, with its 3,000 capacity comprising a standing pit, tiered seats along three sides with no restricted view, and higher-priced private “dance booths,“ as well as space for the extensive kit positioned in the roof and what creators White Void say is the largest permanent kinetic lighting installation in the world.
View of the ABBA Arena on May 26, 2022 in London, England.
Dave J Hogan | Getty Images Entertainment | Getty Images
It was also designed for flexibility. It was constructed on a one meter raised platform without breaking ground, and could be disassembled and reconstructed elsewhere — or stay in place and host another show in future.
But emulating Voyage’s model — which sees digital replicas of the four band members perform classic hits and newer numbers for 90 minutes, while also interacting with each other and speaking to the audience between songs — will be no easy task.
The show was in the works for five years and had a £141 million ($174.9 million) budget funded by global investors. It needs to get around 3 million people through its doors to break even, according to Gisla, and the average ticket price is £75.
After choosing their set list and making other creative decisions, the ABBA members did five weeks of performance in motion capture suits. Hundreds of visual effects artists then worked on the show for two years, led by the London branch of Industrial Light & Magic, a visual effects company founded by George Lucas.
Promotional image for ABBA Voyage, the digital avatar-based live show currently running in London.
Johan Persson | ABBA Voyage
A decade ago, a Coachella performance featuring an apparent hologram of Tupac Shakur impressed audiences and hinted at alternative reality’s potential in live shows, with the artist’s likeness digitally recreated without using archive footage.
While not meeting the technical definition of a hologram, which uses laser beams to construct an object with depth, the visual effects team projected a 2D image onto an angled piece of glass, which was itself projected onto a Mylar screen, creating a 3D effect. Shakur then “performed” two songs with Dr. Dre and Snoop Dogg, 16 years after his death.
The Voyage team is tight-lipped about exactly how their show works, but previously confirmed it is not a laser-based hologram either. It involves 65-million pixel screens which give the impression of the band performing life-size on stage in 3D in real time, with traditional-style concert screens showing close-ups and different views on either side.
Its servers are being pushed to the “absolute extreme” to render the images without lag, Gisla said, such that they are shaking through some transitions. She also acknowledged that the 10-meter high side screens are “very unforgiving” on detail and there are improvements that could be made.
Rapper Snoop Dogg (L) and a “hologram” of deceased rapper Tupac Shakur perform on stage on the third day of the 2012 Coachella Valley Music & Arts Festival.
Christopher Polk | Getty Images Entertainment | Getty Images
But, she added, with real-time render speeds becoming quicker, “Benny and Bjorn could be sitting in a chair at home connected to their avatar, updating them to talk about last night’s football result to the audience. That will come.”
Next steps
Consultant Sarah Cox said the kind of processing and motion capture technology used by Voyage is still prohibitively expensive for most productions, but believes it is a “brand-new format that will be replicated time and time again,” particularly somewhere like Las Vegas.
“An immersive venue could host multiple shows. And then the cost comes down, because you have the technology stack, the venue, and all the money goes into creating the avatar and virtual experience and tweaking the programing.”
Many will remain skeptical of digital avatar-based gigs, particularly if they are wary of the general trend toward metaverse-based virtual experiences.
Bjorn Ulvaeus himself previously told CNBC he has concerns about the misuse of the technology to create nefarious “deep fakes” which will be “indistinguishable from the real thing going forward.”
There is also the question of finding suitable artists for shows. ABBA is a rare proposition as a band with a large catalogue of hits, a multi-generational worldwide fanbase, and a full set of members who are on-board with the show — but who have not toured together for 40 years.
ABBA avatars perform their 1981 song The Visitors in London, 2022.
Johan Persson | ABBA Voyage
“Posthumously you can put artists back on stage, ethically you may or may not have a view on that,” said Gisla. “Having ABBA partake in this is I can say this is an ABBA concert. ABBA made the decisions, chose what to wear, chose their set list, ABBA made this show.”
For an artist like Elvis with an extensive visual and audio archive you could create an accurate replica, but without the input that makes this show feel so tangible, she said.
For Cox, live shows that provide a “shared experience” like ABBA Voyage hold a greater appeal than headset-based virtual experiences, though there will certainly be more of those available in future.
And both AR and VR are spreading in the worlds of gaming, events, sports, theater and beyond.
Digital avatar experiments have included musician Travis Scott premiering a song within the wildly popular game Fortnite in 2020, with his avatar looming over players who were still moving around within the world of the game. It got a reported 45.8 million viewers across five shows. Lil Nas X performed the same year in the game Roblox.
A 15 year-old plays Fortnite and Travis Scott Present: Astronomical on April 23, 2020, in Los Angeles, United States.
Frazer Harrison | Getty Images Entertainment | Getty Images
Jo Twist, chief executive of trade body UK Interactive Entertainment, said she was noticing growing opportunities in the intersections between games, music and entertainment experiences.
“While these kind of experiences have mostly been the preserve of the biggest artists so far, we believe that growth in both the number of people who play, and online game worlds that enable user generated content, could open games up to all kinds of performers, allowing them to successfully tap into its enormous player base to raise their profile.” she said.
Giulia De Paoli, founder and general manager of show design and AR studio Ombra, has worked on projects bringing “extended reality” — spanning AR and VR — to live sports.
“AR has permitted us to create a full show for broadcast events that would be impossible with traditional projection and LED setups, like creating huge 10-meter flying numbers and flames around the arena,” she said.
“We see this developing into a full experience for people to watch live and, as the word says, augmenting the reality around us, gamifying, interacting and seeing impossible things happen.”
Rafael Henrique | SOPA Images | AP
After posting almost 200 videos, amassing hundreds of thousands of followers and racking up millions of views, Carla Lalli Music is quitting YouTube. Substack is her new focus.
Music is a cookbook author and food content creator, and she is shifting her focus to Substack, a subscription platform that lets creators charge users subscriptions for access to their content. Music told CNBC she came to that decision after earning more in one year of using Substack, nearly $200,000 in revenue, than she did by posting videos on YouTube since 2021.
Music is the exact kind of content creator that Substack is trying to lure to its platform as TikTok’s future in the U.S. remains in limbo.
San Francisco-based Substack launched in 2017 as a tool for newsletter writers to charge readers a monthly fee to read their content. The platform allows creators to connect to their followers directly without having to navigate algorithmic models that control when their content is shown, as is the case on TikTok, Google’s YouTube and other social platforms. Substack has raised about $100 million, most recently at a post-money valuation of more than $650 million, the company told CNBC.
This year, Substack has broadened its focus beyond newsletters, and on Thursday, it announced that creators can now post video content directly through the Substack app and monetize these videos.
“There’s going to be a world of people who are much more focused on videos,” Substack Co-founder Hamish McKenzie told CNBC. “That is a huge world that Substack is only starting to penetrate.”
Substack began this push after the social media landscape was thrown into flux as a result of the effective ban of TikTok in January that caused the popular Chinese-owned service to go offline for a few hours. TikTok was also removed from Apple and Google’s app stores for nearly a month.
The disruption to TikTok in January happened as a result of a law signed by former President Joe Biden to force a sale of the Chinese-owned app or have it effectively banned in the U.S. On his first day in office, President Donald Trump signed an executive order extending TikTok’s ability to operate in the U.S., but that order expires on April 5.
Days after TikTok went offline, Substack launched a $20 million fund to court creators to its platform.
“If TikTok gets banned for political reasons, there’s nothing to do with the work you’ve done, but it really affects your life,” McKenzie said. “The only and surefire guard against that is if you don’t place your audience in the hands of some other volatile system who doesn’t care about what happens to your livelihood.”
Moving beyond newsletters
McKenzie says that they are going after creators on competing social media platforms to start sharing their video content on Substack.
“Video-first creators, people who are mobile oriented, there’s a whole lot of new possibility waiting to be unlocked once they meet this model in the right place,” McKenzie said.
Already, Substack has more than 4 million paid subscriptions with over 50,000 creators who make money on the platform, the company said. Substack says that 82% of its top 250 revenue-generating creators have already integrated audio or video into their content, reflecting a growing emphasis on multimedia content.
Prior to the video announcements, Substack allowed creators to post videos on the app to Notes, which is the platform’s front-facing feed format. But the feature did not allow creators to publish video content behind Substack’s paywalls.
The update enables creators to put video content behind a paywall and it provides data on estimated revenue impact. It also allows them to track viewership and new subscribers.
Carla Lalli Music is a cookbook writer and food creator.
Carla Lalli Music
The push by Substack into video is a welcomed development for creators like Music, who was losing money from making videos for YouTube.
Music said each video costs her $3,500 to produce despite filming at home. If she published four videos a month on YouTube, she’d earn about $4,000 in revenue. Music was losing about $10,000 a month, she said.
“It’s really depressing to operate at a loss,” said Music.
Even with brand deals, which is an agreement where brands pay creators to post content that promotes their products, the earnings were barely enough to recoup the costs of posting on YouTube, Music said.
More than half of the $290 billion creator economy comes from direct-to-fan value. That includes ticket sales, courses, livestreams and paid memberships, according to a survey conducted by Patreon, a Substack competitor.
With her shift to Substack, Music said she’s now focused on writing another book, posting recipes behind the platform’s paywall and sprinkling in occasional videos.
“I have a lot more to benefit from focused attention on a smaller group of people than I ever did on throwing stuff and seeing what was going to stick with billions of potential audience members,” Music said. “It’s more sustainable.”
WATCH: Our base case for TikTok is that it gets banned in the U.S.: Lead Edge Capital’s Mitchell Green
Anne Wojcicki attends the WSJ Magazine Style & Tech Dinner in Atherton, California, on March 15, 2023.
Kelly Sullivan | Getty Images Entertainment | Getty Images
23andMe CEO Anne Wojcicki and New Mountain Capital have submitted a proposal to take the embattled genetic testing company private, according to a Friday filing with the U.S. Securities and Exchange Commission.
Wojcicki and New Mountain have offered to acquire all of 23andMe’s outstanding shares in cash for $2.53 per share, or an equity value of approximately $74.7 million. The company’s stock closed at $2.42 on Friday with a market cap of about $65 million.
The offer comes after a turbulent year for 23andMe, with the stock losing more than 80% of its value in 2024. In January, the company announced plans to explore strategic alternatives, which could include a sale of the company or its assets, a restructuring or a business combination.
23andMe has a special committee of independent directors in place to evaluate potential paths forward. The company appointed three new independent directors to its board in October after all seven of its previous directors abruptly resigned the prior month. The special committee has to approve Wojcicki and New Mountain’s proposal.
“We believe that our Proposal provides compelling value and immediate liquidity to the Company’s public stockholders,” Wojcicki and Matthew Holt, managing director and president of private equity at New Mountain, wrote in a letter to the special committee on Thursday.
Wojcicki previously submitted a proposal to take the company private for 40 cents per share in July, but it was rejected by the special committee, in part because the members said it lacked committed financing and did not provide a premium to the closing price at the time.
Wojcicki and New Mountain are willing to provide secured debt financing to fund 23andMe’s operations through the transaction’s closing, the filing said. New Mountain is based in New York and has $55 billion of assets under management, according to its website.
23andMe declined to comment.
WATCH: The rise and fall of 23andMe
Hims & Hers
Shares of Hims & Hers Health tumbled more than 23% on Friday after the U.S. Food and Drug Administration announced that the shortage of semaglutide injection products has been resolved.
Semaglutide is the active ingredient in Novo Nordisk‘s blockbuster weight loss drug Wegovy and diabetes treatment Ozempic. Those medications are part of a class of drugs called GLP-1s, and demand for the treatments has exploded in recent years. As a result, digital health companies such as Hims & Hers have been prescribing compounded semaglutide as an alternative for patients who are navigating volatile supply hurdles and insurance obstacles.
Compounded drugs are custom-made alternatives to brand-name drugs designed to meet a specific patient’s needs, and compounders are allowed to produce them when brand-name treatments are in shortage. The FDA doesn’t review the safety and efficacy of compounded products.
Hims & Hers began offering compounded semaglutide to patients in May, and it owns compounding pharmacies that produce the medications.
Compounded medications are typically much cheaper than their branded counterparts. Hims & Hers sells compounded semaglutide for less than $200 per month, while Ozempic and Wegovy both cost around $1,000 per month without insurance.
The FDA said Friday that it will start taking action against compounders for violations in the next 60 to 90 days, depending on the type of facility, in order to “avoid unnecessary disruption to patient treatment.”
“Now that the FDA has determined the drug shortage for semaglutide has been resolved, we will continue to offer access to personalized treatments as allowed by law to meet patient needs,” Hims & Hers CEO Andrew Dudum posted Friday on X. “We’re also closely monitoring potential future shortages, as Novo Nordisk stated two weeks ago that it would continue to have ‘capacity limitations’ and ‘expected continued periodic supply constraints and related drug shortage notifications.'”
Him & Hers’ weight loss offerings have been a massive hit with investors. Shares of the company climbed more than 200% last year, and the stock is already up more than 100% this year despite Friday’s move.
Even before it added compounded GLP-1s to its portfolio, the company said in its 2023 fourth-quarter earnings call that it expects its weight loss program to bring in more than $100 million in revenue by the end of 2025.
Despite the turbulent regulatory landscape, Hims & Hers has showed no signs of slowing down.
On Friday, the company announced it has acquired a U.S.-based peptide facility that will “further verticalize the company’s long-term ability to deliver personalized medications.” Hims & Hers will explore advances across metabolic optimization, recovery science, biological resistances, cognitive performance and preventative health through the acquisition, the company said.
That move comes just days after Hims & Hers also bought Trybe Labs, the New Jersey-based at-home lab testing facility. Trybe Labs will allow Hims & Hers to perform at-home blood draws and more comprehensive pretreatment testing.
Hims & Hers did not disclose the terms of either deal.
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