Avatar Concert Promoter Unit1 Studio Raises $20 Million Investment

Unit1 Studio, the concert promoter and technology company that curates avatar-based performances, has secured a $20 million investment to expand its repertoire. While similar performances such as ABBA: Voyage have built new venues to house the technology, Unit1 has hosted its productions in multiple venues, opening the opportunity for touring.

Why it matters:

• With avatar concerts able to be moved, deceased artists such as Jimi Hendrix and John Coltrane could host global avatar tours.

Background:

• Unit1’s flagship production features an avatar of Scottish singer KT Tunstall.

• The show was recently moved between two London venues.

• The studio has said this was “the first ever relocation of an avatar concert.”

Follow the money:

• This funding was led by Balderton Capital, with Mercuri, Gilston Music, and artist manager Paul McGuinness investing as well.

• Unit1 has made new hires in the wake of the funds.

• John Kennedy, Former CEO/Chairman of Universal Music UK and IFPI, has come on as Non-Executive Director.

• Greg Meeres and Sefki Ibrahim will bring their avatar creation expertise from projects such as Planet of the Apes, Lord of the Rings, and ABBA Voyage.

What they said:

• Barney Wragg, Unit1 Studio Founder: “Unit1 is, and will always be, about expanding the connection between fan and artist regardless of time or geography. ABBA Voyage proved audiences love avatar concerts, but the development and relocation costs have meant the opportunity of avatar concerts is not being realised. Our ability to develop these shows at a fraction of the cost and replicate them to any location finally makes these shows a commercial reality.”