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BusinessQuiet 6d · day 6

Unit1 Studio raises £20M to scale avatar concert technology

UK startup claims to have solved the cost problem limiting avatar concerts to rare, expensive productions like ABBA Voyage.

newest coverage 5d agosummary written 5d ago5 pieces Newswires

What to know

  • Unit1 Studio claims to have solved the cost barrier that has kept avatar concerts rare and expensive—ABBA Voyage's £140 million production cost discouraged competitors from adopting the format.
  • The startup says it can now develop and relocate avatar concert productions at a fraction of ABBA Voyage's cost, enabling the same show to operate in multiple venues without extensive redevelopment.
  • Unit1 is led by Barney Wragg (formerly of Universal Music and Andrew Lloyd Webber's Really Useful Group), with creative director Jonathan Butterell (West End/film) and technical director Pavle Mihajlovic (video game companies).
  • No artists beyond the KT Tunstall demonstration have been publicly announced; the company will reveal partners only when tickets go on sale.

“ABBA Voyage proved audiences love avatar concerts but the development and relocation costs have meant the opportunity of avatar concerts is not being realised.”

Barney Wragg, Founder and CEO of Unit1 Studio · Tech.eu ↗ · Sep 20

Barney Wragg Founder and CEO of Unit1 StudioBalderton Capital Lead investorJonathan Butterell Creative director of Unit1 StudioPavle Mihajlovic Technical director of Unit1 StudioPaul McGuinness Investor and U2 manager

Unit1 Studio raises £20M to scale avatar concert technology
techfundingnews.com

How it unfolded 1 development · click the chart to see its coverage articles

Peak 5 pieces in two hours at Sep 20, 8 PM; 5 pieces over 6 days (5 articles) Sep 20, 8 PM — 5 pieces · 5 articles — Newswires 5Sep 20, 10 PM — quietSep 21, 12 AM — quietSep 21, 2 AM — quietSep 21, 4 AM — quietSep 21, 6 AM — quietSep 21, 8 AM — quietSep 21, 10 AM — quietSep 21, 12 PM — quietSep 21, 2 PM — quietSep 21, 4 PM — quietSep 21, 6 PM — quietSep 21, 8 PM — quietSep 21, 10 PM — quietSep 22, 12 AM — quietSep 22, 2 AM — quietSep 22, 4 AM — quietSep 22, 6 AM — quietSep 22, 8 AM — quietSep 22, 10 AM — quietSep 22, 12 PM — quietSep 22, 2 PM — quietSep 22, 4 PM — quietSep 22, 6 PM — quietSep 22, 8 PM — quietSep 22, 10 PM — quietSep 23, 12 AM — quietSep 23, 2 AM — quietSep 23, 4 AM — quietSep 23, 6 AM — quietSep 23, 8 AM — quietSep 23, 10 AM — quietSep 23, 12 PM — quietSep 23, 2 PM — quietSep 23, 4 PM — quietSep 23, 6 PM — quietSep 23, 8 PM — quietSep 23, 10 PM — quietSep 24, 12 AM — quietSep 24, 2 AM — quietSep 24, 4 AM — quietSep 24, 6 AM — quietSep 24, 8 AM — quietSep 24, 10 AM — quietSep 24, 12 PM — quietSep 24, 2 PM — quietSep 24, 4 PM — quietSep 24, 6 PM — quietSep 24, 8 PM — quietSep 24, 10 PM — quietYesterday, 12 AM — quietYesterday, 2 AM — quietYesterday, 4 AM — quietYesterday, 6 AM — quietYesterday, 8 AM — quietYesterday, 10 AM — quietYesterday, 12 PM — quietYesterday, 2 PM — quietYesterday, 4 PM — quietYesterday, 6 PM — quietYesterday, 8 PM — quietYesterday, 10 PM — quietToday, 12 AM — quietToday, 2 AM — quietToday, 4 AM — quietToday, 6 AM — quietToday, 8 AM — quietToday, 10 AM — quietToday, 12 PM — quietToday, 2 PM — quiet 1
Sep 21Sep 22Sep 23Sep 24yesterdaynow · 3:15 PM ET
  1. 1

    Unit1 Studio raises £20M in funding led by Balderton Capital

    Unit1 secures £20 million in an oversubscribed equity round led by Balderton Capital, with participation from existing backers Mercuri, Gilston Music, and U2 manager Paul McGuinness. Funding includes production financing for shows in development.

    “Unit1 is, and will always be, about expanding the connection between fan and artist regardless of time or geography.”
    — Barney Wragg
    1. 3 outlets Unit1 Studio raises $20m for its now-moveable avatar-concerts tech

      first by Music Ally, 5d ago · also FinSMEs, Tech Funding News

      3 more headlines
  2. background

    Avatar show transferred to permanent London studio in four days — Unit1 demonstrates the speed and adaptability of its technology by moving the KT Tunstall production to a permanent studio at Tileyard in London in four days, with CGI fully modified to match the new venue's lighting and acoustics.

  3. background

    Unit1 Studio founded by Barney Wragg — Barney Wragg, former head of Andrew Lloyd Webber's Really Useful Group, launches Unit1 Studio with creative director Jonathan Butterell and technical director Pavle Mihajlovic.

  4. background

    KT Tunstall avatar demonstration runs at Brompton Technology site — Unit1 launches a demonstration production featuring a digital version of KT Tunstall at Brompton Technology's testing site in Gunnersbury, showcasing its avatar concert capability.