Pophouse, the music investment company co-founded by ABBA's Björn Ulvaeus, has purchased half of Sia's song catalog, according to reports from Dagens Nyheter and other Swedish outlets. The deal is valued at 180 million dollars, hurbra.se reports.
The acquisition covers 50 percent of the Australian singer-songwriter's catalog, Bulletin reports. Sia, known for hits including "Chandelier" and "Cheap Thrills," is the latest artist to sell a stake in her body of work.
Swedish coverage of the deal was led by Dagens Nyheter, with Aftonbladet and Expressen also reporting the purchase. Expressen described it as a billion-kronor deal.
The transaction adds to a growing trend of catalog sales in the music industry, in which investors acquire rights to artists' past work. Pophouse, which Ulvaeus helped establish, has built a portfolio around music rights and related ventures.
The reports did not include further terms of the agreement or a statement from Sia or Pophouse. Details such as which specific songs fall under the deal were not disclosed in the available coverage.
It remains to be seen whether Pophouse will announce additional catalog acquisitions or how it plans to use the Sia rights.
