London’s Unit1 Raises £20M to Take Avatar Concerts on Tour
Unit1 Studio has raised £20 million to stage concerts performed by digital recreations of musicians, in an oversubscribed round led by Balderton Capital. The company, founded in February 2025 and based in Tileyard, north London, promises portable shows that can travel to venues with fewer than 800 seats.
A Different Approach to Hologram Concerts
Unlike ABBA Voyage's purpose-built arena, Unit1 says its performances feature synthesized 3D models of musicians, combined with visual effects and AI-assisted CGI on large LED screens. The company emphasizes that "nothing is 'real'" in their approach.
Economics and Business Model
Unit1 points out the economic advantage over ABBA Voyage's massive investment in a custom-built arena. Their shows are more flexible, suitable for smaller venues, and can run simultaneously in multiple locations. They've demonstrated this by moving a full show from one venue to another in just four days.
The business model is based on theatre rather than traditional touring. Each show is funded as its own production, aiming to break even at about 70% capacity in the first year. Artists and catalog owners receive higher royalties compared to selling their rights outright.
Key Team Members
- Barney Wragg: Chief Executive, formerly led Andrew Lloyd Webber’s Really Useful Group and held senior digital positions at Universal Music, EMI, and AEG.
- Jonathan Butterell: Creative Director, known for directing Everyone’s Talking About Jamie.
- Pavle Mihajlovic: Technical Director, co-founder of video game companies Electric Saint and Flavourworks.
Unanswered Questions
While Unit1 has announced exciting plans, details remain sketchy:
- Specific artists scheduled to perform are yet to be revealed.
- The company hasn't published a consent framework for using the avatars of deceased musicians.
Story by Ana-Maria Stanciuc, Editor-in-Chief at TNW:
I am the Editor in Chief for TNW, covering technology not as a parade of launches and valuations, but as a system of influence, persuasion, and change. I write about startups, venture capital, digital policy, and Europe's ecosystem, with an eye on the larger story beneath them: who gets to build the future, who profits from it, and how Europe is learning to speak in a louder voice of its own. Before moving into senior editorial leadership, I've built my career for over +10 years across journalism, strategy consulting, and digital marketing.