THE Mamma Mia! movies set the box office on fire and now fans of the films are being given the chance to live like they are in the movies at a Mamma Mia! party in an “immersive theatrical performance” that marks the latest commercial venture that will add to the band’s already hefty coffers.

A party?

It’s called “Mamma Mia! The Party” and it launches this week at The O2 in London where a giant three-storey former nightclub inside the arena has been transformed into the Greek paradise island taverna from the movie.

What’s it all about?

It’s a four hour extravaganza that sees fans live as though they are in the film themselves over a four-hour period. As they indulge in a four-course Mediterranean feast, a comedic love story, written by Sandi Toksvig – co-host of The Great British Bake Off – plays out to the music of 20 of Abba's most famous hits, ranging from Knowing Me, Knowing You, to Dancing Queen.

Money, money, money! The tickets are how much?

Perhaps ardent fans won't mind, but eyebrows have been raised at the cost, with tickets starting at around £150, with some selling for £218. Many of the dates are already sold out, despite the price tag. The ticket covers a four-course meal, three-act show and then the chance to dance the night away in the taverna.

It's not the first Abba party?

It’s the second venture of its kind, the first being in Stockholm, in the band’s homeland, Sweden.

And it’s the brainchild of Bjorn Ulvaeus?

Bjorn – who was once wed to Agnetha Faltskog in the group – is the face of Abba today. Now 74, he believes the show offers escapism from the crazy world we are currently living in.

"It's the ideal place to spend time and forget about the world outside, which we need right now," he said.

He was keen for it to set up in London?

In its fourth year in Stockholm, Bjorn said his "aim was always to do it in the UK", adding: "Somehow in this business, you're never quite seen unless you're doing it in London or New York."

So the show is booking through to February 2020.

It's all off the back of the success of the films?

The first movie, in 2008, starring Meryl Streep, Amanda Seyfried, Pierce Brosnan and Colin Firth, made $616 million, while the follow up last year made around $400 million, with both based on the 1999 stage musical, and the movies are credited with introducing Abba to new generations.

And, of course, the success of Abba?

Between 1974 and 1980 Abba sold over 400 million albums and achieved nine UK number one hits.

So will they ever reunite?

They always said no, but last year it was revealed they have recorded two new songs that will launch a new tour using avatars, aptly called the "Abbatars". Expected to take place sometime next year, it will see them appear as they did in their first tour back in 1979.