Royalty payout ID003 – 27 July 2021
ANote Music has received €8,047.32 from SIAE (the Italian National Collective Organisation), the funds as royalties payout for the reference period of July 2020-December 2020 (H2 2020) for the IRMA Records Publishing Catalogue (ID003).
The auction for the IRMA Records Publishing Catalogue was completed on August 31st, 2020. Considering the received royalties in February 2021 (€1,732.45) from foreign sub-publishers, the total amount of royalties received by investors on the platform for H2 2020 stands at €9,779.77, pro-forma for the whole catalogue.
As was the case for previous distribution periods, lockdown restrictions took a considerable toll on the industry, with the publishing business confirming an under-performance compared to pre-COVID levels, in excess of 30% across Italy and Southern Europe. Despite the temporary slow-down, IRMA Records continued to perform better than other comparable industry players, with decreases from concerts, ballrooms and cinema compensated thanks to a notable outperformance in online consumption and broadcast.
Additionally, in response to the general market slowdown due to the impact of COVID-19 on live performances and general life, SIAE is expected to distribute some of its reserves pro-quota to its members (among which IRMA Records) during the next distribution phase (expected for January 2022).
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