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FINANCIAL UPDATE

Royalty Distribution ID006 – 30 July 2021

ANote Music has received €3,668.55 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 Benvenuto Publishing Catalogue (ID006).

The auction for the Benvenuto Publishing Catalogue was completed on October 31st, 2020. As a result, ANote Music investors are receiving €3.668,55 pro-forma to the percentage owned into the 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. 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 Benvenuto Edizioni) during the next distribution phase (expected for January 2022).

 

Stay tuned!

ANote Music