Italian Label Irma Records becomes the first catalogue listed on the platform, with €200,000 in shares available during the pre-order period.
by: Charles-Louis Machuron
featured: Malte Wingen on Unsplash
ANote Music, the European marketplace for investing in music royalties, announces today that it will officially launch on 28th July, 2020. ANote Music will allow users to invest in music, own rights from content creators, and earn returns through the royalties that are generated over time.
“The launch of the ANote Music investment platform this summer will allow us to bridge the gap between the music industry and capital markets,” says Marzio Schena, CEO and Co-Founder at ANote Music. Our goal is to unlock the hidden value in music for both investors and artists by creating a stock-exchange platform for music investments. We are excited to be the pioneer of alternative investments, while revolutionizing traditional systems within the music industry.”
The first important step was the ‘aha-moment’ that Marzio and Matteo (CEO and COO respectively) had while watching the music festival of Sanremo (Italy) and the first concept of what ANote Music would become got laid out. Shortly after that, while being in Luxembourg they got to know their third co-founder Grégoire (CTO), and became a strong team.
Together, they’ve worked out a complete concept and starting building the MVP in order to raise funds in order to fully develop the project.
In January 2020, ANote Music closed a €500,000-plus funding round, led by the European music industry’s foremost players (see our article “ANote Music raises €505K in first funding round“). ANote Music is also supported by Luxinnovation, Luxembourg’s national innovation agency, providing access to government funding for the startup.
With the confirmation of ANote Music’s first fundraising round, the 3 founders could start hiring the team (now 7 full time employees) and develop a product that is ready to go to market.
While finalising the ANote Music Platform, they had some great milestone moments when they won some startup competitions in which they participated (see our article “ANote Music Wins BIME PRO Startup Competition“. Also receiving the support and co-funding from the Luxembourgish government, has also been a great endorsement for the team and project. Last but not least, has been the Trading Cup that has given us incredible positive market feedback, which has given them confirmation to be ready for the official launch on July 28.
ANote Music, built using blockchain technology, provides a secure and transparent platform for artists, record labels, publishers, and songwriters to become financially independent, offering immediate access to funding through the sale of music rights. Simultaneously, ANote Music offers investors and music fans the opportunity to own music rights of their favourite artists’ catalogues and profit through music royalties.
Before the official launch on July 28th, ANote Music is offering users the chance to invest in a pre-order offer for Irma Records, one of the most prominent record labels in the Italian market, up to the value of €200,000. During this pre order auction period, early adopters of ANote Music will be entitled to 5% discount on the catalogue shares. In addition, pre-order users will not have to pay any distribution fees for the royalties generated from these shares for the first two years.
“We are delighted to be part of this new era for the music industry, where ANote Music provides flexibility, liquidity, and security,” says Massimo Benini, CEO of Irma Records. By being featured on this platform as an artist or creator, there is an opportunity to generate extra visibility and build up a profound reputation within a large network of music fans and investors. We look forward to building on this pre-order offer and continuing our relationship.”
ANote Music offers the rights from artist catalogues to investors through an auction system. Upon successful bidding, investors receive the shares of rights and can then trade with others on ANote Music at prices determined by supply and demand. On behalf of investors, ANote Music manages royalties and ensures that investors receive royalty (cash) flows generated by the underlying asset. ANote Music’s catalogue selection consists of artists with a minimum of three years earnings, guaranteeing a worthwhile, secure, and reliable investment for users.
“As music listening habits have a low correlation to financial markets, music royalties generate ever-increasing revenue prospects and act as a very promising diversified alternative asset class, which is largely immune from external shocks. Our mission is to make this music investment opportunity available to everyone. We are thrilled to have Irma Records, a key player in both the Italian and global music industry, on board and playing such an integral role in the platform launch. Together, we are excited to embark on this journey and be at the forefront of innovation in the music industry,” Schena concludes.