Royalty Update: IRMA Records Publishing Catalogue - Payout #7
Royalty payout ID003 - 28 February 2022
The IRMA Records Publishing Catalogue (ID003) has received €70,656.86 from SIAE (the Italian National Collective Organization) as royalties distribution for the reference period of January 2021 - June 2021 (H1 2021).
On top of the above, in response to the general market slowdown due to the impact of COVID-19 on live performances and general life, SIAE is distributing some of its reserves pro-quota to its members (among which IRMA Records) based on the member’s historical performance. ANote Music embraced the effort of SIAE to stimulate the music industry, and is thus further backing the package towards the investors on the platform during this payout.
In line with the above “Covid Reserves” actions, investors on the platform will receive an additional €2,299.93, bringing the total to €9,365.62. Considering the royalties paid in October 2021 (€22,024.44) from the foreign sub-publishers, the total amount of royalties for H1 2021 stands at €115,681.64, pro-forma for the whole catalogue.
Compared to previous earning periods, in terms of year to year performance, lockdown restrictions took a considerable toll on the industry, with the publishing business down in excess of 40% across Italy and Southern Europe. IRMA Records performed better than other comparable industry players. Although IRMA Records has seen a decrease in revenues from concerts, ballrooms and cinemas, it continues to significantly outperform in online consumption and broadcast.
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