In June, we reported on startup ANote Music’s plans to launch a music royalties investment platform where labels, artists, publishers and songwriters would be able to sell portions of their catalogues to investors.
That launch is this morning, with a number of European artists and labels on board. ANote Music says it’s launching with listed assets valued at €357k.
Italian label Irma Records is to the fore: it has raised pre-orders of €140k for some of its assets. Others using the platform include Italian publisher Benvenuto Edizioni Musicali, and Polish artists Tomasz Lubert and Piotr Konca.
The rights will be sold using an auction system, with investors also able to trade their shares on ANote Music’s official secondary market. The company will handle managing the distribution of music royalties to the people and companies who’ve invested in them.