Over the past months the widespread difficult situation for the music and live sector continued as many festivals and concert venues were forced to temporarily cancel or postpone their scheduled events due to ongoing restrictions. The impact can be felt across the entire music industry with royalty income streams not yet returning to the pre-COVID levels, especially for live performances.
Le Vibrazioni and Artist First scheduled for a series of shows in Italy throughout the summer and saw the biggest part cancelled (only being allowed to perform 6 of the planned shows from July till September). This limited amount of live-performances will be reflected in the upcoming royalty payout for their Image Rights catalogue, as the numbers know an off-set from the expected performances.
“Patience is a beautiful thing and it always gets rewarded, that isn’t different in the music industry and these values are all the more precious today. Although I have to admit that Francesco and his fellow band members would rather be performing non-stop again in front of the many fans. Together with ANote Music, we look to a bright future”, says Claudio Ferrante, CEO & Managing Partner of Artist First.
While the slowdown is likely to continue over the coming winter months, there’s nothing to be alarmed with for investors as only 3 months of the listing contract have passed. The band expects to see the situation revert to normality as spring arrives and remains heavily committed to perform a minimum of 180 shows before the contract of the catalogue’s listing expires.
But there’s also some good news…. Actually, some great news! Le Vibrazioni has been confirmed to perform as the only rock band in the show during the Sanremo Festival 2022. The event will take place on February 1 and will be broadcasted in more than 46 countries across the globe.
Le Vibrazioni had 6 shows planned during November and December, yet the royalties from these shows will not account for the catalogue’s listing on ANote Music platform as they are part of a series of shows which got rescheduled from a previous concert tour.