ANote Music Review
A comprehensive analysis of ANote Music — the Luxembourg music royalty marketplace. Invest in established catalogues, receive recurring royalty income, and trade on a secondary market.
Visit Official Website| Platform | ANote Music |
| Official Website | anotemusic.com |
| Company | ANote S.A. |
| Headquarters | Luxembourg |
| Founded | 2018 |
| Public Launch | July/August 2020 |
| Founders | Marzio F. Schena, Matteo Cernuschi, Grégoire Mathonet |
| Business Model | Music royalty marketplace / alternative investment |
| Investors | 45,000+ (company-reported) |
| Royalties Distributed | €2.1M+ |
| Trades Executed | €17M+ |
| Historical Royalty Return | 10.72% annualized (Aug 2020–May 2026) |
| Total Return IRR | 9.15% annualized |
| Minimum Investment | One catalogue share |
| Primary Market Fee | 4% on royalty distributions |
| Secondary Market Fee | 8% on royalty distributions |
| Payment Infrastructure | Mangopay (CSSF-regulated e-money institution) |
| Catalogue Requirements | 5+ years royalty history, avg €10k/year over 3 years |
| Trust Score | 8.1 / 10 |
| Overall Rating | 4.1 / 5 |
| Ease of Use | ||
| Beginner Friendly | ||
| Earning Potential | ||
| Payment Reliability | ||
| Transparency | ||
| Customer Support | ||
| Long‑term Reliability | ||
| Overall Rating |
Alternative Asset Investors
Investors seeking diversification beyond stocks, bonds, or real estate through music royalty income streams.
Music Enthusiasts with Capital
Fans who want to invest in music catalogues they believe will continue generating royalties.
Passive Income Seekers
Royalty distributions provide recurring income without active management—but not guaranteed returns.
Music Creators & Rights Holders
Artists, labels, and publishers seeking upfront liquidity by selling a portion of future royalties.
Small Investors Seeking Fractional Access
Buy as little as one catalogue share, lowering the barrier to music-rights investing.
Portfolio Diversifiers
Music royalties have low correlation with traditional markets, making them useful for diversification.
Investors Seeking Guaranteed Income
Royalty income varies with streaming, popularity, and catalogue performance. No fixed yield is guaranteed.
Those Needing Immediate Liquidity
The secondary market exists but liquidity is not guaranteed; you may not sell quickly at your desired price.
People Confusing This With a Bank Deposit
ANote is not a bank or a regulated savings product. Your capital and returns are at risk.
Investors Unfamiliar With Alternative Assets
You must understand royalty interests, music rights, and catalogue valuation before investing.
ANote Music is a Luxembourg-based marketplace founded in 2018 and publicly launched in July 2020. It allows investors to purchase contractual royalty interests in established music catalogues, receiving a proportional share of future royalty payments. The platform reports 45,000+ investors, €2.1M+ royalties distributed, and €17M+ trades executed as of August 2026.
A key point: buying a "share" on ANote does not give you ownership of the song or copyright. It is a right to receive a portion of future royalty income from a specific catalogue. Investors can buy on the primary market via Dutch auctions or trade on the secondary market. Royalty payouts occur approximately every four days across the platform, and the historical royalty index showed 10.72% annualized return from August 2020 to May 2026.
Fees are transparent: 4% distribution fee on primary market shares, 8% on secondary market shares, with a cap of 0.5% of catalogue market cap. Deposit fees via card are ~1.8% + €0.18. Payment infrastructure is provided by Mangopay, a CSSF-regulated e-money institution, while ANote itself is not a regulated financial-sector entity under Luxembourg law.
ANote's journey from a music-finance idea to a functioning royalty marketplace provides important context for evaluating its current position.
2018 — Founding
Founded by Marzio F. Schena, Matteo Cernuschi, and Grégoire Mathonet in Luxembourg with the aim of democratizing music royalty investing.
2019–2020 — Accelerator & First Funding
Accepted into Luxembourg's Fit 4 Start, raised €505K in early funding, and publicly launched the marketplace on July 28, 2020.
2021 — Catalogue Expansion & Industry Advisors
Partnered with Music Royalties Inc. to list a 2,000+ track catalogue including The Kinks, Avicii, Drake, and Flo Rida. Added advisors like Mathew Knowles.
2023 — Institutional Products
Launched professional/institutional offerings with €125K+ minimum investments, and capital raised surpassed €3.3M.
2024–2026 — Scaling & Redesign
Surpassed €1M royalties distributed in 2024. By mid-2026, platform reports 45K+ investors, €2.1M royalties, and €17M trades. Marketplace redesigned in July 2026.
Create an Account
Sign up and complete identity verification (KYC) through Mangopay. You can deposit funds before KYC, but cannot trade or withdraw.
Browse Catalogues
Review available catalogues with royalty history, rights type, number of songs, payout frequency, and asking price.
Buy via Auction or Secondary Market
Participate in Dutch auctions for new listings or purchase existing shares on the secondary market.
Receive Royalty Distributions
Royalty payments are automatically credited to your wallet when the catalogue distributes income, subject to distribution fees.
Manage & Withdraw
Reinvest royalties, sell shares on secondary market, or withdraw funds via supported methods.
Fractional Royalty Interests
Buy as little as one share of a music catalogue, gaining proportional rights to future royalty income.
Primary & Secondary Market
New catalogues are listed via Dutch auction; existing shares can be traded on the secondary market.
Catalogue Due Diligence
ANote requires 5+ years of royalty history and average €10k/year over the last 3 years for listed catalogues.
Transparent Fees
4% distribution fee on primary, 8% on secondary, capped at 0.5% of catalogue market cap per distribution.
Mangopay Payment Infrastructure
Regulated e-money institution holding investor funds in segregated wallets; supports cards, bank transfer, and crypto.
Creator Monetization
Artists and rights holders can sell a portion of future royalties for upfront capital while retaining ownership.
ANote provides access, but investors face real challenges. Here are the most important ones and how to address them.
Problem: "~10% Return" Misunderstood
Many investors see the historical index return and assume it's a fixed yield.
Solution: Understand that royalty income varies. Evaluate individual catalogues based on royalty history, concentration, and rights type, not the platform average.
Problem: Secondary Market Liquidity
You may not be able to sell shares quickly or at the desired price.
Solution: Treat shares as long-term holdings. Only invest capital you won't need immediately, and diversify across multiple catalogues.
Problem: Distribution Fees Reduce Net Yield
4% primary / 8% secondary fees are deducted from each royalty payment.
Solution: Calculate net yield after fees. Compare primary vs secondary purchase fees and consider the cap protection.
Problem: Regulatory Confusion
ANote itself is not CSSF-regulated, though it uses Mangopay for payments.
Solution: Don't assume bank-level deposit protection. Understand the difference between a marketplace and a regulated investment firm.
Problem: Royalty Income Can Decline
A catalogue can lose popularity, reducing future royalties.
Solution: Diversify across genres, artists, and catalogue sizes. Monitor royalty trends regularly.
Problem: Deposit Costs
Card deposits incur ~1.8% + €0.18, which adds up for larger investments.
Solution: Use bank transfer or crypto where possible to reduce deposit fees, and factor all costs into your expected return.
ANote provides several ways to earn, but all require capital investment and understanding of the underlying asset.
Royalty Income (Passive)
Buy catalogue shares and receive your proportional share of royalties. Payouts occur roughly every 4 days across the platform.
Potential: Historical index 10.72% annualized royalty return, but individual results vary.
Tip: Diversify across multiple catalogues to reduce single-hit dependency.
Secondary Market Trading
Buy shares at one price and later sell at a higher price on the secondary market.
Potential: Can exceed royalty income if catalogue value appreciates.
Tip: Monitor market demand and catalogue performance before selling.
Creator Monetization
Artists/rights holders can list a catalogue and sell a portion of future royalties.
Potential: Can raise significant capital without giving up ownership of songs.
Tip: Use temporary transfers or buyback clauses to retain long-term control.
Opening an ANote account is straightforward but requires KYC for investing activities.
Create an Account
Sign up with email. You can deposit funds before KYC, but cannot trade or withdraw.
Complete Identity Verification
Submit government ID and proof of address through Mangopay. Required to participate in auctions and withdraw.
Fund Your Wallet
Deposit via card, bank transfer, or crypto. Card deposits incur ~1.8% + €0.18 fee.
Start Investing
Browse catalogues, join auctions, or buy on secondary market. Receive royalty distributions automatically.
The redesigned 2026 marketplace focuses on simplicity and portfolio management.
Marketplace
Explore catalogues, filter by genre/royalty type, and view historical performance.
My Portfolio
Track your shares, royalty earnings, and total return.
Listen
Listen to songs from listed catalogues directly within the platform.
Backstage
Access exclusive offers, discounts, and community features.
Funds
Manage deposits, withdrawals, and view transaction history.
Settings
Update KYC, payment methods, and notification preferences.
Primary Market Distribution Fee
4% of each royalty distribution for shares acquired on the primary market.
Secondary Market Distribution Fee
8% of each royalty distribution for shares acquired on the secondary market.
Distribution Fee Cap
Capped at 0.5% of catalogue market capitalization per distribution.
Deposit Fees
Card deposits: ~1.8% + €0.18. Bank transfer and crypto may have lower or no fees.
| Royalty Payout Frequency | Varies by catalogue (monthly/quarterly/semi-annual); platform average one payout every 4 days |
| Primary Market Distribution Fee | 4% |
| Secondary Market Distribution Fee | 8% |
| Card Deposit Fee | ~1.8% + €0.18 |
| Withdrawal Processing | Via Mangopay, typically 1–3 business days |
ANote's legitimacy is supported by its Luxembourg corporate presence, public founders, funding history, and real payout records. The platform reports €2.1M+ in royalties distributed and publishes monthly payout summaries. Trustpilot rating is 3.9/5 from 113 reviews, with many users confirming successful deposits and royalty payments.
Payment infrastructure via Mangopay adds credibility, as investor funds are held in segregated wallets. However, the platform itself is not a regulated investment firm, so payouts depend on the underlying catalogue performance and the marketplace's operational integrity.
Company Transparency
ANote publishes founders, funding, payout records, and fees clearly. However, it is a private company, and financial statements are not publicly audited. Regulatory status requires careful wording.
Security & Reliability
Investor funds are handled by Mangopay, a CSSF-regulated e-money institution, in segregated wallets. ANote performs catalogue due diligence and KYC. However, secondary market liquidity is variable.
Risk Assessment
The main risks are investment-related: royalty income can decline, catalogue prices can fall, and liquidity is not guaranteed. Platform legitimacy is high, but this is not a risk-free product.
- Accessible alternative asset: invest in music royalties from as little as one share
- Historical royalty index return of 10.72% annualized (Aug 2020–May 2026)
- 45,000+ investors and €17M+ trades executed
- Transparent fee structure with distribution fee cap
- Catalogue due diligence: minimum 5 years royalty history required
- Secondary market enables potential liquidity
- Mangopay provides regulated payment infrastructure
- Creators can monetize future royalties while retaining ownership
- Active 2026 payouts: €360K+ distributed in H1 2026 alone
- User-friendly platform redesigned in July 2026
- Trustpilot 3.9/5 with many positive recent reviews
- Royalty income is variable, not guaranteed
- Historical return is not indicative of future performance
- Secondary market liquidity can be low; you may not sell quickly
- Distribution fees (4% primary, 8% secondary) reduce net returns
- Card deposit fees (~1.8% + €0.18) increase cost basis
- ANote itself is not a regulated financial-sector entity under CSSF
- Complex rights structures may be confusing for beginners
- No guaranteed principal protection; capital can be lost
- Tax treatment varies and may be complex for some investors
- No confirmed standard referral/affiliate program
ANote provides support via email, help center, and responsive customer service. Trustpilot reviews frequently mention quick and helpful support. The support center includes detailed guides on KYC, fees, and catalogue investing. Response times are generally good.
The redesigned marketplace offers a clean, intuitive interface. Catalogue discovery is straightforward, and the portfolio dashboard gives clear visibility into royalty earnings. The Listen feature adds an engaging touch. Some users may find the fee structure and rights explanation complex, but the support center mitigates this.
- Alternative asset investors seeking portfolio diversification
- Music fans who want to invest in catalogues they believe in
- Passive income seekers comfortable with variable returns
- Creators and rights holders seeking upfront liquidity
- Investors who can tolerate illiquidity and long holding periods
- Investors needing guaranteed returns or immediate liquidity
- Beginners without understanding of royalty interests and alternative assets
- Those who cannot afford to lose the invested capital
- Users expecting a traditional regulated investment product
- People looking for a simple high-yield savings account
Earnings depend on catalogue selection, purchase price, and royalty performance. The historical index shows 10.72% annualized royalty return, but individual catalogues can vary significantly. The following are illustrative scenarios based on platform data.
| Invest €10,000 in a diversified portfolio | Historical potential ~€1,072/year before fees/taxes |
| Invest in a single hit-driven catalogue | Higher risk, could return more or less than average |
| Secondary market trading | Capital gains possible if catalogue value increases |
| Creator listing a catalogue | Upfront liquidity based on auction proceeds |
- Diversify across catalogues — reduce single-artist or single-song concentration risk.
- Review royalty history carefully — look for stable or growing income, not just high past payouts.
- Understand the rights type — master, publishing, writer's share, etc., affect risk and reward.
- Calculate net yield — subtract distribution fees and deposit costs from expected royalties.
- Buy on primary market when possible — lower distribution fee (4% vs 8%) can materially improve returns.
- Monitor catalogue performance — track payout announcements and adjust your portfolio if royalties decline.
- Consider long holding periods — avoid needing to sell quickly; give royalties time to compound.
- Use bank transfer or crypto for deposits — minimize card fees.
- Reinvest royalties selectively — compound returns only if you're comfortable with the risk.
- Stay informed — follow ANote's monthly payout reports and market updates.
Critical Platform Rules
General Safety Recommendations
- Keep records of all transactions and payouts
- Use only official ANote channels for support
- Be cautious of unsolicited investment advice
- Understand the tax implications in your jurisdiction
- Do not share your login credentials
| Platform | Type | Fee | Best For | Trust Score |
|---|---|---|---|---|
| ANote Music | Music Royalty Marketplace | 4–8% distribution | Music royalty investors | 8.1/10 |
| Royalty Exchange | Music Royalty Auctions | Varies | Music rights sales | 8.0/10 |
| SongVest | Music Royalty Shares | Varies | Fractional music royalties | 7.5/10 |
Is ANote Music legit?
Yes. ANote is a legitimate Luxembourg-based company founded in 2018, with public founders, funding, and real royalty distributions. However, it is not a regulated investment firm, and investments carry risk.
What exactly do I own when I buy a share?
You own a contractual right to a proportionate share of future royalty income from a specific catalogue—not the song or copyright itself.
Is the 10% return guaranteed?
No. The 10.72% annualized royalty return is historical index performance from Aug 2020 to May 2026. Future returns can vary significantly.
How often do I get paid?
Payouts vary by catalogue—monthly, quarterly, or semi-annually. Across the platform, a payout occurs roughly every 4 days on average.
What fees does ANote charge?
4% distribution fee on primary market shares, 8% on secondary market shares, capped at 0.5% of catalogue market cap. Card deposits incur ~1.8% + €0.18.
Can I sell my shares?
Yes, on the secondary market. However, liquidity is not guaranteed, and you may not find a buyer immediately.
Is ANote regulated?
ANote itself states it is not subject to CSSF regulation as a financial-sector entity. Payments are handled by Mangopay, a CSSF-regulated e-money institution.
What is the minimum investment?
You can start with as little as one catalogue share, but the actual cost depends on the price per share of the specific catalogue.
Can music creators benefit from ANote?
Yes, artists and rights holders can sell a portion of future royalties for upfront liquidity while retaining ownership of their music.
Final Verdict
ANote Music is a legitimate and innovative platform that opens music royalty investing to a broader audience. Its historical returns and active payout record are compelling, but they are not guarantees.
For investors who understand alternative assets and can tolerate variable income and limited liquidity, ANote offers a genuinely unique way to earn passive royalty income. The platform's catalogue due diligence, transparent fees, and Mangopay payment infrastructure add credibility. However, the advertised ~10% return must be viewed as historical, not fixed, and the secondary market liquidity risk is real.
ANote Music is recommended for experienced investors seeking portfolio diversification and music royalty exposure—not for those needing guaranteed returns or immediate liquidity.
Ready to Invest in Music Royalties?
Join 45,000+ investors on ANote Music. Explore catalogues, receive royalties, and build a passive income stream from music.
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