watch May I submit this to film festivals?

Some time ago there was a competition to make a video to be used at a live performance of "Cloudbusting" (a Kate Bush tribute band). They play this song live with a video as background.

I made a video and I don't know if I may submit it or not to film festivals. Are copyright issues a problem?

Here's the video:

https://www.youtube.com/watch?v=GWMkrko_EzU

Most reputable festivals won't show it, but they'll gladly take your money.