Cooking Vinyl launches royalty management company

Cooking Vinyl Group, which opened an Australian office last September, has launched a co-owned joint venture with one of the UK’s leading independent distributors and service providers, Essential Music & Marketing.

Titled The Music Royalty Co (MRC), the company was set up to aid rights holders who are navigating the data growth surge affiliated with the increasing popularity of streaming services.

Using Counterpoint Systems, the leader in rights and royalty accounting software, MRC will offer full accountancy services including audits, US mechanicals, PPL registrations, and CWR files for copyright society registrations.

While it will operate out of CV’s first base of London from January 2015, MRC will service Cooking Vinyl Australia in Melbourne, CV America, Cooking Vinyl Publishing, CV’s external clients like Belgium-based independent R&S Records and of course, Essential Music & Marketing.

Former MD of Vital Distribution Mike Chadwick and Cooking Vinyl Records Owner Martin Goldschmidt founded Essential in 2003 and today, a wide range of independent labels utilise the company’s range of bespoke services – from manufacturing and digital expertise, through to creative management, marketing, promotion and sales. Goldschmidt and Chadwick will serve as MRC’s Directors.

Essential’s Head of Finance Ray Bush will step down to co-own and manage MRC; he will be replaced by Joe Gilbert who currently works as Management Accountant for Cooking Vinyl. Joining Bush will be former Cooking Vinyl alumni Tegan Sims, who will be Head of Royalties, Sam Difford, who will be Office Manager, and Gerri Geraghty who will join as a consultant. The team has over 50 years collective music industry experience and have produced more than 40,000 statements between them.

“The explosion in data analysis caused by streaming means there’s never been a more important time for companies to get their royalty processes straight,” Bush said in a statement. “We believe that there’s a real gap in the market for a company like MRC, which truly understands how those work, and we’re excited to show people what we can do.”

Cooking Vinyl Australia is headed by label veterans Leigh Gruppetta and Stu Harvey and represents local acts including Kate Miller-Heidke and 50 Lions as well as international artists including Alexisonfire, Dallas Green's solo project City & Colour and Gallows.