Cooking Vinyl Group has been revealed as the co-founder of a new company designed to help labels and publishers deal with the mass of data coming from digital service providers in their accounts.
The Music Royalty Co (MRC) uses popular royalty accounting software Counterpoint and offers partners audits, US mechanicals, PPL registrations, and CWR files for copyright society registrations, alongside a full accountancy service.
Based out of offices in London, MRC is managed by co-owner Ray Bush, who has been Head of Finance for CV-owned distribution and services company Essential Music & Marketing for the last four years.
The MRC team also consists of former Cooking Vinyl staff Tegan Sims (Head of Royalties) and Sam Difford (Office Manager), and Gerri Geraghty who is joining the company as Consultant. Cooking Vinyl MD Martin Goldschmidt and Essential MD Mike Chadwick serve as Directors.
MRC says it has invested significantly in its IT systems to ensure fast processing times and complete security around sensitive client data, including protected backups. Likewise, the company’s online portal enables clients to securely upload data and files directly to its servers.
As well as delivering royalty services to Cooking Vinyl Records, Essential Music & Marketing, Cooking Vinyl Publishing, CV America and Cooking Vinyl Australia, MRC will work with external clients such as R&S Records.
Replacing Bush as Essential’s Head of Finance will be Joe Gilbert who currently works as Management Accountant for Cooking Vinyl.
Ray Bush (pictured) said: “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. 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.”Music Business Worldwide
