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License Audit of an Independent Record Company in UK

We had been carrying out a series of licensing audits for three major record companies, B, E and S.

In this instance, we were auditing for E and S at the licensee's offices in London. We were sat in the licensee's general office and as a consequence could hear what was going on – the MD's secretary would answer calls saying that the MD was at present in Los Angeles when in fact he was sat in his office, just three paces from where we were sat.

This caused us to wonder why this was being said.

We also noticed that there was gold disc on the wall in the office showing that an album we were auditing – "Our Generation – The Sounds of The Sixties" – had sold 300,000 copies.

Company E had 8 tracks on this double album but had only been accounted for 80,000 sales. I met with the MD in his office later on in the week and mentioned this large disparity to him. He was surprised to hear this and said he would investigate.

The following Monday morning he went to E's offices in central London with a cheque for £50,000 to cover this error – another satisfied customer. Company 'S' had no tracks on this album, hence no claim ! Company 'B' were still due to audit their five tracks on the album but the licensee went into liquidation before they could get in.

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