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Exactuals And Dot Blockchain Media Announce Partnership Aimed At Cleaning Up Music Data On The Blockchain
- Exactuals’ RAI to Ensure dotBC’s Clients Have Clean and Correct Data
Nashville, TN, July 30, 2018 - Exactuals, the leading provider of innovative solutions for complex payments and metadata issues in the entertainment industry, has announced a business partnership with media rights management company Dot Blockchain Media Inc. (“dotBC”), ensuring both company’s clients’ song data is clean, correct, and up-to-date and synchronized properly in conjunction with registering the datasets to dotBC’s blockchain solution.
dotBC’s rights data solutions promises to transform music catalog management leveraging blockchain technology. However, since the initial information entered into any blockchain-based system cannot be corrected retroactively, only augmented, it is critical the works and recording metadata be as accurate as possible at the point of registration. With this partnership, the two companies envision one of the first steps for clients will be to put their song catalogs through Exactuals’ RAI, (royalties.ai), a software development kit and open API allowing music companies to programmatically correct and enhance song and recording metadata to meet the multiplicity of global digital distribution standards.
“The blockchain is an exhilarating new frontier for the music industry, but its potential applications are limited or invalidated when using low quality or incorrect metadata,” Chris McMurtry, Head of Music Product for Exactuals said. “With RAI, Exactuals works with music organizations of all types to ensure their music metadata is as clean and correct as possible when it is added to the blockchain. Thanks to this partnership, our clients will now have the highest level of confidence in the accuracy and completeness of their data while leveraging the many benefits of dotBC’s blockchain based solution for catalog management.”
“For our blockchain solution to work as intended, we need to start with the most correct information possible,” Ken Umezaki, CEO of dotBC, stated. “RAI and the Exactuals team provide the expertise and algorithmic data normalization services that allow us to realize the true potential of our multi-party music rights management solutions for all of our clients. We are excited about formalizing a longstanding relationship with Exactuals, and continuing to develop a modernized music rights framework fit for the digital age together.”
Since its founding in 2011, Exactuals has established itself as the SaaS leader in the film/TV payments space and recently expanded into music. Developed in-house by the Exactuals Music Data team led by McMurtry, RAI, uses machine learning to optimize and enhance music metadata for record labels, publishing companies, performance rights organizations (PROs), and digital service providers (DSPs) to ensure works are registered properly for royalty attribution.
dotBC provides rights management solutions for all media business companies and independent creators through its dynamic media format and supporting technology architecture to address the growing need for a multiparty media rights management solution for digital media assets. dotBC has announced client partnerships with prominent music industry players, including the Society of Composers, Authors and Music Publishers of Canada (SOCAN), licensing and royalty service MediaNet, digital distribution technology company FUGA, publishing administration platform Songtrust, and independent online music aggregator CDBaby. DotBC has also announced formal partnerships with technology giant Intel (whose blockchain framework serves as the platform for dotBC’s recording rights registry), and blockchain framework software company Cardstack Syndicate.
Exactuals was founded in 2011, a Software as a Service (SaaS) company modernizing the way the entertainment industry makes payments, including residuals, royalties, marketplace payments, and similarly complex transactions. Recognizing clear rights ownership information is a central issue for accurate licensing and ultimately payment, the company recently introduced RAI, a software development kit and open API which programmatically improves IP metadata. Exactuals is headquartered in Los Angeles, California, with an office in Nashville. It is funded by leading strategic and venture investors City National, Entertainment Partners, TTV Capital, and Stanford StartX Fund. For more information, please visit www.exactuals.com.
About Dot Blockchain Media, Inc.
DotBC is a U.S.-based corporation, which seeks to modernize media rights management by creating an open system with blockchain technology and a file container to dynamically “wrap” rights information, media files, and metadata linked to a distributed database. Co-founded by industry veterans Benji Rogers, Ken Umezaki, Bill Wilson, Allen Bargfrede, and Chris Tse with offices in New York, London, and Portland, the company’s focus is on building a media rights ecosystem that provides better information to both businesses and creators about rights ownership, faster payments, and greater transparency. For more information on dotBC, please visit www.dotblockchainmedia.com.
Exactuals – Laurie Jakobsen, firstname.lastname@example.org, 917-697-2274