Music Industry News Network [05-15-2018]
Exactuals, SaaS Payments Leader, Unveils R.AI To Optimize And Enhance Metadata For Music Companies
Nashville, TN, May 15, 2018 - Exactuals, provider of an innovative SaaS platform for complex payments in the entertainment industry, has now introduced R.AI (royalties.ai), a software development kit and open API allowing music companies to programmatically improve song metadata to meet digital distribution standards. R.AI 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.
Exactuals’ client base of labels and publishers use R.AI when registering works with Apple Music, Spotify, Pandora, and more to ensure all data requirements are met with the highest degree of confidence. R.AI accomplishes this goal by providing smart metadata tagging and parsing, data formatting and enhancement, sound recording copyright and publishing copyright matching, an enterprise-level matching framework for internal data integration, and more. Clients receive actionable insights and peace of mind from knowing royalties will be properly attributed to creators and rightsholders.
Developed in-house by the Exactuals Music and Data teams, led by Chris McMurtry, Head of Music Product, R.AI will be a crucial part of Exactuals’ further expansion into the music industry. Exactuals seeks to bring the same level of precision, transparency, and security to metadata management as it has to residuals payments, reporting, and analytics in the film and TV space. Over the past year, Exactuals has built a solid client base in the music industry including CD Baby, The Orchard, SideOneDummy Records, Mad Decent, 800 Pound Gorilla Records, Memory Lane Music Group, Royalty Solutions Corp., Secret Road Music Services, NPREX, and more.
R.AI will be formally unveiled by the Exactuals team at Music Biz 2018 in Nashville, Tennessee (May 14-17). The California-based company recently opened an office in Nashville to more closely serve the strong music community in Music City.
“Music has been a huge part of my life since the very beginning and heading Exactuals’ new music product and development of R.AI is definitely the endeavor I’m most excited about,” McMurtry said. “Every side of the music industry -- from artists and managers to publishers and licensing groups will have an infinitely smoother, more secure, and more transparent process when it comes to payments thanks to Exactuals’ software. We’re eager for everyone to learn more about it and try R.AI for themselves.”
“Exactuals was founded nearly seven years ago to focus on film and TV residuals, but we have always known music royalties would be a big part of our future,” Mike Hurst, Co-Founder and CEO of Exactuals, said. “We have seen early success in music and are now investing in the industry through our R.AI product and new office in Nashville, with Chris McMurtry at the helm. We’re thrilled to have Chris leading our efforts in the space and introducing R.AI to the world.”
“Matching and standardizing sound recording and composition metadata is an extremely important challenge to solve,” Tracy Maddux, CEO of CD Baby, said. “R.AI by Exactuals has proven they can meet the high standards of top digital service providers.”
Since its founding in 2011, Exactuals has established itself as the SaaS leader in the film/TV payments space, solidifying high-profile deals with the industry’s largest talent union, SAG-AFTRA (Screen Actors Guild), and the industry’s largest payroll company, Entertainment Partners. It has received more than $23 million in funding to date.
For more information on Exactuals, please visit www.exactuals.com.
Exactuals is a Software as a Service (SaaS) company modernizing the way the entertainment industry makes payments, including residuals, royalties, marketplace payments, and similarly complex transactions. Exactuals' flagship product, PaymentHub, helps film studios, payroll companies, record labels, publishing companies, and marketplaces pay rightsholders securely, accurately, and quickly in over 100 countries, through its partnership with City National. PaymentHub then provides feature-rich online portals for all parties involved in the transaction. Founded in 2011 with the mission to modernize the film/TV payments space, Exactuals has recently expanded into the music industry. The company is led by a team of software and entertainment veterans including CEO and Co-Founder Mike Hurst, CTO and Co-Founder Jason Hiller, Head of Music Product Chris McMurtry, and Head of Partnerships/Business Development Jack Cyphers. Exactuals is headquartered in Los Angeles, California and is funded by leading strategic and venture investors such as City National, Entertainment Partners, TTV Capital, and Stanford StartX Fund. For more information, please visit www.exactuals.com.
Exactuals Press Contacts
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