Cary Walker, (213) 673-7615 Trained on public information, simply pass any piece of music metadata and RAI will match, resolve, and return additional data for you. RAI is an open API that uses machine learning to clean and enhance metadata by matching disparate data sets This Demo Page is an illustration of RAI's ability to match disparate sets of data. 10:11 AM PDT 8/13/2018 Company. We are a member of: contact. RAI is a software development kit and open API that allows music companies to programmatically correct and enhance song and recording metadata to meet the multiplicity of global digital distribution standards. Through its flagship product, PaymentHub, Exactuals processes a high volume of payments to rights holders, providing customers with a faster, more transparent, cost-efficient electronic process and the ability to utilize payment data as actionable intelligence. The firm is headquartered in Los Angeles, has a growing office in Nashville, and employs about 40 colleagues. clients. For more information, please visit www.exactuals.com. Exactuals, headquartered in Los Angeles with an office in Nashville, employs about 40 people. The Hollywood Reporter, LLC is a subsidiary of Prometheus Global Media, LLC. Exactuals then announced a long-term landmark contract with the entertainment industry’s largest union, SAG-AFTRA, and is working with them to offer direct deposit of residual payments to its 160,000 members. Exactuals’ RAI software allows for music companies to input and correct data for song recording metadata, and add additional information where required. They began digitising processes to make it easier for the payers and the payees in those industries to manage payments. Source: DotBlockchain Partners With Exactuals In Effort to Clear Up Music’s Data Problem. In addition to PaymentHub, Exactuals recently launched RAI, a sophisticated artificial intelligence tool used by record labels and publishers to optimize ownership metadata for the calculation and payment of royalties. EMAIL ME. That’s where Exactuals’ RAI (royalties.ai) comes in. City National anticipates additional revenue from Exactuals’ payment processing and also expects to increase deposits and enhance the services it can offer to the bank’s entertainment clients. cary.walker@cnb.com, Debora Vrana, (213) 673-7631 to learn more & get involved. Our Clients and Partners. Deposit products and services are provided by City National Bank Member FDIC. Upgrade your browser to optimize your online banking experience. Previous investors include Entertainment Partners, TTV Capital, S-Cubed Capital and Stanford StartX Fund. “This acquisition builds upon a five-year investment relationship between our two companies. Via machine learning and entity resolution, RAI optimizes and enhances 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. ©2020 City National Bank. With $48.8 billion in assets, City National Bank provides banking, investment and trust services through 72 offices, including 19 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville, Atlanta, Minneapolis and Washington, D.C. “City National has been a minority investor in Exactuals for several years, and the two companies have formed a strong partnership. Exactuals’ system provides payments and reporting functions with greater security, accuracy, transparency and speed. Mike Hurst will remain CEO of Exactuals. Email Address. The payments firm will continue to modernize the residuals and royalty payment process for the entertainment industry, and over time, it plans to expand to serve other businesses as a wholly owned subsidiary of City National Bank. Equal Housing Lender
Bill Wilson. Upgrade to the latest Internet Explorer version, Investment and Insurance products: Are not insured by the FDIC or any other federal government agency, Are not deposits of or guaranteed by a Bank or any Bank affiliate. About Our Ads Sitemap | © 2020 The Hollywood Reporter Email. by City National Bank is a subsidiary of Royal Bank of Canada. In this webinar, taking place Thursday, October 4 from 2-3 pm ET, Exactuals Head of Music Product Chris McMurtry and Lindsay Conlin, who works in Music and Data Business Development at Exactuals, will walk attendees through the process of adopting and utilizing RAI, explain why machine learning is key to perfecting metadata, and show how Exactuals is working with companies like DotBlockchain to solve the metadata problem. Leave … City National said Mike Hurst will remain CEO of Exactuals, and he and other top executives are being retained with multiyear contracts. © document.write(new Date().getFullYear()); Music Business Association – Music Biz | Privacy Policy, Entertainment & Technology Law Conference. He and the firm’s other executives are being retained with multi-year contracts. But despite nearly two decades of growth since the launch of the first online music stores in the early 2000s, the music industry still has a massive metadata problem. debora.vrana@cnb.com, Paul Stowell, (702) 952-4415 Exactuals was founded at the Stanford Graduate School of Business in 2011 with the goal of modernizing the entertainment payments space. Title. In addition to PaymentHub, Exactuals recently launched RAI, a sophisticated artificial intelligence tool used by record labels and publishers to optimize ownership metadata for the calculation and payment of royalties. We are working with the leading music industry clients, partners, artists and writers. The payments firm will continue to modernize the residuals and royalty … LOS ANGELES – City National Bank, America’s Premier Private and Business Bank®, today announced it has acquired Exactuals, a Los Angeles-based provider of innovative SaaS solutions for complex payments in the entertainment industry. Terms of Use | City National, a subsidiary of Royal Bank of Canada with $48.8 billion in assets, first invested in Exactuals five years ago and last year led a $10 million funding round for the company, which was founded at the Stanford Graduate School of Business in 2011. Privacy | It recently launched RAI, an artificial-intelligence tool for record labels and publishers that helps to calculate royalty payments. Mike Hurst will remain CEO of Exactuals. Mike and his team are highly skilled, and we’re very pleased that they will be joining City National. Exactuals provides innovative SaaS solutions used by film/TV, music and marketplace companies to manage residuals, royalties and other complex payments. Exactuals started in film and TV and the first client was the Screen Actors Guild (SAG) and AFTRA. All Rights Reserved. Read More » Headlines Blockchain, dotBlockchain, Exactuals. All rights reserved. For more information about City National, visit the company’s website at www.cnb.com. It recently launched RAI, an artificial-intelligence tool for record labels and publishers that helps to calculate royalty payments. Newsletter. Firms can process global payments through operating accounts at City National. RBC serves more than 16 million personal, business, public sector and institutional clients through offices in Canada, the United States and 34 other countries. City National Bank on Monday said it paid an undisclosed amount of money to acquire Exactuals, a royalties and residuals payment company whose clients include SAG-AFTRA and a variety of film, TV and music companies. Exactuals' RAI & Metadata Advisor. City National Bank is a subsidiary of Royal Bank of Canada
He and the firm’s other executives are being retained with multi-year contracts. TWITTER In addition, the company and its investment affiliates manage or administer $64.9 billion in client investment assets. In many cases, this automated system has replaced an outdated payment process, reducing or eliminating the need for costly paper checks and reporting. In February 2017, City National participated in a $10 million round of funding for Exactuals. The added financial strength of City National and its parent company Royal Bank of Canada (RBC) will enhance Exactuals ability to serve larger clients, while providing peace of mind to firms of all sizes. First Name. RAI is a software development kit and open API that allows music companies to programmatically correct and enhance song and recording metadata to meet the multiplicity of global digital distribution standards. Paul Bond Exactuals, founded in 2011, 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. That’s where Exactuals’ RAI (royalties.ai) comes in. They automated everything and provided transparency which the … FACEBOOK Terms of City National’s acquisition were not disclosed. Our systems indicate that you are using an older version of Internet Explorer that may not fully support our online services. paul.stowell@cnb.com, Jennifer Harlan, (917) 322-0994 GENERAL & PUBLICITY christian@verifi.media BUSINESS chloe@verifi.media. “Exactuals has developed a groundbreaking and unique payments and reporting platform that enhances security and reliability,” said City National Bank Chairman and CEO Russell Goldsmith. ©2020 City National Bank. Exactuals has been around for nearly eight years and in September of last year Exactuals was acquired by City National Bank. This acquisition builds on City National’s history of serving the entertainment industry, and it is the latest example of our commitment to provide clients with premier service and state-of-the-art payments systems. | Cookie Settings. Founded in 2011, the wholly owned subsidiary of City National Bank is led by a team of software and entertainment industry veterans with headquarters in Los Angeles and a growing office in Nashville. All Rights Reserved. Since 2013, Exactuals and City National have worked together to build revolutionary tools and services for our shared customer base in the entertainment space, and this acquisition will accelerate our mission to transform and modernize the industry for the better. City National is a subsidiary of RBC, one of North America’s leading diversified financial services companies. Email. We look forward to helping Exactuals as the firm continues to grow.”. The music business has gone digital: it’s an indisputable fact. With the combined strength of City National and RBC, we expect significant new growth as companies of all sizes move to process royalties and residuals through Exactuals with confidence.”. jennifer.harlan@cnb.com, Recognized for Excellence in Business Banking by Greenwich Associates for 12 Consecutive Years, Deposit products and services are provided by City National Bank Member FDIC. NMLSR ID# 536994. Exactuals is led by a team of software and entertainment industry veterans who have experienced the limitations of traditional payment solutions first-hand.
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