Exactuals, a technology firm handling payment systems for the entertainment industry launches an office in Nashville.
Chris McMurtry a prominent music tech entrepreneur will head up Exactuals new music division.
Focused on music Exactuals will be launching a new metadata product at the Music Biz conference next month.
“If you’re going to pay people in music, you have to get the data right,” McMurtry said.
Exactuals handles the duty of paying contractors, freelancers and other non-employees for companies in the music and entertainment industry.
Its partners include SAG-AFTRA, the working performers labor union, Entertainment Partners, the Mega Agency and other companies in the film and television space.
Exactuals promises accuracy and transparency in handling the complicated payments of royalties and residuals through its software PaymentHub.
Global Music Rights is among its music industry partners, and prominent entertainment business bank City National Bank is its banking partner.
Transparency in payments is an issue in the music industry. Songwriters, artists and producers are increasingly seeking assurance that their royalty payouts are accurate and on time.
Exactuals began in the music industry a few years ago while taking on the booming licensing organization Global Music Rights.
Exactuals is aiming to launch a new product at the Music Biz event next month in Nashville.
The new product will aim to use machine learning to connect smaller data points — a songwriter, artist, song title — to larger data points that will help songs be licensed more easily and rights holders be paid accurately.