Exactuals, the leading provider of innovative solutions for complex payments and metadata issues in the entertainment industry, has acquired Backlash Solutions, a digital music company dedicated to helping labels, distributors, and publishers manage their data and generate royalty statements.
Joe DeCanio, President & CEO of Backlash Solutions, and his team will join Exactuals, establishing a new office in New York City alongside the company’s existing hubs in Los Angeles and Nashville. The NYC office will introduce and oversee a cloud-based system that will provide clients with a new option for calculating royalties and generating statements. It will also streamline the process for submitting royalty payment data from any royalty system into Exactuals’ flagship product, PaymentHub, which helps companies handle complex payments such as residuals, royalties, marketplaces, and more. Together with RAI, an open API that uses machine learning to clean and enhance metadata by matching disparate data sets, these products will provide an integrated end-to-end solution for Exactuals clients, from data to calculations to payments.
“Joe is a great leader with a wide set of skills, and his work with Backlash Solutions makes him and his team the perfect choice to run our cloud-based royalty calculation platform,” said Mike Hurst, Co-Founder and CEO of Exactuals. “With our powerful payment solutions and their deep understanding of royalty calculation technology, we can create a product that addresses every single need a record label, music publisher, or other company could have regarding payments.”
“I’ve always been impressed by Exactuals’ technical solutions for royalty payments and music metadata, so I jumped at the opportunity to bring my team’s strengths together with theirs to create a game changing solution for the music industry,” said DeCanio. “Now, music companies can go to one place to handle their royalty calculations, payments, and much more. The result is that everyone will be paid quicker and more transparently.”
DeCanio got his start as an engineer, designing secure digital communication systems for the United States Military. After taking his knowledge to Maintech Inc., where he deployed call center systems for Verizon, AT&T, and other telecommunications companies, he enrolled in law school and graduated from St. John’s University School of Law in 1995. DeCanio then joined Scully, Scott, Murphy & Presser as a Patent Attorney, prosecuting and litigating patents for Fortune 500 companies like Lockheed Martin, IBM, and Johnson & Johnson. Rediscovering his love of tech, he joined internet startup Proxicom Inc. in 1997, where he managed business units that provided internet consulting services to JPMorgan Chase, General Electric, Piaggio, and others. He left in 2002 to become a Vice President at JPMorgan Chase, where he managed a portfolio of products for Chase Online Business Banking. After being bitten by the entrepreneurial bug, DeCanio founded Backlash Solutions in 2006. The company was created to build tools for music companies that would simplify data management and royalty reporting. The result was the SR1 product suite, which began with SR1 Label before expanding to include SR1 Distributor and SR1 Publisher.