(CelebrityAccess MediaWire) —
Royalty Services, L.P., a joint venture between Universal Music Group (UMG), Warner Music Group (WMG), Lightspeed Venture Partners and Exigen Group, has appointed Joe DeTullio as chief executive officer. Formerly chief information officer at Universal Music Group, DeTullio will oversee business operations, marketing, sales and strategic development at Royalty Services.
The Royalty Services, L.P. is currently developing the industry's first end-to-end royalty transaction processing service for UMG and WMG. Based on industry leading business process management technology from Exigen Group, the Royalty Services platform will process the millions of royalty transactions currently handled by the information technology departments of UMG and WMG, significantly reducing the overall cost and processing time. Royalty Services is offering its royalty transaction processing service as a business process utility to other companies in the entertainment and media industries, allowing them to enjoy lower costs and more efficient royalty payment processing.
"Business processes, and their supporting technology, must adapt as the market evolves," said DeTullio. "In the music industry, digital media disrupted the market and prompted a change in the way every business process behaves through the sales and distribution channels. The movie, publishing and telecommunications industries will encounter similar challenges as they embrace online media content distribution. These industries will have to break out of the straitjacket that constricts their approach to business processes and look at business processes as assets that can generate financial returns, not simply as expenses. Royalty Services presents a viable alternative that handles mission-critical but non-differentiating common processes across the entertainment industry, allowing media, entertainment and telecommunications companies to focus on their products rather than royalty processing."
DeTullio transferred to Universal Music Group in September 2001 as part of Vivendi Universal's divestiture of the Seagram Spirits and Wine Group, where DeTullio served as vice president and chief information officer. –Bob Grossweiner and Jane Cohen
