RIAA budget shrinks nearly 50% over two years

TorrentFreak has had a look at the RIAA's IRS filing for the year ending March 31, 2011, and has discovered that the organization has faced major contraction. Over two years, the organization's budget has been cut nearly in half. Staff numbers have been cut from 117 to 72; two senior execs with a combined salary of over $2M are gone. Legal fees are down from $16.50 to $2.34 million over two years. As TorrentFreak concludes, RIAA member companies -- the major labels -- just aren't coughing up the same big contributions that they once made.

The top earner in the year ending March 2011 was Mitch Bainwol (CEO) with $1.75 million a year with a working week of 50 hours. Current CEO Cary Sherman (then President) came in second with $1.37 million.
Other high income employees were Neil Turkewitz (EVP International), Steve Marks (General Counsel) and Mitch Glazier (Public Policy & Industry Relations) with $696,036, $675,528 and $599,661 respectively.
Looking at other expenses we see that the RIAA spent $2.3 million on lobbying, a figure that has remained relatively stable over the years.

RIAA Revenue Dwindles As Labels Cut Back

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Tiny Zombie

Oh noes!
Cocomaan

I’ve found that people who use services like Spotify no longer need to pirate.
BillGlover

That $2.3 million in lobbying is an interesting number. If we assume that the MPAA matches it, then that still implies that you can hire the US government as your personal protection racket goons for pretty cheap.

Organized crime is doing it wrong.

It also implies a coalition of citizen’s rights groups might be able to match them.
nixiebunny

Next they’ll have to outsource their call center to India.
- Conan Librarian
  
  “Next they’ll have to outsource their call center to *UK Prisons*. ”
  
  FTFY
Conan Librarian

Good work everyone! We are wearing them down.
Ryan Lenethen

More like they don’t need the staff as they are currently working within the political system, or are contracting out the lobby to politicians anyway. No need to continue bugging (lobbying) politicians when they are already bought and paid for. More efficent that way. Why bother arguing in court with lawyers, just have a politican change/create new laws that give you all the power you need. Its not like they are going to list the politicians that are currently on their staff more less. Besides there is also probably a tax dodge by contributing to a political campagin than to actually pay a salary.
franko

hooray! half way there?
groves

“Dinosaurs will die…”
msbpodcast

Well, the record execs have realized that their adversarial position of “Us versus the world” and “We dont care if we’re suing our own best customers have not been halting their revenue free fall.

But they can at least cut down on expense waste by doing away with the **AA bills, (since they were costing them even more is lost sales that they were costing them in fees.)

Doing away with DRM and senseless litigation is a win-win proposition for them.
noah django

yeesssss…. we will slowly choke the life out of them

http://paxtonmetals.com/wp-content/uploads/2010/09/good-good-otter.jpg
emo hex

I’m sure they can raise funds by turning in seat belt scofflaws.