The RIAA has submitted its latest Form 990 tax filing to the IRS, which details the organization's precipitous shelving off in budget and employees (though the execs gave themselves fat raises):
The drop in income can be solely attributed to lower membership dues from the major music labels. Over the past two years label contributions have dropped to $23.6 million, and over a three-year period the labels cut back a total of $30 million, which is more than the RIAA’s total income today.
The cutbacks are not immediately apparent from the salaries paid to the top executives. RIAA Chairman and CEO Cary Sherman, for example, earned $1.46 million compared to $1.37 million the year before. Senior Executive Vice President Mitch Glazier also saw a modest rise in income from $618,946 to $642,591.
...The reduction in legal costs is even more significant, going from to $6.4 million to $1.2 million in two years. In part, this reduction was accomplished by no longer targeting individual file-sharers in copyright infringement lawsuits, which is a losing exercise for the group.
Looking through other income we see that the RIAA received $196,378 in “anti-piracy restitution,” coming from the damages awarded in lawsuits against Limewire and such.
RIAA Makes Drastic Employee Cuts as Revenue Plummets
Paul Fuog pieced this together out of 15 TED talks: it’s pretty great, except what’s with the low-energy narration? It’s not very TED-like.
Warner Bros has sued talent agency Innovative Artists for running an internal-use Google Drive folder that let its clients and staff review movies in the course of their duties. They say the company ripped “screeners” (DVDs sent for review purposes) and put them on the server, whence they leaked onto torrent sites.
The Dirty Cow vulnerability dates back to code included in the Linux kernel in 2007, and it can be trivially weaponized into an easy-to-run exploit that allows user-space programs to execute as root, meaning that attackers can take over the entire device by getting their targets to run apps without administrator privileges.
Geek Fuel is a subscription delivery service that caters to those of us that love comics, gaming, and general geek culture. Every month, Geek Fuel will assemble a box of goodies with a value of $50 or over. The specific items are a mystery, but you’ll always get an exclusive t-shirt not found anywhere else, a full […]
If you like to DIY and you like helicopters, you’re going to really love the Flexbot Hexacopter Kit. This copter blows traditional models out of the water: it includes everything you need to actually build your own hexacopter, and then pilot it like a pro, too.The construction is complicated enough to give you a challenge, […]
This week’s top deals from the Boing Boing Store range from lobster to wine to desk organization. 1. Get Maine Lobster (50% Off)With these discounted packages from Get Maine Lobster, you can experience the sweet, fresh flavor of world-renowned Maine lobster right at your own dinner table. There are four options to choose from, each at […]