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
Kelly O’Dwyer is a politician from the Australian Liberal Party who sent Twitter DMCA notices that shut down an account that compared her to Sophie Mirabella, another Liberal politician who lost her seat in a landslide in the last election.
The European Union is in the final stage of deciding on net neutrality, and as it stands their proposal contains major loopholes that threaten the open Internet in Europe and around the world. BEREC, the EU regulator, is holding a final public comment period that will end on July 18.
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