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
Fresh Comfy is a Thai scarf-seller whose gauzy chiffon scarves come screened with motifs from literary classics, in a variety of finishes (grey, black, off-white, full color): Anne of Green Gables cover; Harry Potter Marauders’ Map; Map of Middle Earth; Pride and Prejudice cover; the Cheshire Cat; Romeo and Juliet title-page; Sherlock Holmes engravings; Alice […]
Solid Oak Sketches has filed copyright registrations in the tattoo designs that decorate the bodies of some of basketball’s biggest stars (LeBron James, Kobe Bryant, Kenyon Martin, DeAndre Jordan, Eric Bledsoe, etc), and has sued Take-Two Software, maker of NBA 2K16 and other basketball video games, for reproducing tattoos as part of the likenesses of […]
Rheney Williams, a former attorney from Charleston, SC, sells a line of unofficial Disneyland-scented candles themed after the rides, food, and environments of the park.
Plastic is so 2013. You don’t want to buy something only to throw it away or lose it and barely care. You like nice things and want to hang onto them. The Plazmatic lighter here is a high quality, high tech alternative to the typical cheap, plastic lighter you get at the old gas station. […]
Real engineers build things. Super cool engineers build things with their hands and fingers, like our engineering forefathers did. No idea where to even begin to do that? This step by step Arduino course is now 92% off and is going to get you up and running, from zero to hero, in no time. So […]
How do Google and YouTube really work? It turns out, Python kind of runs things around those parts. And with this bootcamp, you’ll get whipped into shape and ready to start programming yourself. Whether you’re a Python pro and just want to sharpen your skills, or a total tech newbie with little or no coding […]