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