Thursday, July 15, 2010

An afterthought about the RIAA's financial "disclosures"

The amounts of money the RIAA spent on legal fees from 2006 to 2008 -- approximately $20,000,000 per year -- were in the ballpark with my estimates (I'd estimated $15,000,000).

But the amounts collected from the settlements were not; they were far lower. I would have expected the RIAA to have been collecting in the neighborhood of $5,000,000 per year during that period, rather than a mere $450,000 per year.

What if my estimates were correct, and 90% of the moneys collected were siphoned off to the Big 4 record labels who were the plaintiffs?

If so, it would mean the RIAA was spending general membership money to help just a few of its members.

But that would raise problems with

(a) the Internal Revenue Service, and

(b) the RIAA membership.

So it must not be the case. Right?

Just askin'.

If the RIAA lawyers out there could clarify this for me, I'd appreciate it. I understand the ABA Journal has asked you to comment, but you haven't responded yet.

Commentary & discussion:

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