Big hat tip to my friend Jon Newton at p2pnet.net for uncovering these documents.
The RIAA's "business plan" is even worse than I'd guessed it was.
The RIAA paid Holmes Roberts & Owen $9,364,901 in 2008, Jenner & Block more than $7,000,000, and Cravath Swain & Moore $1.25 million, to pursue its "copyright infringement" claims, in order to recover a mere $391,000. [ps there were many other law firms feeding at the trough too; these were just the ones listed among the top 5 independent contractors.]
If the average settlement were $3,900, that would mean 100 settlements for the entire year.
As bad as it was, I guess it was better than the numbers for 2007, in which more than $21 million was spent on legal fees, and $3.5 million on "investigative operations" ... presumably MediaSentry. And the amount recovered was $515,929.
And 2006 was similar: they spent more than $19,000,000 in legal fees and more than $3,600,000 in "investigative operations" expenses to recover $455,000.
So all in all, for a 3 year period, they spent around $64,000,000 in legal and investigative expenses to recover around $1,361,000.
No wonder they get paid the big bucks
Commentary & discussion:
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bomb the music industry
the present and future of post production business and technology
Southern Maryland Online
The Big Lead
Daily Online Examiner
Jaakko Koivula blog (Finnish)
Tech News Today 31
Inside STL (top "Fail" of the day)
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