Financial results published by the Recording Industry Association of America (RIAA) show that the organisation is spending millions in legal fees to recover paltry amounts in damages.
A tax return (PDF) obtained by the p2pnet blog reveals that the RIAA spent over $16m (£10.4m) in legal and investigative fees suing file-sharers in 2008, and generated just $391,000 (£255,000) in legal settlements.
The cost of litigation in 2007 was $24.5m (£16m), and the RIAA recovered just over $500,000 (£326,000). In 2006 a $22.6m (£14.7m) outlay netted a return of $445,000 (£290,000).
The financial statement also shows that senior staff at the RIAA enjoy lavish
salaries. The chief executive earns over $2m (£1.3m) in salary and other
compensation, and the majority of top staff make over $200,000 (£130,000) a
The information sheds light on the general move by the RIAA away from individual prosecutions to targeting ISPs and governments.
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