AfterDawn: News

RIAA forced to lay off employees after revenue drops again

According to tax records, the RIAA has had to lay off many employees as revenues continued to sink.

It appears that over the last two years, the major labels have cut back their dues from $33.6 million to $23.6 million, causing the company to layoff 47 of its 107 workers.



The RIAA recently filed its 2012 fiscal year tax return with the IRS.

Besides membership dues, the company makes little other revenue, with total sales coming in at $24.8 million.

$196,378 of that came as "anti-piracy" restitution; awards for damages in lawsuits.

Written by: Andre Yoskowitz @ 24 May 2013 22:31

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• 6 comments

• GryphB

  Like crApple, I shall play the worlds smallest violin. I hope they hear it :P

  24.5.2013 23:14 #1

• nonoitall

  Originally posted by GryphB: Like crApple, I shall play the worlds smallest violin. I hope they hear it :P Don't do that! They'll sue you!
  

  me on the Dragon Ball Encyclopedia
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  24.5.2013 23:39 #2

• jjmehm

  Originally posted by nonoitall: Originally posted by GryphB: Like crApple, I shall play the worlds smallest violin. I hope they hear it :P Don't do that! They'll sue you! Yeah! Don't you know that they hold the rights to any and all music played on violins!? You better play them a song on the smallest accordion.
  

  24.5.2013 23:49 #3

• aldan

  lay any lawyers off? with less than 200,000 in damages collected and 24.8 million in total sales mostly from dues,it would seem there is no justification for their existence at all.
  

  25.5.2013 12:47 #4

• doowop72

  Bye bye, later, adios...
  

  25.5.2013 17:11 #5

• ibmeubu

  OMG I feel so sorry for them. NOT

  8.6.2013 19:12 #6