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RIAA forced to lay off employees after revenue drops again

Written by Andre Yoskowitz (Google+) @ 24 May 2013 22:31 User comments (6)

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.

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6 user comments

124.5.2013 23:14

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

This message has been edited since its posting. Latest edit was made on 24 May 2013 @ 23:15

224.5.2013 23:39

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!

324.5.2013 23:49

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.

425.5.2013 12:47

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.

This message has been edited since its posting. Latest edit was made on 25 May 2013 @ 12:51

525.5.2013 17:11

Bye bye, later, adios...

68.6.2013 19:12

OMG I feel so sorry for them. NOT

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