Andre Yoskowitz
24 May 2013 22:31
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.