RIAA Spent $64M to Win $1.4M From Pirates Between '06 and '08

jmke · 14th July 2010, 17:11

In the infamous Recording Industry Association of America's (RIAA) 2008 IRS tax filing, the organization revealed the stunning financial futility of its battle against piracy. The document[PDF], obtained by P2PNet, reads like a lawyer's dream and like a financial officer's worst nightmare.

At the end of the day, 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 claims against music pirates. That's a total of over $17.6M USD. And there were more law firms listed -- those were just the top three fees.

In return, it received a mere $391,000 USD in compensation from its pirate victims. In other words -- the RIAA spent over 45 times on lawsuits and threats than what it received in return.

http://www.dailytech.com/RIAA+Spent+...ticle19034.htm

blackened · 14th July 2010, 18:48

I bet that 64million they spend will be included in the amount of money they keep insisting they are loosing due to piracy.

14th July 2010, 17:11	#1
jmke Madshrimp Join Date: May 2002 Location: 7090/Belgium Posts: 79,022	RIAA Spent $64M to Win $1.4M From Pirates Between '06 and '08 In the infamous Recording Industry Association of America's (RIAA) 2008 IRS tax filing, the organization revealed the stunning financial futility of its battle against piracy. The document[PDF], obtained by P2PNet, reads like a lawyer's dream and like a financial officer's worst nightmare. At the end of the day, 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 claims against music pirates. That's a total of over $17.6M USD. And there were more law firms listed -- those were just the top three fees. In return, it received a mere $391,000 USD in compensation from its pirate victims. In other words -- the RIAA spent over 45 times on lawsuits and threats than what it received in return. http://www.dailytech.com/RIAA+Spent+...ticle19034.htm __________________

14th July 2010, 18:48	#2
blackened Member Join Date: Feb 2009 Posts: 79	I bet that 64million they spend will be included in the amount of money they keep insisting they are loosing due to piracy.