The Recording Industry Association of America has dropped 50% in profit over the last two years.
The reason for the decline is because many major record labels are consolidating and cutting budgets for intellectual property theft. Recently the R.I.A.A. stopped it’s fight against individual file sharers and started focusing on shutting down bigger sites like Megaupload.
While their profits have dropped R.I.A.A. executives are still making big dollars. Reportedly CEO Cary Sherman made 1.37 million last year while executive vice president Mitch Bainwol made 1.75 million.
Leave a Comment