RIAA Spent More Than $16 Million in 2008 To Recover Only $0.391 Million
By on July 15th, 2010

RIAA-Sucks If there is one thing that RIAA is famous for, it is suing people. Unfortunately for RIAA, their sue-happy policy doesn’t seem to be paying off. The Recording Industry vs. The People blog has uncovered that RIAA managed to recover only $391,000, after spending more than $16,000,000 in 2008 on litigations.

The statistics look even more dismal if you consider the three year period between 2006 and 2008. During this period RIAA spent more than $64 million and managed to recover only $1.3 million.

It’s ironic how a trust whose primary purpose is to look after the interest of artists is wasting money on litigations. The only ones benefiting from RIAA’s actions are the law firms. RIAA paid Holmes Roberts & Owen more than $9.3 million, Jenner & Block more than $7 million and Cravath Swain & Moore $1.25 million.

Well done RIAA!

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Author: Pallab De Google Profile for Pallab De
Pallab De is a blogger from India who has a soft spot for anything techie. He loves trying out new software and spends most of his day breaking and fixing his PC. Pallab loves participating in the social web; he has been active in technology forums since he was a teenager and is an active user of both twitter (@indyan) and facebook .

Pallab De has written and can be contacted at pallab@techie-buzz.com.
 
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