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Wednesday, 14 July 2010 13:02

Daft RIAA wasted millions

Written by Nick Farell
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To get $391,000 from pirates
The recording industry has sheeplishly admitted that it paid Holmes Roberts & Owen $9,364,901 in 2008, Jenner & Block more than $7,000,000, and Cravath Swain & Moore $1.25 million to chase only $325,000 worth of piracy cases. The RIAA said that it managed to get $3,900 from each pirate and only 100 settlements for the entire year.

It was better than the year before where the recording industry wasted $21 million on legal fees, and $3.5 million on "investigative operations" ... presumably MediaSentry. And recovered just $515,929. The year before it was $19,000,000 in legal fees and more than $3,600,000 in "investigative operations" expenses to recover $455,000.

In the three years since the RIAA declared war on P2P pirates it has spent $64,000,000 in legal and investigative expenses to recover around $1,361,000. They would have been more likely to get their money back if they had stuck the whole lot on a horse.

Last modified on Wednesday, 14 July 2010 17:25

Nick Farell

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Comments  

 
+9 #1 Fud_u 2010-07-15 02:04
Why don't they just paid all those illegal downloader to not download? That would eventual solve every problem.
 
 
+11 #2 nECrO 2010-07-15 05:52
They should forget going after downloaders and sue their management for blatant stupidity.
 
 
+6 #3 Aphex 2010-07-15 09:58
Even British Petrol shares have a better return on investment :lol:
 
 
+5 #4 hawknz 2010-07-15 10:51
Spending so much cash on chasing people instead of figuring out what they can do to improve the cashflow from the P2P software... For example for each song that is illegally downloaded to pay RIAA 10 cents or something like that.
It is crazy to manage so much music or to listen one of your favourite songs and having to buy the whole lot!!!
 

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