RIAA paid its lawyers more than $16 M to recover $391K!
RIAA paid its lawyers more than $16,000,000 in 2008 to recover only $391,000!!! http://bit.ly/9jR8D8
Rather than actually work on a new business model to replace the one that served the labels well when distribution was by physical (and therefore limited/scarce) goods, but instead of facing the inevitable the RIAA has tried to sue its fans out of existence and lobby for changes to Copyright Legislation to support a business model that has been obsoleted by a market and technology that’s simply moved on.
It’s worth noting that, while the recorded-music-on-physical-media business (the only one the Record Labels are in) is dying, the overall music business has never had it better. Ditto the movie business. More music and movies being made than ever; more people making decent livings off their music or movie making than ever.
But one business model – like the buggy whip, lamplighter, Linotype operator, et. al – is becoming superceded. Unless they adapt dinosaurs like the RIAA and MPAA members will dies. And it cant’ be soon enough for my taste.
The 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 its “copyright infringement” claims, in order to recover a mere $391,000. [ps there were many other law firms feeding at the trough too; these were just the ones listed among the top 5 independent contractors.]