RIAA Spent $17.6 Million In Lawsuits... To Get $391,000
Found on Techdirt on Tuesday, 13 July 2010
Ray Beckermann has done some digging and is pointing out just how big a money pit it really was. In looking through the RIAA's financial statements, he notes over $17.6 million spent on big name law firms who were the key players in the lawsuit campaign. And all those settlements? In 2008, they brought in $391,000.
Over a three year period, the RIAA spent over $64 million on this lawsuit campaign... which brought in about $1.4 million in settlement money. We're talking about getting back about 2% of the money spent.
The entertainment industry is unable to face new times. Not that I really care, because it's good to see that they are destroying themselves. Filesharers don't harm the potential income; in fact, they increase it as several studies have shown (well, those not funded by the industry).