Published Jul 14, 2010In recent years, music fans haven't always seen eye to eye with the Recording Industry Association of America (RIAA). The association has targeted online file-sharing, shutting down online services and even suing the downloaders themselves. Opponents of the RIAA will be pleased to learn that this lawsuit-friendly approach has cost the organization millions of dollars in legal fees and, in comparison, taken in very little money from all the court cases.
According to Recording Industry Vs. The People [via The Daily Swarm], the RIAA spent over $17 million on legal fees in 2008, but only recovered $391,000 in damages.
That year wasn't anomaly. In 2007, the RIAA spent over $21 million in legal fees and $3.5 million in investigations, recovering barely over $500,000. In 2006, the association spent $19 million in legal fees and $3.6 million in investigations, recovering only $455,000. All told, that's over $63 million in losses between 2006 and 2008.
Of course, this strategy might make sense as a deterrent if downloading were slowing down. As we all know, that doesn't to be happening, so the RIAA might want to consider a new strategy to address the file-sharing "problem."
In other news, p2pnet reports that the RIAA bosses got a raise in 2008. Yikes.