Is the Recording Industry Association of America losing influence?
- $51.35 million in revenue was reported to the IRS by the RIAA for the 2009 fiscal year
- $29.1 million was reported for the 2011 fiscal year, a 43.34% drop in revenue source
» So, where did all the money go? Well, the company certainly hasn’t done much trimming when it comes to wages. After reporting $16 million in employee compensation during 2009, equal to 31.16% of their revenue, the company only shaved $3 million in wages by 2011. The company reported $13 million in employee compensation last year, equal to 44.67% of their revenue, including over $3 million in wages for the company’s two highest-ranking executives. Add in a $21.9 million drop in annual membership dues over the same two-year period — amid a fairly rosy 2011 for the music industry as a whole, which suggests members are departing or paying smaller amounts in membership dues — and the picture really starts to come together. So, how much longer do you think the RIAA is going to last?