According to tax records, the RIAA has had to lay off almost half its employees and its revenue is way down. Uh oh, you know what that means, they'll have to start shaking people down again.
New tax records reveal that the RIAA has made heavy employee cuts after revenue dropped to a new low. Over the past two years the major record labels have cut back their membership dues from $33.6 to $23.6 million. RIAA staff plunged from 107 to 60 workers in the same period. The IRS filing further shows that the music industry group paid $250,000 to the six strikes anti-piracy system.