The RIAA has just submitted its latest tax filing to the IRS, covering the fiscal year ending March 31, 2014. Time for us to see where the music industry’s anti-piracy arm stands.
In previous years the RIAA reported a massive decline in revenue after the record labels cut back on their membership dues, but this trend now appears to have stopped.
Total revenue according to the latest filing is $24.2 million, a slight increase from $24.1 million the year before. Despite the stabilizing income, which mostly comes from the record label’s membership dues, the RIAA continues to trim employees.
Over the past five years the number of employees at the RIAA has been slashed in half, dropping from 117 to just 55.
In its most recent filing the RIAA lists 55 people on the payroll compared to 58 the year before. In total these employees earned $11.7 million of which more than 25% went into the pockets of three top executives.
Interestingly, while more than half of the organization’s workers have been let go, the RIAA’s top employees have enjoyed salary increases year after year, including some healthy bonuses.