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The RIAA Spent $58 Million Suing File Sharers, Got 2% Back

Illustration for article titled The RIAA Spent $58 Million Suing File Sharers, Got 2% Back

How much of a failure was the RIAAs campaign of ridiculous lawsuits of file sharers? How does a 98% loss of a $58 million investment sound? That's good business right there.

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According to leaked tax forms from 2006-2008, the RIAA spent a whopping $58,258,394 on legal fees over the course of those three years, reaping $1,362,572 from accused pirates in return. Ouch.

But it was all totally worth it, luckily for them, as piracy is now dead and everyone is back to spending $18 for a CD that's half filler at their local Sam Goody. Oh, wait. [Recording Industry vs. The People via Paste Magazine]

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DISCUSSION

HAHAHAHAHAHAHAH!!!

*gasping for breath*

MUAHAHAHAHAHAHAHAHAHA!

HEHEHEHEHHAHAHAHEHEHEHAHHAHAHE...!

*gasp gasp gasp*

Heh.

That's what I call bad ROI.

How many new artists could have been funded with 57 million dollars?

Perhaps the could have spent that $16 million on innovating the record industry or better digital distribution systems... or even just buying a clue for the executives that think prohibition will ever work.

Don't get me wrong. I don't think it's right or fair to share music you haven't paid for, but I'm also well aware of how the current system isn't stopping this practice. People have always shared music; the proliferation of dual-cassette boom-boxes in the 80's should be evidence enough.

Hey recording industry: Here's a clue. Find a way to pay your artists that doesn't rely on draconian enforcement methods... or get out of the way while someone else figures out that you're completely unnecessary in today's economy.