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-   -   US record industry turns $16M in legal spending into $391K cash (https://gfy.com/showthread.php?t=977935)

Ethersync 07-14-2010 03:36 AM

US record industry turns $16M in legal spending into $391K cash
 
Quote:

Ha ha ha ha ha. RIAA paid its lawyers more than $16,000,000 in 2008 to recover only $391,000!!!

The RIAA's "business plan" is even worse than I'd guessed it was.

The RIAA paid Holmes Roberts & Owen $9,364,901 in 2008, Jenner & Block more than $7,000,000, and Cravath Swain & Moore $1.25 million, to pursue its "copyright infringement" claims, in order to recover a mere $391,000. [ps there were many other law firms feeding at the trough too; these were just the ones listed among the top 5 independent contractors.]

Embarrassing.

If the average settlement were $3,900, that would mean 100 settlements for the entire year.

As bad as it was, I guess it was better than the numbers for 2007, in which more than $21 million was spent on legal fees, and $3.5 million on "investigative operations" ... presumably MediaSentry. And the amount recovered was $515,929.

And 2006 was similar: they spent more than $19,000,000 in legal fees and more than $3,600,000 in "investigative operations" expenses to recover $455,000.

So all in all, for a 3 year period, they spent around $64,000,000 in legal and investigative expenses to recover around $1,361,000.

Shrewd.

No wonder they get paid the big bucks
http://recordingindustryvspeople.blo...s-lawyers.html

http://www.boingboing.net/2010/07/13...genius-us.html

seeandsee 07-14-2010 04:05 AM

so that is the reason they started with some nasty collecting tactics, asking zillions$ for movie download :)

kane 07-14-2010 04:13 AM

I don't think their plan was to ever make the money back on settlements, but to win some big cases and get some free press so that the word gets out letting people know if you download they will come after you.

I think their intention is that the money is worth it, if it prevents downloading in the future, but clearly that isn't working either.

It is a brave new world. If you create content you just have to accept that a certain percentage of the population is going to take it for free.

MrBottomTooth 07-14-2010 06:34 AM

This explains why they basically abandoned going after end users now.

Will be interesting to hear how the US Copyright Group does with its Hurt Locker and other movie lawsuits.

Don't see why any content providers would sign on with them after seeing how poorly the RIAA did.

ottopottomouse 07-14-2010 08:19 AM

Pretty much the same as any big legal action though in that the lawyers always come out of it the best.

D Ghost 07-14-2010 10:34 AM

So all in all, for a 3 year period, they spent around $64,000,000 in legal and investigative expenses to recover around $1,361,000.

And I thought piracy was killing the record industry, apparently it's legal fees... hahahahahah ahahahahahah

sortie 07-14-2010 11:09 AM

Hahahaha! At people who don't realize how much money they will make in the future
by destroying illegal downloads.

The music industry isn't looking for any money from a bunch of broke ass uploaders.
They are looking to "fuck up" the uploaders; which they have done.

Any of you broke MoFo's got $3k to blow on some illegal downloads?

crazytrini85 07-14-2010 11:17 AM

Should have time shifted.

Dirty Dane 07-14-2010 11:34 AM

Hard to measure how much they have prevented, but probably more than their expenses. :2 cents:

PenisFace 07-14-2010 11:57 AM

Quote:

Originally Posted by sortie (Post 17334921)
Hahahaha! At people who don't realize how much money they will make in the future
by destroying illegal downloads.

The music industry isn't looking for any money from a bunch of broke ass uploaders.
They are looking to "fuck up" the uploaders; which they have done.

Any of you broke MoFo's got $3k to blow on some illegal downloads?

So long as the internet exists, you will never, ever be able to stop or prevent illegal downloads. It just won't happen. I still say the RIAA is wasting money, because things will never go back to pre-internet.

sortie 07-14-2010 12:40 PM

Quote:

Originally Posted by PenisFace (Post 17335081)
So long as the internet exists, you will never, ever be able to stop or prevent illegal downloads. It just won't happen.

That part is Absolutely true!!!!

It'll be just like the war on drugs except with an IP address to actually fuck people up.

:1orglaugh


Don't do the crime if you can't do the time will be the new rapidshare motto.


:1orglaugh

maxpower 07-14-2010 01:14 PM

YOu can not turn back time, if you knock out one, three more will pop-up and will be even worse.

They no longer have any real rights to their products ones they are released, in every other country in the world these copyright issues are Not endorsed by even their governments.

You can not put the Genie back in the bottle, and its way to late to even try.

All you can do is just accept the fact people will no longer pay for products of this type.....

RIP





,

SykkBoy 07-14-2010 01:28 PM

yup, just face the facts, if you actually take the time to produce or create something that some broke ass bitch will come along and take it as their own because they think the $30 per month they spend on their internet connection allows them the right to not have to pay for shit...


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