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Entertainment

Submission + - MPAA and RIAA Budgets Severely Slashed

jones_supa writes: Despite the ever increasing threat of online piracy, tax records reveal that in a period of three years the major Hollywood movie studios cut their payments to the MPAA in half. As a direct result the budget of the movie industry group reached a new low of $49.6 million, causing wage and legal fee payouts to plummet. At the same time it can be discovered how the latest RIAA tax filing shows that their revenue has also reached a new low. In just two years the membership dues from music labels have been cut in half and have now sunk to below $30 million a year. While the two organizations have not yet received their final blow, they are definitely in a downward spiral.
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MPAA and RIAA Budgets Severely Slashed

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