EMI May Cut Funding To RIAA, IFPI 158
Teen Bainwolf notes a report that Big Four record label EMI, which is under new ownership, is considering a big cut in its funding for the IFPI and RIAA. Each of the labels reportedly contributed over $132 million per year to fund industry trade groups, and EMI apparently believes that money could be better spent elsewhere. "One of the chief activities of the RIAA is coordinating the Big Four labels' legal campaign, and those thousands of lawsuits have done nothing but generate ill will from record fans, while costing the labels millions of dollars and doing little (if anything) to actually reduce the amount of file-sharing going on."
