RIAA Seeks To Reduce Royalty Payments

Tinfoil writes: "In a move to make themselves more popular, the RIAA is seeking to reduce the royalty rate paid out to recording artists. "During the period when piracy was devastating the record industry, the RIAA argues, profits for publishers rose as revenue generated from ringtones and other innovative services grew. Record industry executives said there was nothing strange about seeking a rate change that would pay less to the people who write the music." Of course, that piracy may have been largely averted had the industry adopted new technology much sooner."