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I pointed this out before, but the RIAA are nothing more than a group of lawyers that go after 'infringement' for the big record companies. 100% of all judgements and settlements they get go right into their own pockets. They are not collecting for monies the artists have allegedly lost, they collect for themselves and line their own pockets.
The record companies are ok with this, as it fits right into their business model. They have a quasi-police force they don't have to pay that go after any penny they think they can grab.
I am all for supporting artists, but the business model which record companies use these days is severely outdated and was set up to enrich a handful of owners at the top at the expense of the artists and fans.
Record companies operate pretty much in the same manner as a hedge fund or other investment.
They find say a dozen or so musicians they think might be popular and divy up all of their investment money to them. If an artist takes off, they will next year give them more money, but the reality is 90% of the artists they back fail and they lose that money.
They basically are throwing a shite load of cash at a wall and seeing what sticks. Of all of the multi-millions they bring in, they end up pissing away most of it on gambles, and then charge fans of popular artists exorbitant rates to cover their losses.
It's also like backing multiple horses in a race and hoping one hits it big.
Either way you look at it, there is a large amount of waste.
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