RIAA gets budget slashed

The RIAA, which became famous after trying to sue file-sharing grandmothers, is facing a 50% budget cut and will lose 40% of their staff. Basically it looks like the music labels have realized that the RIAA was wasting money and has now cut back how much they will give them. Techcrunch has more details.

RIAA’s budget comes from music labels and distributors. In theory it represents the interests of the music industry. Therefore, it depends on their willingness to pay them to represent music in all its forms. That’s not going so well.