May 23rd, 2011
Apparently, the way to make money in the music industry is to work at the RIAA.
According to Digital Music News, the non-profit’s IRS filings of 2009 (submitted 2/11/11 – better submitted late than never, I suppose) reveal a payout of over $16 million in “salaries, other compensation, and employee benefits.” Topping the list is President Cary Sherman who made a whopping $3.2 million in 2009.
The RIAA works to protect the intellectual property and First Amendment rights of artists and music labels; conduct consumer, industry and technical research; and monitor and review state and federal laws, regulations and policies. (See, www.RIAA.org for more info about the organization).