No wonder RIAA boss Mitch ‘The Don’ Bainwol is smiling in the pic. According to IRS figures, in 2007 he was paid $1,485,000 for his services. But by 2008, the amount had rocketed — to $2,032,072, to be exact.
The wages of sin are high indeed.
RIAA is short for Vivendi Universal (France), Sony (Japan), EMI (Britain), and Warner Music’s (US, but controlled by a Canadian) misnamed Recording Industry Association of America.
“The Recording Industry Association of America (RIAA) is the trade organization that supports and promotes the creative and financial vitality of the major music companies”, it says blandly on its web page. “Its members are the music labels that comprise the most vibrant record industry in the world. RIAA® members create, manufacture and/or distribute approximately 85% of all legitimate recorded music produced and sold in the United States.”
To all intents and purposes, it’s operated by the four gigantic record companies which through their thousands of directly and indirectly owned subsidiary labels, separately and collectively control the corporate music industry, and everything to do with it read it all here
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