Recording industry lobbied to tune of $1.5M in 1Q

Recs

0

The Recording Industry Association of America spent more than $1.5 million in the first quarter to lobby on copyright theft and other issues, according to a disclosure report.

As the main trade group for music recording companies, RIAA lobbied the federal government on legislation to strengthen U.S. laws against counterfeiting and piracy, including online theft of music. Piracy is one of the top issues for RIAA, which says music theft results in $12.5 billion annually in terms of lost jobs and wages, tax reeves, personal income tax and lost corporate income and production taxes.

The trade group also lobbied on proposed legislation to limit fees charged to Internet radio stations for music broadcasts, higher education bills and protection of federal data.

RIAA members include Warner Music Group Corp. and Sony BMG Music Entertainment, a joint venture between Sony Corp. and Bertelsmann AG.

In the January-to-March period, the trade group lobbied Congress, the U.S. Trade Representative's office and Justice Department, according to the report filed April 21 with the House clerk's office.

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

TD AMERITRADE
more info
ShareBuilder
more info
Power E*Trade

more info
Scottrade
more info
Fool Disclosure

DocumentId: 655299, ~/articles/articlehandler.aspx, 12/1/2008 10:34:08 AM,

Sign up for FREE Motley Fool site access!

Already registered? Login Here

It’s FREE! Enter your email address, and we’ll rush you to the article you're looking for right now.

Privacy / Legal Information

We will use your email address only to keep you informed about updates to our web site and about other products and services that we think might interest you. The Motley Fool respects your privacy. Please read our Privacy Statement

.

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

What Fools Are Saying

Most Recommended

Market Summary

S&P 500856.25 -4.46%
DJIA8,486.87 -3.88%
NASD1,469.54 -4.30%
Updated: 10:18:25 AM
Sponsored by:

Related Tickers

Sony Corp (ADR)

CAPS Rating 2/5 Stars

$18.86

-0.52 (-2.68%)

Outperform1052

Underperform411

Rate This Stock