The RIAA has submitted its latest tax filing to the IRS, covering the fiscal year ending March 31, 2012.
The figures follow the trend we spotted last year and show a massive decline in revenue for the music group. In just two years overall revenue has reduced from to $34.8 to $24.8 million.
For decades the RIAA has been the anti-piracy Bastion of the Music Industry, but the new numbers show that the group’s financial power is weakening.
The drop in income can be solely attributed to lower membership dues from the major music labels. …