US music industry body the RIAA has published its latest tax filing, which details its finances for the year ending 31 March 2011. They reveal that its revenues for the year were $29.1m, down from $51.4m two years earlier as labels cut their payments from $49.8m to $27.9m in that period. However, legal expenses fell from $16.5m to $2.3m as the RIAA axed its policy of suing individual filesharers. Long-time critics of the body are perhaps inevitably focusing on the salaries of its key executives, with then-CEO Mitch Bainwol taking home $1.8m in the financial year, and then-president (and now-CEO) Cary Sherman taking $1.4m.

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