Anti-piracy agency Rightscorp, which counts BMG as one of its main clients, has published its latest financial results. The company’s revenues grew 187% year-on-year to just under $940k in 2014, but it spent $4.3m getting that income, leading to a net loss of $3.4m for the year.
Rightscorp spent more in administrative costs – $1.1m – than it made in revenues, while the combined salaries of its CEO and CFO were $504k alone. The company may have settled more than 180,000 cases of alleged copyright infringement, but its financial situation led even its own auditor to conclude that there is “substantial doubt about the Company’s ability to continue as a going concern”.
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