THE $2 MILLION DOLLAR MAN
According to 2008 federal tax filings acquired by the news site, the trade org’s chief exec Mitch Bainwol pulled in more than $2 million in salaries and bonuses.
Bainwol made $1.91 million in annual pay, with “other compensation” from “related organizations” adding another $123k to his total.
Just two years ago, in 2006, Bainwol raked in $1.5 million, according to tax filings reported by DMN.
The site also discovered a handful of execs at SoundExchange, including soon-to-be ex-head John Simson, making more than $350k in 2008.
Major labels are picking up the tab on Bainwol’s salary even as their own revenues continue to drop.
Other reported RIAA salaries during the same period include President Cary Sherman ($1.3m), EVP International Neil Turkewitz ($696k), EVP Government and Industry Relations Mitch Glazier ($566k) and EVP/General Counsel Steven Marks ($562k). In addition, there are seven other staffers with compensation ranging from $200k to $500k.
Maybe these high-priced industry lobbyists can get the ISPs who host illicit file-sharing site to sit down at the negotiation table. It would be the least they could do for the big bucks.
