Greed: RIAA Wants to Cut Artist Royalties to 9%, Apple Wants Them at 4%, Artists Just Want to Eat
Yes, the RIAA doesn’t think the record companies are making enough and that musicians are clearly making too much. I mean, they get 13% now. Like they deserve 13% for writing and creating the music that people are paying for. Hogwash! Someone had to, you know, encode it. That’s worth at least 40%. And hey, these shoes don’t shine themselves! So they’re pushing to get that rate cut down to a shameful 9%, giving artists even less of a slice of the pie than before.
Of course, Apple, Napster and other large online retailers make the RIAA look like a charity in comparison, with Apple pushing to cut the royalty rate down to an insulting 4%. Yes, Apple wants artists to get a 4% of wholesale royalty rate. Really looking out for those artists, aren’t you Steve?”