I came across this blog post which estimates that the RIAA could make over 3 billion dollars a in their first year of lawsuits. The author comes up with this figure by estimating that of the 200 million adults in the U.S., 15% are threatened by lawsuits from the RIAA. Of that 15%, if just 5% settle, with an average settlement of $2000, this would result in over 3 billion dollars of settlement revenue. This amounts to 1/3 of the revenue for the entire recording industry.
The RIAA's crackdown has gone way overboard. This article is a sobering reminder of just how overboard they have gone.
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