too "political cartoony", what with the RIAA logo. Also, it looks like the dog's head was cleanly severed by a bunch of bubbles, or perhaps the gramophone is in self-cleaning mode. You could do a good piece about loud music, but make it look like the dog's head was blasted off, not surgically removed.
mtths: I think that's the point. it's a parody of the old RCA Victor ad, where the point is that the recording is so clear the the dog hears "his master's voice".
Given its resemblance to the RCA logo, yes, it's undoubtedly a copyright issue, unless you can make a case for parody. Of course, you can only make such a case AFTER they sue you. Still, I agree, it's hilarious, and really well designed.