Global CD piracy trade tops $4.5 billion

Music piracy pricetag: $4.5 billion : "Study: Over 1 billion illegally copied CDs sold in 2003; 1 in 3 discs purchased was pirated.More than one out of every three music compact discs bought by consumers in 2003 was pirated, according to global trade body the International Federation for the Phonographic Industry (IFPI).

And at $4.5 billion, the pirated music market represents nearly 15 percent of the worth of the global record music market, the IFPI estimated.

The IFPI named its top ten offending countries in its annual report, including G8 member Russia and Spain, the only European Union entry on the list.

Other perennial hot spots on this year's list were Brazil, China, Taiwan, Ukraine, Thailand, Mexico, Paraguay, and first-time entry Pakistan, which replaced Poland.

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