The International Federation of the Phonographic Industry (IFPI) has issued a report indicating that worldwide music piracy hit a record of 1.1 billion discs valued at a loss of approximately $4.5 billion in 2003.
The IFPI's Commercial Piracy Report said that music piracy is a business driven by organized crime, government apathy, and corruption.
IFPI CEO Jay Berman estimated that the sale of illegal music discs rose four percent in 2003, and that an estimated 35 percent of all physical media music sales were illegal discs.
China, according to the report, is the world's worst offender, with an estimated 90 percent of the music discs and tapes sold there being illicit. Russia, Brazil, Mexico and Spain make up the rest of the top five illegal global music markets.
For more information, visit www.ifpi.com