Music piracy is a $4.6 bln industry

International Federation of Phonographic Industries says in 31 countries bootlegs outsell the legal music. Sales of bootleg music reached $4.6 bln in 2004. 1.2 bln pirated music discs were sold in 2004, 34% of all sales. Musical piracy grew 2% in 2004, the smallest increase in five years. But the number of pirated discs is still double that sold in 2000. In Latin America, the market for legally recorded music is two-fifths of what it was in 1997. In Paraguay, 99% of CDs sold are bootleg. In Asia, excluding Japan, the legal market is half what it was in 1997. China is by far the world's largest pirate market, with an 85% bootleg rate.