Recorded music shipments in Greece fell in value by 8.6% to €56 million ($69.5 million) in 2003, down from €61.3 million ($76 million) the previous year, according to the local IFPI affi

Recorded music shipments in Greece fell in value by 8.6% to €56 million ($69.5 million) in 2003, down from €61.3 million ($76 million) the previous year, according to the local IFPI affiliate.

Total unit shipments dropped 6.8% to 7,147,280 units. According to IFPI Greece GM Ion Stamboulis, the effects of physical piracy have seen the value of the Greek music market fall by 25% over the past three years.

"If this uncontrolled situation persists, the future of Greek song is bleak," says Stamboulis, who claims that the piracy problem is not being tackled with sufficient vigor by the Greek authorities.

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