The jury decision amounts to $80,000 per song.
Thomas was found guilty of similar charges in 2007 and fined $220,000 in damages. But that verdict was thrown out because an error in jury instructions, paving the way for a retrial and Thursday's ruling.
Rock Daily reports Thomas used peer-to-peer network Kazaa to download the music.
The recording industry says it's willing to settle with Thomas, but it hopes the verdict and fine will send a message to others tempted to illegally download and share music.
Thomas' attorney says he plans to appeal the case.