The impact on the collective system will be serious. The revenues from the other sources are declining as it is, so combined it will really undermine the collective system.
The collective licensing system is actually extremely helpful and invaluable to the licensees because it's one-stop shopping, so to speak. It's a very efficient system.
In terms of what the broadcast system does for the Canadian music industry, it apparently is intended to be instead of paying royalties. All exposure, all grant systems, all specialty programs that help identify Canadian artists are really welcome, but they're not a substitute for paying royalties.
If I had to make a choice, I'd take royalties rather than grants.