That's roughly our estimate as well; that's approximately what the exceptions may cost creators and publishers. A portion of those losses is definitely hard to quantify because the result will be a decline in book sales that is still hard to calculate. However, the royalties currently collected by COPIBEC and Access Copyright, as well as by other collectives, such as ERCC, will definitely disappear or are at very high risk of disappearing.
On December 6th, 2010. See this statement in context.