From our industry's perspective, our revenue is from the sale of our intellectual property. The one thing I'll emphasize for the committee is that, again, the new technologies and the new business models emerging now--the streaming services, the online subscription services--all depend on TPM. So it's not just about CDs and format shifting. If you think about the video game industry, Electronic Arts has said that 50% of their business next year is going to be digital downloads.
We have to think beyond the current context and be forward-thinking in terms of how the technology will evolve in the coming years. TMPs are critically important to these new business models. They create more choice for consumers, lower prices, and more flexibility. New business models let people develop a range of different types of products to suit different types of consumers.
I can't underline enough how important TPMs are in creating the ability for businesses to make the decisions themselves. That's why you need strong protection in the law so that people can choose and the market can decide whether a business model is viable.