First of all, I don't believe that audiences are decreasing. The audience share of TV is relatively stable, if not increasing.
But let's assume, for argument's sake, that it actually happens. It's also a question of whether this is a temporary trend or a permanent trend, and there are several people in the industry who also believe this is a question of age. As you get older and have other responsibilities, you go more and more to television to be entertained. You don't want to interact, you don't want to choose, etc., you just want to click and say, “Please entertain me”. But when you are young and full of energy, etc., you love the interaction and you want it. I don't know whether it's true or not. We will see. Only time can tell.
Secondly, the market so far has not given any signal that television licences are less valuable than before. On the contrary, they have risen steadily. The latest transactions--for example, when you see what was paid by Bell for the CTV network--show a healthy increase. So we haven't seen that phenomenon yet.