The American system is a completely different system. It's dominated by large studios, largely, and major broadcasters who are producing the content themselves, in some cases, or financing the content 100%. They have what's called a “service production industry”. So, basically, a broadcaster pays 100% of the budget of a show and the producer makes the show and gets paid fees. The broadcaster owns the rights to the show, and away you go. In the Canadian marketplace, broadcasters' licence fees cover only, on average, about 35% of the total budget of a show. The rest of the money comes from either government subsidies, in the form of tax credits from the Canada Media Fund, which is partly money that comes from consumers, or from foreign sales, from distribution advances, and from deferrals of their own fees. So it is a much different system.
If the Canadian broadcasters were paying 100% of the cost of production, then it would be a much different situation. But they're not. The producers take significant risk, but they don't share in the return as much as they should. So it's a completely different system.