Thank you very much, Madam Chair.
Thanks to everyone for being here this morning.
My first question is for Mr. Moncada.
One of the biggest members of your association is Arts & Crafts Productions. I think this is a very interesting name for a label because this is precisely what a label stops doing, which is professionalizing the artist. I mean it in a very good way. The competition internationally is super industrial. It's not arts and craft artists doing things in their basement that is the big invader. Everybody is listening to the same stuff, discovering all sorts of stuff. There are many good things about it.
Since you are representing independent music labels, are there any nuances you would like to bring to the presentation by Music Canada? Of course, representing all American labels, they do have a good amount for budget and representation. They made a very good presentation and laid out some issues. Are there any nuances you would like to provide concerning what they said?