No one's seen that deal because it's a cabinet secret under the Investment Canada Act, so I can only speak to the press announcements that you talk about. Canadian broadcasters that are licensed by the CRTC have something called a Canadian programming expenditure requirement. It's typically set at about 30%. Netflix makes about a billion dollars in Canada. Their Canadian programming expenditure requirement is zero, so the government tried to say that they were bringing them into the regime. In fact, what we've learned is that this is $500 million over five years. It's not $500 million new dollars.
They invest in Canada already, so we may have actually done this deal for zero new dollars. This is money that should go back into the production ecosystem. Potentially, there are opportunities to do things like telling Netflix that they have to spend money here to produce shows and that those have to run for the first two weeks on the CBC.
There are ways for us to finance public broadcasting creatively and to work with these platforms without costing the government money.