No question that Netflix has a responsibility.
For the first time in its history, Netflix has decided to establish a production company outside the United States. In those circumstances, the review provisions in the Investment Canada Act were triggered. What we have also been able to do is obtain guarantees from a foreign investment company in Canada, while all the existing legislation does not allow us to go and seek funding for digital platforms generally.
The current act contains no mechanism that allows us to seek that money. That is why we are amending our legislation, but it is also why we have introduced a transition plan. We ratified an agreement for an investment of $500 million over five years. Regardless of the tax credits that the company may subsequently receive as a result of a coproduction agreement with a Canadian company, the investment remains at $500 million.
I am equally convinced that francophone producers, with their great skill and the high quality of their content, will be able to get their piece of the pie. Essentially, what I hear from francophone and Quebecois producers is that discussions about the platform have already begun.