Thank you very much for the question.
In the typical negotiation, particularly those that our smaller members encounter when they're negotiating with a streamer or a broadcaster, they are increasingly expected to essentially hand over all the rights to that piece of IP they have developed with Canadian creators and to the associated revenues. In certain cases, they're even asked to make an “organ donation”, to quote a former head of the AQPM, just to underscore the point.
What that essentially means is that over time it reduces our entire sector into a purely service-based industry, where essentially we're a branch plant of Hollywood, which of course is exactly why we have the Canadian Broadcasting Act and Canadian cultural policy—to prevent that from taking place.
Not only do we need to ensure we have rules that ensure reinvestment by the foreign streaming services into the Canadian industry, but we also have to make sure that the investment is fully leveraged so that producers are then able to hold on to some of their IP and the revenues associated with that and to reinvest those revenues in developing new great Canadian shows with Canadian creators. It's that virtuous cycle that we're trying to achieve through this proposed amendment of codes of practice.
Erin, could you speak a bit to this as well, please, just in terms of the importance of having the ability to have those revenues to invest in future projects?