Thank you for that question.
According to SOCAN's figures, royalties paid to our members have declined by 24% since 2016. That's an enormous drop. We know that music publishers play an important role in developing talent and supporting author-composers in writing songs that can then become popular locally and internationally.
You have to understand that having a strong music industry and developing many and diverse talents gives us a chance to conquer bigger markets. Currently, as we've seen, all revenue is shared by a very small number of international artists. There's virtually no middle class because everyone is either too poor or extremely rich. There has been no egalitarian growth for everyone. It's the platforms that benefit most, and they don't do much for us.