Funding needs are huge.
The business model for streaming is designed for huge markets.
In Quebec, we have always been able to allow artists to have careers in Quebec and to earn a living from what they do.
Artists have the desire and the ability to have international careers. That's really good, and they must be encouraged, but we have always had artists who were able to make a living from their music on our territory. We are always proud to say that 84% of the Quebec music industry's revenue is independent. That's really special in the cultural sector. We have been able to support artists in our local market.
In the case of streaming, that simply does not work right now. We need new funding to be injected to support the production and marketing of our music, as independent revenues are decreasing and traditional radio broadcasters' revenues are also slowly decreasing. Our radio market is very consolidated, and commercial radio revenues are slowly dropping. They are not increasing. All the revenues in the music industry are decreasing right now, not taking into account the two years of the pandemic.
New funding to support French-speaking businesses and independent artists in Quebec will help our ecosystem persevere, so that the wheel can keep turning.