Thank you for the question, MP Nater.
I would begin by saying that every program that is produced in Canada contributes to the overall health of the Canadian AV ecosystem by training skilled workers and developing infrastructure. We also sometimes tell stories, as I mentioned, whether it's Barkskins, Turning Red or Washington Black, that are truly Canadian, but because the Walt Disney Company owns the intellectual property, even if with the significant talent you could meet the points system under the definition of Canadian content today, it could not qualify as Canadian content.
Ironically, on the other hand, there may be content produced in the United States that does not tell a Canadian story, but that, nonetheless, because it meets the points system with the particular high-level creative talent working on the program, would constitute Canadian content because it is perhaps owned by a company that has majority ownership by Canadians.
What we're calling for is a flexible system around Canadian content that allows each one of us to contribute to the AV ecosystem in a manner consistent with the service we offer. As I mentioned in my opening statement, Disney+ is unique in the video streaming space in that we largely and predominantly distribute our own proprietary content across the six brands that we own. Therefore, that means it's IP that we own. Given the nature of our business, there needs to be flexibility introduced into the definition of Canadian content, both to deal with the irony that I outlined but also to allow companies like the Walt Disney Company to maximize how we contribute to the Canadian AV ecosystem.
I think there can be a very simple fix in this. That is, there are several criteria set out in the draft legislation: IP ownership, creative talent that participates and creative story. No single one of them should determine what constitutes Canadian content. Flexibility can be incorporated into the definition.