Terms of trade help fairly rebalance negotiating power or level the playing field, given that streamers and broadcasters have tremendous negotiating power. It also helps Canadian companies own their own content, which drives growth, as Madame Messier has mentioned.
The terms of trade and the funding from streamers will enable producers to invest in new Canadian content, which is critical.
Let's talk about kids content for a moment. Our kids are Canada's future audience members. While Canadians used to be global leaders in the field of kid entertainment thanks to the broadcasters' obligations to Canadian content and children's programming, today there are few buyers remaining in Canada and far fewer opportunities for producers to produce this content than in the past.
The reality is that, combined with the climbing cost to produce, we as producers have no choice but to leave the country to get this type of content financed. In doing so, producers no longer have the leverage they once had when they were able to bring Canadian distributors and broadcaster financing to the table up front when doing deals. The result is that we really need terms of trade to help us ensure that we aren't forced to give away these long-term, valuable Canadian assets.
A perfect example of this is Paw Patrol. In The Globe and Mail, a Canadian Heritage stat came out a couple of weeks ago that said that, in 2019, Paw Patrol was responsible for 33% of the country's culture GDP. As you can see, it's tremendously valuable that we keep these assets.