—we need to be clear that what we're talking about here is the use of intellectual property. We have to decide as a country if we want to remunerate the rights holders for the use of their work. If we do, there are lots of ways we can do it. The private copying regime is essentially the best system that anyone in the world has come up with to best approximate the value of that use of the right is. Some people talk about it in terms of lost income, but, frankly, it's income that's earned by rights holders in intellectual property for the use of their work. I've been trying to come up with a good analogy. I'm not sure how good this is, but I'll try it out on you.
On June 14th, 2018. See this statement in context.