Spectrum refers to the radio frequencies that are used to transmit wireless signals. It's the air around us. That sounds a bit magical, but that's what it is. Essentially, whether it's satellites, your smart phone or your Wi-Fi at home, if it's wireless, it uses spectrum. At ISED, we try to manage the traffic. There's a lot of data being transmitted over these wireless airwaves, and sometimes the best way to manage that traffic to avoid interference is to have a licence and to give a licence to someone.
We have a licence that gives exclusive use over a specific spectrum band in a specific market. That person can then use that spectrum band to transmit over a number of years. That's what we call licensed spectrum. The telecommunications industry—the wireless industry—makes use of a lot of that licensed spectrum.