As many other witnesses have mentioned today, we do not have a comprehensive cost-benefit analysis of the Trans-Pacific Partnership here in Canada so I really can't claim how much we will lose. New Zealand's government has done a full cost-benefit analysis, and on just the copyright terms alone, they estimate that it will cost $55 million a year for consumers, and that's in a country that's a ninth of the size of Canada. We've seen the potential cost to Canadians estimated in the hundreds of millions of dollars.
It's also worth nothing that—if I can use a brief example—this is killing Canadian business models. A couple of years ago a Beatles record came into the public domain, a recording of it, and a small company called Stargrove Entertainment started selling these public domain copies very cheaply. Unfortunately due to lobbying by Sony, which previously held the copyright monopoly, we saw the federal government extend copyright terms for sound recordings, just that select piece, for 20 years. Unfortunately it killed that Canadian business model. Not only are we going to see consumers suffer, but we're also going to see Canadian business models suffer, and we're potentially going to see artists and creators receive less revenue because in those alternative methods, the creators, the artists, the people who wrote the songs or whatever the art is, are actually still being compensated.