Industry committee  Well, I personally think it should be a fund.

Industry committee  Not if you want to compensate, no.

Industry committee  This is the first I've heard of it. I have no idea.

Industry committee  I don't know, but it sure sounds complicated to me. I think that the beauty of our proposal—and it is an industry-wide proposal—is to simply employ a fund. Cut the Gordian knot, make it simple, and come up with a solution that is palatable, that doesn't immediately impose any b

Industry committee  While we sort this out.

Industry committee  When these private copies are made.

Industry committee  Correct me if I'm wrong, but I thought that was the Liberal Party platform.

Industry committee  The number?

Industry committee  I think that's an estimate of what the number would look like if a levy were imposed.

Industry committee  It would look something like that.

Industry committee  Yes.

Industry committee  I don't think the government should be getting involved in price setting or instructing people to pay this price or that price. I think what the government has to do is to remove the marketplace advantages they gave to entities like Google and YouTube. They gave them advantages b

Industry committee  Yes, because in the case of the safe harbour, if they don't like our price, they can say to us, “Fine. There's no deal. Take your content down.” If the legal content comes down, the illegal content will go up, and it will still be available. That's the bad old world that we wer

Industry committee  Absolutely. You have to think of a copyright as an income stream that stretches out into the future. You can value—like there's a business—the income stream that a given set of copyrights would throw off. If I were to extend the term of my rights in that copyright by 20 years,

Industry committee  Correct, or when you sell it, suddenly it's like I'm not selling you life plus 50 anymore, I'm selling you life plus 70, and that has a greater value. There's an immediate tangible impact on the value of catalogues.