Chris Cocks

is, you know, building a relationship anchored in play and pretend and imagination with two, three, four year olds up to teenagers and then kind of never letting go.

We just keep giving them something that they want to collect, that they want to game with their friends, that they want to play with for an entire lifetime.

I'm kind of customer one on that superpower.

I've been playing with our stuff since I was two years old and I continue to play with it today.

I think kids are always the first handshake audience, the people that you want to build a relationship with as young as possible and kind of grow with them.

But I think just looking at the basics and the fundamentals of the addressable market,

There's less kids today being born today than there was 10, 20 years ago.

And there's more substitutions than ever.

So you've got a smaller base of children, especially in Western markets that we tend to distribute in, like the U.S., Europe, a lot of Asian countries.

And those kids start to shift decisively into video games and mobile phones and digital experiences at younger and younger ages.

So as an industry, you can either say, OK, I'm going to accept that my traditional market is declining, or you can say, OK, what else could I do?

And I think adults are kind of the natural space.

And it's not artificial.

I think going back to

you know, baby boomers, but certainly Gen X, millennials, Gen Z. We like to collect stuff.

We like to play.

It's how we socialize.

You know, when you talk to a group of millennials or you talk to a group of Gen Zers, you know, if you ask them, name your top 10 kind of brands, especially entertainment brands, you know, fully five or six of them, the majority of them are going to be either from video games or games in general.

So it makes sense that we would want to cater to that audience.

I think it's lucky for us and fortunate for us that a 26 year old has more spending power than a six year old.