Chris Cocks

So I also think you have to think through that.

I really think it's just kind of this classic kind of equation of, hey, your input costs are X, your output is Y. How do you make sure...

the ratio between X and Y is acceptable for the risks that you take because any given video game has a 20%, 30% chance of being successful.

So you've got to be able to cover a whole bunch of unsuccessful bets inside of whatever you invest.

Yeah, they had resources in Eastern Europe and Europe and Canada.

They had them all over the world.

When we think about digital games, we think about, okay, what does the audience want?

What brands do we have and capabilities do we have that we feel is relevant to those needs?

And then what's the best way to kind of build that capacity?

We decided that, you know, we had really relevant brand and IP and kind of design sensibility and communities to hardcore role playing games and action adventure games.

And then inside of and card games, of course, from Magic.

And so we decided, hey, those kind of make sense for us to execute, but it's going to take time for us to execute it.

So as we kind of build that capacity, how do we, we have a lot of brands that are relevant.

How do we partner with some of the best in the business to go execute on our behalf while we kind of build our capacity and build our learning to be able to do that?

And I think Baldur's Gate 3 and what we did with Larian was a fantastic example of that, probably best in class example of that.

And then on an ongoing basis, since we're going to focus on more hardcore gamers and these kind of more traditional PC and console audience genres like role-playing games and action-adventure,

You know, that covers maybe seven, 800 million gamers, but there's probably 3.5 billion in the world.

What can we do to kind of appeal to those other 2.8 gamers around the world?

And that's really where our licensing team comes in.

So we've got the biggest digital licensing business in the world by probably, I think, a significant margin.