Chris Cocks

And so...

You know, like I said, any individual game has probably less than a 50% chance of being in the money.

But when you hit, it hits well.

And our perspective, this is one of those businesses, like I referenced earlier, we don't think digital games is just a flash in the pan market.

We're going to be patient.

We're going to invest.

And if we lose money in the short term, we're going to build up our community, build up our capacity, and build up our ability to be able to execute with excellence.

And I think over time, it's going to be a difference maker for us and something that we're happy we invested in.

I think there's a ton of different ways to make money in video games.

And it's kind of publisher dependent and brand dependent.

The three ways that we do it.

First off, we have Magic the Gathering Arena, which is a fantastic extension of one of the biggest card games in the world.

People love it.

It's highly sticky.

It's been around since 2018.

It's a good, nice business for us.

We do it with digital licensing, working with some of the best people in the world.

That's super high margin, very high scale for us, helps us really propagate and drive reach for our brands.

And then we're selectively investing in publishing where we want to build that relationship with consumers.

And we're doing that with a more traditional business model.