Chris Cocks

They watch all these kinds of influencers.

And the whole notion of like Saturday morning cartoons or even just watching cartoons after school on a linear network has totally flipped upside down.

You know, I think as a toy company, you have a choice.

You can either kind of double down on that market and try finding, you know, these big entertainment moments that really punch through.

Or you can try finding kind of like a different market to be able to appeal to and build like a more durable mode in those spaces.

And I'd say we have been doing both.

We certainly license with a bunch of huge kind of mega brands.

We just announced Harry Potter.

We do K-pop Demon Hunters.

We announced Voltron and Street Fighter.

The Walt Disney Company we've been in business with since 1954 with Marvel and Star Wars.

So we do a lot that appeals to kids.

And then we have some of our own house brands like My Little Pony and Peppa Pig and Transformers.

But increasingly, I think we're choosing to, you know, invest our capital and some of our best talent in kind of that older audience where you can build a play system where you can establish more kind of strategic brand moats and distribution moats.

And it's a little harder for new competitors to edge in.

And the brand loyalty tends to last a bit longer than the attention span of a typical four-year-old.

Oh, yeah.

Netflix did their credit, shopped that around quite a bit, and no one bit.

And I remember it was the weekend it came out and, you know, I'm an old business person.

So I was like flipping through LinkedIn and someone was posting about K-pop Demon Hunters is like not only my daughter's favorite show, but it's my favorite, my favorite new movie of the year.