Nicole Sperling

Yes, that is correct.

Yes, and it's the giant.

It is the one that has transformed the movie industry.

Netflix was the upstart.

It was the disruptor.

And when they came in and started streaming content, it has prompted every other studio in town to start their own streaming business, to take on their own loads of debt in order to create this huge infrastructure.

And they have not been able to do it as well as Netflix has done when it comes to acquiring subscribers all over the place.

They also have the ethos of they have to constantly grow.

Right.

And they are constantly going into new areas of business.

They went into games.

They started an advertising tier.

And they are constantly in that growth mindset.

And now they feel that the best way to do so is to acquire this storied legacy studio that has an incredible library of content that Kyle mentioned earlier.

Right.

And to exploit that content in the ways that only Netflix can.

They have the best optimization.

They have the best tech.

They can do things with content that the other streaming services can't do.

Well, it will initially give them additional subscribers when you include the subscribers from HBO Max.