Nilay Patel

You're not the new CEO anymore.

You're just the CEO.

What is Hasbro to you today?

Can I ask you about that trend in particular?

I think

It's obvious to people who pay attention to toys.

It's maybe less obvious from the outside.

But the idea that toys are now a thing that adults buy and collect and play with and adults have a lot of money so the toys can get more expensive, that's pretty new in this industry.

It's not so new that it's like a surprise, but it's new in terms of how a company like Hasbro would conceive of itself.

What's the balance there?

Because I think there's a lot of criticism that while making this stuff for adults is really lucrative and you might lose sight on the kids who are the primary audience for the toys.

I'm curious about that shift broadly.

One, I think just the demographics you outlined are true.

And it's really interesting.

You know, I have a seven-month-old.

And it's just interesting to see what toy brands exist now that didn't exist for our seven-year-old, right?

So even in that space of time, just seven years, you see some brands have just left this market behind and there's some new brands that exist now.

And then, you know, there's things like Cocomelon, which when my seven-year-old was a baby was pretty nascent and is now this juggernaut.

And I'm curious if you see the dynamics there changing.

You talked about digital experiences.