Ted Sarandos

You know, this first quarter of this year, we grew our revenue by 18%.

We grew our gross margin by 18%.

We've got a guide for this year to be 12% to 14% of growth and 31.5% margin.

We also have a doubling of our ad business to $3 billion this year.

So we've got a lot of growth on the horizon for what we're doing because we've just barely scratched the surface in what we're doing.

You know, it's remarkable to me in some of these TV markets around the world that we're, you know, we're still in our infancy in a way.

So we go out and see, and if I worried a little bit about what you're saying, I obviously, we follow consumer trends, we see what young people are doing, and then having tried to distinguish what will they do when they have

more money and less time, which is generally how these things evolve.

And being part of their media landscape is really important.

And they may use the phone to get excited about something.

You saw that we just redid our TV UI, but we also redid our mobile UI and added vertical video, not to compete with TikTok, but to be more discoverable in a format that's more native to younger people.

when they use their phone to find things.

And the ease of use of going from the vertical video on the phone to the actual presentation on your TV is really where we're focused, and there's a lot of growth there.

I mean, we can, but I think, like I said, I don't know.

On the phone, there's an enormous amount of competition for your attention on that phone.

And a lot of it is free.

It's almost all free.

So what I'm looking for is the most valued moments of truth.

I'm looking for that entertainment worth paying for.

You know, when we first started,