I also think you have to consider global trends in the direction of, as I said earlier, app based media consumption, over direct-to-consumer OTT services, which gives us the ability to improve our fortunes in terms of how we monetize the great IP and the strong brands that we have, whether it’s in increased advertising revenue, whether it’s in the, basically the value creation proposition of knowing the consumer better and mining data more effectively; whether it’s in basically creating stronger bonds or stronger brand affinity.
We’ve got this unbelievably passionate base of Disney consumers worldwide, and virtually all of our businesses except theme parks, we’ve never had the opportunity to even connect with them directly and know who they are. And it’s high-time that we got into the business, particularly with the technology available to us, to accomplish that.
Once we do, and this gives us the ability to do it, then I think the monetization possibilities are extraordinary for this company. There will be some sacrifices. Obviously, as you move product from, I’ll call it, a licensed to third-party model to a self-distributed model, you’re foregoing the licensing revenue that you’ll get for whatever revenues you generate by all the things that I just described.
We believe that ultimately, I can’t give you an idea of when or how long, the profitability, the revenue-generating capability of this initiative is substantially greater than the business models that we’re currently being served by.
Disney moves to drive their own platform.