Jessica Ehrlich : Thank you. I have two questions. The first one is on location or look, could you just talk about where you see this business going over time? Like obviously, this year is year of investment, and then next year is the Olympics, which should be a good year for you. What does this look like at maturity? What do you think your margins and what kind of revenue growth can you have? And then I have a separate question.
Ari Emanuel: All right, I’ll do the front end of that and maybe Jason can go into the margins, et cetera. Jessica. So, we acquired the on-location business in 2020, given the pandemic €˜22 is really our first year to realize our growth ambitions. I’m getting feedback here. I think we’ve developed a unique product for the consumer. There’s high end demand for tailored experiences. The TME and the experience economy is pretty high right now. We’ve add several different offerings. The WWE one, March Madness Games is another. The IOC, we’ve also incorporated a bunch of our own assets, which is UFC Barrett Jackson, the property. We just bought the Madrid Open, which is our tennis tournament in Spain, Miami Open and freeze. And if you just kind of think about it, our Super Bowl packages for the Super Bowl packages in California upwards, some of the packages we’re going for a $100,000 each.
UFC 281 packages we’re going up for upwards of $50,000. And we intend to replicate that model for some of our other marquee events. With that, as Jason stated, there are multiple nine figure deal for our opportunity in the three Olympic games. So, we feel very good about that and we are constantly on the lookout for other major properties that we can add to the portfolio. With that, I’ll give Jason to talk about the up
Jason Lublin: The kind of the only other thing I would add from a margin perspective, it would certainly see this business in line with the margin for the overall EE&R segment on a normalized basis.
Jessica Ehrlich : And then I just, Ari, could you comment on your views on a potential work Sage? And why did you put, like, what was the benefit of using Speechify for your opening comments?
Ari Emanuel : So that — you said you were going to ask one question? That was two questions, but I’ll start. It
Jessica Ehrlich : It was two, a sneaky too.
Ari Emanuel : I know it was a sneaky two. So, here’s what I would say to you. There’s on the strike level, there’s important issues on both sides here. We support our clients as they work through the issues with the studios. There’s a date, I think on March 20 at the studios and the Writers Guild are meeting hopefully they’ll solve and resolve their issues. I’ve been through many strikes before compared to last time. This one’s very different and our company is very different. So, I think we’re pretty well positioned as it relates to the strike. I don’t if the strike is going to happen, it’s probably going to be somewhere later in the year, have no idea how long it’s going to last. But we have a lot of, as Jason said, a great deal of our percentage of our economics comes outside of the writing directing business whether that be lectures, books, sports, theatrical fashion, et cetera.
So, I think we’re differently positioned from others. If there is going to be a strike and speech five, we’ve been in business with them. We thought with all the conversation around AI, it was a pretty interesting, they we’re in business with them. We think they’re a really good company. We thought it was a proper time to kind of put this into our quarter. and for you guys to hear what it’s like.
Operator: The next question comes from the line of John Hodulik with UBS. You may now proceed. You may now proceed.
