So what you’re saying is, does that mean you should only put out blockbusters and anything that’s short of an expected blockbuster, you can’t put out. I think the answer is semi-yes. We can’t put out something that we think is going to be a B title. It’s never been the case. We have to put out AAA titles. However, not everything is ever going to be Grand Theft Auto. It just isn’t going to be that way. And we have shown that we have the ability to launch new franchises. In the case of Borderlands or more recently, Tiny Tina’s Wonderlands. Going back farther BioShock, from Rockstar, Red Dead Redemption. These are new intellectual properties, and we were willing to take the risk and support our creative team’s vision and passion, and we’ve been able to create big hits.
That’s not changing. And there’s nothing in our recent performance that leads us to say, we shouldn’t invest in this way to the contrary. I believe we should continue to invest in this way. But right now, is the market more selective? Sure. In tougher times when food and fuel is more expensive and people are a little worried, they’re going to be more selective. And when they’re more selective, they’re going to go to promotional titles and they’re going to go to blockbusters.
Doug Creutz : Thanks, Strauss
Operator: Thank you. Our next question is from Clay Griffin with MoffettNathanson. Please proceed with your question.
Clay Griffin : Thanks. Good evening. It sounds like this has been mostly in monetization, as I apologize if I missed it, but it would be helpful just to get a sense of overall engagement in the quarter as a metric for the market right now. It sounds like apart from the new releases that some of your base titles actually had pretty solid engagement. Is that fair?
Karl Slatoff : Engagement has definitely been strong across the board. And I would characterize it certainly as a modernization — as a monetization issue. And we’ve seen that not just on the PC and console business, but also in the mobile business as well. So, that is specifically engagement that seems to be — is not the issue for us.
Clay Griffin : Right. And just a follow-up on that. Is there anything that you guys have seen to suggest that Game Pass may be changing the way people engage with new titles or just a sense of if that has had an impact in terms of engagement in the quarter over the last several quarters?
Strauss Zelnick: I don’t really think so. I mean, we don’t make our frontline titles available day in date. We’re thrilled to be in business with subscription services for our catalog titles at the appropriate time. We think that’s the right way to support subscription. And subscription is still a relatively small business — you’re talking about businesses. I think the last announcement of Game Pass was 25 million subs. We’re not talking about huge broad-based business yet. And in any case, no, I don’t believe the business is cannibalizing our business.
Clay Griffin: Okay. Thank you.
Operator: Thank you. Our next question is from Martin Yang with Oppenheimer. Please proceed with your question.
