“we expect the international visitation when it is fully back to actually be additive to margins, because those guests tend to stay longer at the parks and they spend more money when they're there as well.”

In context

“ead. Steven Cahall: Thanks. So the DPEP margins were really spectacular. I'm just wondering, what kind of trends you're seeing from international visitations. Were those strong in the quarter, or is that a tailwind to either per caps or hotel occupancy as you get into the back half of the year and you see more international traffic? Christine McCarthy: I'll take that one, Steve. The DPEP margins were indeed, very strong. One of the things that we've seen is, during the pandemic international visitation to our domestic park primarily Walt Disney World was basically non-existent. That has proceeded to come back and it has come back very nicely, but it is still below the traditional range that we've given you which is around 17% 18%, up to the low-20s. But it's made significant progress. And we expect the international visitation when it is fully back to actually be additive to margins, because those guests tend to stay longer at the parks and they spend more money when they're there as well. Alexia Quadrani: Thank you. Next question? Operator: Thank you. The next question is from Michael Nathanson from MoffettNathanson. Please go ahead. Michael Nathanson: Thank you. I just wanted to dig a bit on the ad product at Disney+. What's your expectation for ad load or modernization per sub, given there's a $3 difference between the premium with no ads and the ad product? And maybe what you've learned from Hulu over the years, that informs your expectations on monetization. Thanks. Bob Chapek: As you know, we've had a lot of experience with this on Hulu and a lot of success with this on Hulu. And we are walking before we run in terms of seeing what the market will bear in terms of an ad load. So we're going in very conservative upfront. But we believe that, there's probably going to b”