“Basically, we are further into the curve, but the messaging is exactly the same as I gave you last quarter. Bookings are up in the summer right now.”

In context

“f the year? Hugh Johnston: Yes, happy to cover both of those. Hitting on DTC first. As I mentioned, it's obviously an evolving environment. Our expectations are for the business to do terrifically well. We made $300 million in the quarter. For the full year, our expectation is to be a little over $1 billion. So we obviously still have some work to do, but we're out of the blocks very, very quickly. As I mentioned earlier in this call, we're certainly not afraid to over-deliver if the business momentum gives us that, but that's something to be seen. It's premature to be thinking about raising guidance, in my opinion, after just 1 quarter results. And the second question was in terms of... Michael Morris: The bookings. Hugh Johnston: The bookings, I'm sorry. I should have written that down. Basically, we are further into the curve, but the messaging is exactly the same as I gave you last quarter. Bookings are up in the summer right now. So certainly feeling positive. And obviously, we have more of them in given that we're 90 days later. So certainly, the outlook is good in that regard. But as always, we're going to take a view at this point that it's premature to be changing guide in that regard, but off to a great start in Experiences. Operator: Our next question comes from Bryan Kraft with Deutsche Bank. Bryan Kraft: So I had one on Sports and then just a follow-up. So first, on Sports, you're obviously going to see a step-up in rights costs for the NBA next year, but you've guided to low single-digit OI growth in fiscal '26 on top of 13% growth this year. So I just wanted to ask if we should be thinking about some offset and other sports rights coming out of the business to offset the NBA increase or if the fiscal '26”