“As we sit here today, we're already basically half booked out for all of next year, and the newer ships are even higher in that regard.”

In context

“attract customers from those regions who may want to sail in their region. And so by expanding, we feel we expand the business in terms of our access to people around the world. And we also give people who have sailed on our current ships an opportunity to sail again, but with a different experience because they're on a new ship. Hugh F. Johnston: Right. And from a financial perspective, the best way to think about it, I think, really is in the multiyear guidance that we gave you back last fall for the Experiences business. Obviously, we don't break out cruise ships, but we did contemplate all of the builds that we had coming on as a part of providing that guidance. The thing I can tell you in addition to that is, and as Bob noted, our cruise ships continue to be incredibly well received. As we sit here today, we're already basically half booked out for all of next year, and the newer ships are even higher in that regard. So we feel terrific from the perspective consumer receptivity to our new offerings. Operator: Our next question today comes from Peter Supino with Wolfe Research. Peter Lawler Supino: I wondered if you could comment on engagement trends regarding of your existing subscribers on Disney+ and Hulu, and how your current DTC strategies could contribute to those trends? And then a related longer-term question, not a 2026 guidance question. Your DTC segment reported 6% operating margins. As DTC surpasses your 10% margin objective, is there an opportunity to accelerate DTC content spending for the sake of market share over the long run? Robert A. Iger: Well, I'll take the first part. Maybe I'll take the second, too. When we combine -- when we gave people an opportunity to have a more seamless exp”