“In addition to that, as it relates to content spend, I'd say that from a domestic perspective, you shouldn't expect that we need to increase the spend on content significantly. Where we believe we should be investing is to grow our international businesses.”

In context

“where we're basically trying different elements out on consumers and getting data back from them in order to figure out what works the best. That includes basically the homepage experience and basically what they see when they open up an app. In addition, we've added streams, which was a technological advancement. There are some great streams you can watch, I think, 30-some -- [ 35 ] seasons or whatever it is of The Simpsons on one stream as a for instance, that's also something that increases engagement. There's an ABC news stream that you can watch. So there's some news on all the time on the service. So what we're basically doing is by one, combining them, we hope to increase engagement more. Two, with all the technological advances, we're increase -- we will increase engagement more. In addition to that, as it relates to content spend, I'd say that from a domestic perspective, you shouldn't expect that we need to increase the spend on content significantly. Where we believe we should be investing is to grow our international businesses. So one, we're going to brand the general entertainment from Star to Hulu across the world, for instance. Two, these technological advancements will obviously help in markets where our engagement has not been as high as they need to be. Three, we probably will invest in very selected markets internationally where we really feel there's a potential to grow our bottom line, to grow subs, to grow advertising revenue and to grow our bottom line. Hugh F. Johnston: Yes. And the only thing I'll add to Bob's comments are -- look, our objective with this business is to maximize OI over time through a growth-oriented strategy, not through cost management, although we'll manage cost effectively, but through growing this business, we have a significant opportunity in the U.S. to grow through higher en”